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Dubai Properties finalized deal with Porsche Design Studios

- October 28, 2006, 11:11 pm

Dubai Properties finalized its strategic agreement with Porsche Design Studios at Expo Real 2006 to jointly develop a series of Porsche Design Towers in 17 countries over 15 years.

The 9th international commercial property exposition, Expo Real was held from 23-25 October at the New Munich Trade Fair Centre.

Haiyan Mujarkech, Chief Officer, Dubai Properties said, ‘The importance of this landmark agreement, with one of Europe’s top design houses, lies in the common shared values between Dubai Properties and Porsche Design Studios. These include innovation, excellence, loyalty and integrity. We look forward to working with Porsche Design Studios in not only creating revolutionary architecture in Dubai and other parts of the world, but also in crafting individualistic lifestyle options for our investors.’

Dubai Properties and Porsche Design Studios had initially met in April this year to explore investment opportunities for the German design house in Dubai Properties’ developments.

Roland Heiler, Managing Director, Porsche Design Studios said, ‘We are continually exploring opportunities to implement our design philosophy across the world. Dubai Properties, which is well known for its unique lifestyle concepts, is our perfect partner to achieve our goal. As one of fastest growing cities in the region, Dubai is an ideal place to create the world’s first Porsche Design Tower, a luxurious vertical residential resort in Business Bay.’

Dubai Properties targeted German institutions and private European investors at Expo Real 2006. The highlight of the exhibition was Business Bay, Dubai Properties’ signature commercial and residential master development.

Participation in Expo Real was one of many strategic initiatives being undertaken by the master developer’s international business development arm, which aims to promote foreign investment in Dubai.

Since its premier in 1998, Expo Real has developed into a leading real estate summit in Europe. The event is a platform for networking on real-estate projects, investments and finance across sectors and international borders.

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