June 02, 2007

Sama Dubai Announces Joint Venture with Leading Project Management Firm EC Harris

Aim is to Create World Class Integrated Project Management Company Dubai, 02 June, 2007: Sama Dubai; the international real estate and investment arm of Dubai Holding, has announced the formation of a joint venture with EC Harris, a leading consultancy working in the real estate, infrastructure and construction sectors. The aim is to create a world class integrated project management company. The joint venture will bring together Sama Dubai's existing project management team of over 200 staff and EC Harris's over 90 years experience of delivering value through the application of knowledge, professional skills and technology to clients' projects. Farhan Faraidooni; Executive Chairman of Sama Dubai said: "The joint venture with EC Harris will deliver tremendous value to all our stakeholders by achieving excellence in project management. The establishment of the new organization will allow us to focus on further developing our core competencies". "The successful growth and magnitude of our Project Management team puts it in a position to be reshaped successfully into a stand alone profit-making business. Partnering with a leading international project management firm will tremendously accelerate the professional development of the new entity and ensure it operates to the highest international standards. Commenting on the benefits of the joint venture for Sama Dubai's Project Management team, Faraidooni added: "This move will strengthen their capabilities and skills to ensure a long term, more specialized career growth. "I am confident that the Sama Dubai-EC Harris joint venture will quickly establish itself as a significant player, competing with the leading project management companies around the world." The unique value proposition created by the joint venture attracted many of the world's leading project management firms. EC Harris was selected for its proven best practices, immaculate track record, extensive professional skills, as well as its cultural fit with Sama Dubai. Richard Clare, Chairman, EC Harris said: "The strategic nature of the relationship between us and Sama Dubai will enable the joint venture to set new global standards in the integrated delivery of premium real estate developments. "Sama Dubai's commitment to a long term programme of large scale developments will provide the joint venture with a platform for unlimited growth. In turn, we will transfer our expertise in project management, career development programs, systems and processes to the joint venture to develop a world-class integrated project management business." The joint venture supports Sama Dubai's vision of becoming the leading real estate developer in the MENA region and one of the top five players globally. Sama Dubai is currently developing projects in the UAE, Oman, Qatar, Bahrain, Turkey and Morocco. Headquartered in London, EC Harris was established in 1911. Since then it has developed world class processes and systems to support consistency of delivery and robust management and change controls. EC Harris has extensive civil engineering and infrastructure expertise. With 43 offices around the world employing over 3,000 people, EC Harris has developed a cultural awareness as well as professional knowledge and expertise. Some of its landmark projects include BAA's Terminal 5 at Heathrow, Emirates Stadium UK, Dubai Chamber of Commerce and Industry Tower and Dubai Marina, UAE.