DUBAI--(BUSINESS WIRE)--Ninety days after announcing Aluminium and Glass orders worth AED 245 Million, cladding is well underway for Al Fajer Properties’ (AFP) Jumeirah Business Center (JBC) flagship project in Dubai under its highly accelerated construction plan.

With the aggressive AED 3.2 Billion restructuring initiated under the new management in early 2008 prior to the credit crunch, the company today enjoys remarkable balance sheet strength which has enabled it to accelerate construction and achieve milestone results in record time whereby, in some cases, reaching an average of a 4 day cycle per floor on some of its towers.

Cladding on Towers 2,3, 4 and 5 has already begun, with Tower 2 being the first of the 5 towers within phase 1 to receive panes of the specialty glass. On JBC 2 part of one wall of glass is already up to the 5^th floor with the overall building superstructure already reaching the 34^th floor.

In line with city’s vision for a greener Dubai, the double-glazed glass with low E coating, reflects a significant amount of radiant heat, thus lowering the total heat throughput within the building along with a significant reduction in noise pollution.

Cladding material is being supplied by Shenyang Yuanda Aluminum Industry Engineering Co. Ltd and Reem Emirates Aluminium. The unitized assembly allows for rapid installation due to its prefabricated/preinstalled set up. Cladding across all 5 towers is expected to complete by the third quarter of this year.

AFP is the premier developer in the Dubai World DMCC Jumeirah Lakes Towers (JLT) community and is the only developer to include a 5-floor atrium within the lobbies of its towers. JBC, situated within a free- zone, offers high-end commercial properties attracting both large local companies and multi-national organizations from around the world.

Notes to Editors:

Yuanda Aluminium

Yuanda Aluminum was founded in 1993 and engages in the research and development of products for the decoration of the external facade of buildings, manufacturing and installation engineering. Since 1999, Yuanda Aluminum has continued to rank at the top level for nine years in China with production and sales continuing to be at the top rank for five years globally.

Reem Emirates Aluminium

Reem Emirates Aluminium (REA) was formed in May 2006 to service the up and coming demand in architectural finishes and metal works for the city of Abu Dhabi. The largest in the UAE, REA boasts of using the latest technology allowing repetitive estimations, production plans, and interfaces for all commonly used data formats from production and subsequent processing.

Al Fajer Properties

Al Fajer Properties LLC (AFP), was established in November 2004 as a wholly owned subsidiary of AFG (Al Fajer Group). Since then the company has built up a significant land bank of note. The company is currently in the process of developing its flagship project which consists of 9 commercial towers located in the Jumeirah Lake Towers Community. With an estimated project value of over AED 3 billion the company has positioned itself to become a leading player in the fastest growing real estate market in the world.

Al Fajer Group

Al Fajer Group (AFG) was established in 1965, by its Group President His Highness Sheikh Hasher Bin Maktoum Al Maktoum. Since his appointment of CEO of the group in 1998 the company has rapidly grown to a diversified business entity delivering high quality service to a wide range of international clients. With more than 18,000 employees and an annual group turnover of AED 5.8 billion, the Group's business interests to date have now placed it as a market leader with the following nationally recognizable companies incorporated under its umbrella; Al Ahmadiah Contracting & Trading, a leading national contracting firm with over 35 years of widespread construction experience; Al Ahmadiah Aktor LLC identified as one of the few established professional construction companies reputed for its reliable expertise in intricate designs and exacting quality standards; Al Fajer Security & Maintenance, a leading specialist in providing a wide range of multi-property services; Lunar Electro, a national Electro Mechanical Contracting firm; Al Fajer Establishment, a general trading company with over 3 decades of expertise representing world renowned and leading brand of products supplying to the construction and printing industry; Balmer Lawrie & Co. Ltd, a well established company in India which has become a pioneer in container manufacturing in the Middle East specializing in mild steel barrels and drums; Al Fajer Information & Services, with over 2 decades of experience in providing a complete range of organization and management services through its five divisions which include Fairs and Exhibitions, Octanorm Displays, Shop Fittings, Design & Graphics and International Exhibit Builders. Other group members include: Al Fajer Travel & Tourism; Al Fajer Medical Supplies; Al Fajer Interiors & Decorations LLC; and Al Fajer Investments & Development.

www.alfajer.com

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