Samsung gets Burj Dubai contract

Samsung Corporation has been named the main contractor for the Burj Dubai tower being developed by Emaar Properties.

The contract to the South Korean industrial giant was awarded following an 11-month bidding process that began early this year and involved bids from leading global contractors.

The tower is set to become the tallest structure in the world and will be the centrepiece of Emaar's 500 acre Downtown Dubai development, which is being built at a cost of $8 billion.

The excavating, piling work and raft foundation have been completed and construction of the tower from the ground up will now be handled by Samsung.

Chicago-based Skidmore, Owings & Merrill (SOM) designed the tower and Turner Construction International is the project and construction manager.

Mohammad Ali Al Abbar, chairman of Emaar Properties, said: "Samsung Corporation has been awarded this contract because it matches Emaar's global quality standards and processes which have become benchmarks for real estate developers around the world. The company has an impeccable reputation and unrivalled expertise in constructing tall towers.

"Samsung Corporation's appointment is a defining moment and the tower is set to rise and change the face of Dubai.

"The tower represents the next stage of growth for Emaar and will be the basis for future developments and act as a signpost for the ambitions of the region."

A formal ceremony was held on the Burj Dubai site on September 20 when the concrete was poured for the tower's raft foundation, witnessed by General Shaikh Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence.

The tower will combine residential and commercial space, and will include a boutique hotel, recreational facilities, serviced residences, apartments and an observatory.

The tower will rise in a series of steps, providing a graceful transition as the structure ascends.

Emaar shares yesterday touched a 52-week high of Dh11 on the Dubai Financial Market along with 14 other scrips which also attained 52-week highs on the UAE stock markets.