Emaar sets up utilities joint venture
Dubai, December 11, 2007
UAE-based Emaar Properties has signed a joint venture with UK's water and wastewater management leader United Utilities to set up a new firm - Emaar Utilities.
The joint venture will undertake the utilities management of all Emaar projects in Dubai.
Emaar Utilities will focus on enhancing customer service, and promote water conservation measures and sustainable environmental practices.
Ahmad Al Matrooshi, UAE managing director, Emaar Properties, and Les Bell, regional director, United Utilities, signed the joint venture in Dubai to set up Emaar Utilities.
Al Matrooshi will be the chairman of the board of the new entity, which will have three representatives from Emaar and two from United Utilities.
The joint venture will derive synergy from both the companies but will work independently as a stand-alone profit centre. Emaar Utilities will eventually provide utilities management support to other developments in the region, and will also explore project development options.
Al Matrooshi said: “Utility Management is one of the key areas in overall project management and has a critical role to play in managing water and energy resources. Through the new company, we are bringing all utilities management services of Emaar under one umbrella which will enhance customer service standards. Alongside, we aim to implement practical water conservation measures and sound environmental practices.”
Al Matrooshi added: “United Utilities is the largest listed utility company in the UK and has proven expertise in operating and maintaining utility assets including water, wastewater, electricity and gas. Our partnership will strengthen the roster of services offered to our customers and also bring in the technology advantage of United Utilities.”
United Utilities has a turnover of Dh17 billion and provides utility services to one-in-four of the UK population. The company serves over 20 million people worldwide, and recently opened an office in Abu Dhabi.
Bell said: “I'm delighted that Emaar and United Utilities will be working together to explore opportunities that build on our core skills of operating utility infrastructure.”
In a further endorsement of the joint venture, John Hawkins, consul general at the UK Embassy in Dubai, said: 'We are delighted about this new agreement between United Utilities and Emaar which helps to further strengthen the solid trade and business links between the UK and Dubai.'
Emaar Utilities will provide utility infrastructure management support to Emaar’s projects in Dubai including the 500-acre Downtown Burj Dubai, which has Burj Dubai, the world’s tallest building at its centre; Arabian Ranches, the premier desert-themed neighbourhood; Dubai Marina, one of the first and largest of its kind waterfront developments in the region; and Emirates Living, a cluster of master-planned neighbourhoods.- TradeArabia News Service
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