Burj Dubai’s Climb to Floor Five Lays Foundation for Global Chain of Armani Hotels

History Rises at a Floor Per Week

DUBAI, United Arab Emirates, August 31 /PRNewswire/ — Emaar Properties today announced that Burj Dubai, its iconic ‘super’ tower, had reached a key construction stage which will see the developer move to the next phase and incorporate the signature first Armani Hotel into the building. Progress on the building has been rapid in recent weeks as it has climbed to its current five-storey height — the first level for the luxury Armani Hotel guest rooms.

The Armani Hotel Dubai will offer 172 guest rooms and suites, restaurants and a spa covering more than 40,000 square metres and is the flagship for a global collection of Armani designer hotels and resorts. The joint venture between Giorgio Armani S.p.A. and Emaar Hotels & Resorts LLC is one of the defining phases of Burj Dubai, the tallest tower in the world and the centrepiece of the new Downtown Dubai.

Work on the tower has been progressing at the rate of one floor a week and construction of Level Five is nearing completion. Robert Booth, Executive Director for Emaar Properties, said: “This is an immensely significant moment for Emaar, for the development of Burj Dubai and for the Armani Hotel chain. Our plans and projections are rapidly becoming reality and the moment is not far away when we will see the full scale of our spectacular Downtown Dubai projects emerging.

“History is rising. The tower is taking shape. We’re moving forward and we are on schedule. This is an endeavour whose scope and magnitude reflects the ambitions of the city of Dubai.”

The Burj Dubai Development, including the entirety of the tower, is scheduled to be completed within the next three years. The Armani Hotel and 152 luxury residential apartments, whose interiors and furnishings will be designed and manufactured by fashion icon Giorgio Armani, will open in 2008.

Greg Sang, Assistant Director — Projects, Emaar Properties said: “We aim to achieve one floor a week between now and the year’s end. Later on, as construction moves higher and floor size diminishes, it should be possible to complete two floors a week.”

With more than 2,000 workers committed to the tower the work is on schedule. The tower’s central core has been cast to Level Five, with rebar fixing to Level Six now in progress. Its foundations, car park and concourse are rapidly taking shape.

Around 30,000m cubed, 10 per cent of the 300,000m cubed of planned concrete works, has been cast and rapid progress is being made on creating the skeleton of the building in preparation for the finishing works that will follow. By the end of the year, progress on the tower’s central core is expected to have reached Level 20.

Booth added: “Burj Dubai is taking shape and is fast becoming a presence on Dubai’s landscape. We are paving the way for Emaar to fulfil the hopes and expectations invested in it to become an example of what can be achieved in this region while consolidating its position as a global real estate and lifestyle leader.”

About Emaar Properties PJSC

Emaar Properties, the Dubai-based Public Joint Stock Company, is listed on the Dubai Financial Market and is part of the Dow Jones Arab Titans Index. Emaar is the No. 1 real estate company in the world in terms of market capitalisation. The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base. In June 2005, Emaar crossed the historic 10,000 mark on the number of homes handed over to satisfied customers. Currently, it has several major real estate projects under various stages of development in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The Meadows, The Springs and The Lakes. The company also owns and manages the Gold and Diamond Park. Emaar has started construction on its most ambitious project to date, the Burj Dubai Development, which comprises the Burj Dubai — slated to be the tallest tower in the world, The Dubai Mall, The Boulevard, The Old Town, Old Town Island, The Residences, Burj Views, man-made lakes and landscaped parks and gardens. The company also has joint ventures and projects across the region covering Saudi Arabia, Egypt, Jordan, Morocco, India and Pakistan.

While continuing to actively pursue expansion in its core business of innovative, high quality real estate development, Emaar has diversified into related business lines to further build value for its 41,000 shareholders, which includes the Government of Dubai. Emaar owns and manages three subsidiaries — Dubai Bank, focused on retail and commercial banking; EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services; and Sahm, its IT services arm. Emaar is also the majority shareholder in Amlak Finance, UAE’s first mortgage finance company. For further information, please visit http://www.emaar.com/ .

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