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News Release from: EC Harris
Edited by the Buildingtalk Editorial
Team on 26 June 2007
EC Harris and Sama Dubai launch joint
venture
EC Harris and Sama Dubai announce formation of a joint venture to create a major project management company to deliver nine investment programmes with a value of US$ 38 billion.
The joint venture, which will deliver Sama Dubai's projects throughout the Middle East, will bring together EC Harris' international experience of delivering major schemes and Sama Dubai's existing 200-strong project management team to develop a business of 400-plus people during the next five years This unique opportunity attracted many of the world's leading project management firms
This article was originally published on Buildingtalk on 21 Jan 2005 at 8.00am (UK)
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EC Harris was selected for its proven best practices, unsurpassed track record, breadth of professional skills, and cultural fit with Sama Dubai.
Steve Jessup, a Partner with EC Harris will be Chief Executive of the JV, and Chris Hinton, also of EC Harris, will be COO of the new entity, based in Dubai.
Farhan Faraidooni, Executive Chairman of Sama Dubai, said: "The joint venture with EC Harris will deliver value to all involved".
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"The establishment of the new organisation will allow Sama to focus on development as our core skill".
"The size of our existing project management team means it can be reshaped into a stand alone profit-making business and partnering with EC Harris will accelerate the professional development of the new entity and ensure it operates to the highest international standards".
"I am confident that the joint venture will be quickly established as a significant company, performing ahead of the leading project management companies around the world," Faraidooni added.
Philip Youell, Chief Executive of EC Harris said: "The nature of the relationship between us and Sama Dubai and their commitment to a long term programme of large scale commercial and mixed use developments will provide the joint venture with a platform for growth and the opportunity to set new global standards in the delivery of premium real estate developments".
Mark Prior, EC Harris' leader in the region, said: "This relationship will enhance our flourishing existing business in the UAE which will itself grow to more than 200 people this year".
"The JV with Sama Dubai further reinforces our growing international reputation as leaders in the management of major projects".
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.
EC Harris is involved in the management of major investment programmes such as Terminal 5, HSBC's retail roll out in China and euro20 billion of investment deals across Europe.
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