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Meydan and Emirates Airline announce landmark purchase agreement
(22 March 2011)

 

Meydan Group today announced the signing of a significant purchase agreement with Emirates Airline for a new gated community of 528 townhouses called Meydan Heights. This is the first project of its kind for Meydan Group and Emirates Airline, with both parties collaborating closely to conceptualise, design and develop what will be contemporary and modern housing for their pilots based in Dubai.

Located next to the training tracks at Meydan Racecourse, Meydan Heights will be built to Emirates’ exacting standards and will feature 528 townhouses with designated areas for a private clubhouse, commercial centre and children’s playgrounds. Developed as a private gated community exclusively for the airline’s pilots, the townhouses are designed to house four ensuite bedrooms, living and dining rooms, a maid’s room and a garage for two automobiles. With its convenient location close to both the city centre and Dubai International Airport, Meydan Heights will provide a quiet and serene environment for its residents.

Emirates currently flies to 111 destinations with a fleet of 152 aircraft. The airline is growing rapidly with a further 200 aircraft on order. To maintain this growth, Emirates is currently recruiting a number of new pilots and meeting the housing requirements for these new pilots has been a key strategic consideration in partnering with Meydan Group.

With a total project plot size of 2,940,793 square feet, the 15-year Lease-to-Own tenure agreement for Meydan Heights has seen the finalisation of its planning and design phases, with tenders soon to be announced for construction-related suppliers.

Saeed Humaid Al Tayer, Chairman of the Board and CEO of Meydan said: "This is a landmark development not only because it will be a built-to-specifications project by Meydan Group in collaboration with Emirates Airline, but because it also allows us to showcase our continued commitment to developing projects which set the benchmark for exceptional design and build-quality. Emirates Airline is not only a global leader in its industry, but a company that is renowned for having a strong focus on employee welfare. Meydan Heights aims to be the blueprint development for providing the airline with quality housing which will meet the exacting standards by which the airline is known for."

Al Tayer added, "Working in conjunction with the project team on Meydan Heights represents a paradigm shift in looking beyond the traditional business model and seeking new ways to maximise a cohesive synergy between our companies. It represents an evolution of what are already very strong partnerships." Ali Mubarak Al Soori, Executive Vice President of Chairman’s Office, Facilities, Projects Management and Procurement & Logistics, The Emirates Group said: "With Emirates’ continued growth we have a need to implement a strong recruitment drive to ensure we meet the demands of our fleet and network expansion. Recruiting the best pilots means providing them not only with maximum job satisfaction but also with a harmonious living environment and we are confident that Meydan Heights will provide this."

Mr. Al Soori added, "Meydan Group was an obvious choice for several reasons; we have a long-standing and successful partnership via our sponsorship of the Dubai World Cup and like Emirates, they are a leading, globally recognised brand. Most importantly, as a premier developer, they have been responsible for some of Dubai’s most iconic and successful projects such as the Meydan Grandstand and Racecourse."


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