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Emaar to finance Dubai Metro’s “Burj Dubai” Station

- September 27, 2006, 8:08 pm

The Roads & Transport Authority (RTA) signed an agreement with EMAAR Real estate Company to finance the design and the construction of “Burj Dubai” Station in Dubai Metro’s Red Line to serve the real estate projects implemented by EMAAR.

The Agreement signed by H.E Mattar Al Tayer, Chairman of the Board and Executive Director and H.E Ahmed Thani Al Matrooshi, Managing Director of EMAAR with the attendance of Engineer Abdul Majeed Al Khaja, Chief Executive Officer of Rail Agency, Mr. Abdul Mohsen Ibrahim, Chief Executive Officer of Strategy & Corporate Governance Agency, Mr. Farid Dori, Executive Director of Development in EMAAR, Engineer Adnan Al Hammdi, Director of Construction Department in Rail Agency, Engineer Abdulreda Abu Al Hassan, Director of Planning and Design Department in Rail Agency and Dr. Aysha Al Busmait, Director of Marketing & Corporate Communication Department.

The RTA according to this agreement will design and construct the station in accordance with the model design approved by the authority for Metro stations and EMAAR will be responsible for payment of all costs of construction and operation for the station, which is estimated to cost around AED 100 million.

HE Mattar Al Tayer noted that signing this agreement comes within the framework of the integration between the public and private sectors, praising the initiative of EMAAR in financing the construction of the station, which would be a landmark along Burj Dubai.

He said: “The station will serve largely the Burj Dubai, which is the tallest tower in the world and comprising the largest shopping center in the world, along with the huge real estate projects around the tower, the station would serve the residents and visitors in the area and will provide them with easy, safe and quick transportation to access the site and to avoid the jams. “

Al Tayer expressed his delight at the strong relationship between the RTA and EMAAR headed by HE Mohammad Al Abbar, Chairman of the Board, that contributed actively to supporting the RTA since its establishment, emphasizing the EMAAR initiative would be an incentive for various national companies in financing the construction of the metro stations, which lie close to the projects and implemented on the Red and Green lines.

He explained that EMAAR initiatives are the second of a series of national initiatives to finance the construction of the Dubai Metro stations, which are estimated to cost AED 15 billion.

While the RTA signed recently an agreement with the Department of Civil Aviation for the construction of two stations in front of Terminal 1 and 3 of Dubai International Airport and the financing of a bridge connecting them from the train line, which is part of the Red Line that is currently being implemented within the Dubai Metro Project, in addition to all the agriculture, horticulture and special lighting for the two stations, while the RTA is overseeing the implementation of the work executed by the contractor of Dubai Metro.

H.E. Ahmed Al Matrooshi praised the cooperation that has been received from all RTA officials and HE Mattar Al Tayer, Chairman of the Board and Executive Director of the Authority, which resulted in the signing of this agreement.

Al Matrooshi said that EMAAR will construct a corridor linking Burj Dubai and the Metro station to facilitate the arrival of passengers to the station, stressing that EMAAR will provide all kinds of support to the Roads and Transport Authority (RTA) to ensure the success of huge-scale projects implemented by the authority and aimed to simplify the transportation in the emirate.

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