Lotus announces deal with UAE property giant Emaar
5 September, 2013
Lotus F1 Team welcomes Dubai-based residential and commercial property investment company Emaar Properties to its portfolio of partners, in a new two-year deal commencing with the Italian Grand Prix [September 6th – 8th 2013].
Emaar’s portfolio includes such notable properties as The Dubai Mall and Burj Khalifa; the world’s tallest building. As Official Partner to Lotus F1 Team, Emaar will enjoy a presence on the team’s E21 car in addition to a range of other Lotus F1 Team marketing collateral. This new relationship builds on the team’s recent partnerships with brands such as Microsoft, Unilever ( via Clear and Rexona) and The Coca-Cola Company (via Burn).
Eric Boullier, Team Principal, Lotus F1 Team: “We are delighted to begin this new relationship with Emaar Properties; particularly as the UAE has been a fruitful location for us on track with Kimi Räikkönen winning the 2012 Abu Dhabi Grand Prix. That victory truly confirmed Lotus F1 Team as one of the foremost outfits in Formula 1 and we have continued our strong performances this season. With this new partnership with the developer of such iconic projects as Burj Khalifa and The Dubai Mall, we are looking forward to some home support as we race in the UAE once again this year. We are also very excited to see how this partnership will further enhance Lotus F1 Team’s brand value.”
Mohamed Alabbar, Chairman of Emaar Properties: “Formula 1 brings man, mind and machine together in one exciting journey to perfection. The minute attention to detail, the passion and commitment, and the determination of every participant to push the boundaries are values that have also set Emaar apart, as we challenged accepted norms to develop world-class projects such as Burj Khalifa and The Dubai Mall.
“Our partnership with Lotus F1 Team, a remarkable team with impeccable credentials in the racing circuit, is therefore a perfect fit to our own values. As they race at the Formula 1 Championship circuits across the world, we are truly honoured to extend our support to the Lotus F1 Team, while also engaging with our international clientele and further defining the global identity of our brand.”
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in the Middle East, North Africa and Asia. A provider of premium lifestyles through its world-class portfolio of integrated communities, the company also has proven competencies in shopping malls & retail, and hospitality & leisure. Burj Khalifa, the world’s tallest building, and The Dubai Mall, the world’s largest shopping and entertainment destination, are among Emaar’s trophy developments.
Emaar is currently expanding The Dubai Mall’s Fashion Avenue by 1 million sq ft expansion and also redefining the cultural scene of the city with The Opera District in Downtown Dubai, to feature the city’s first opera house and several design galleries. The company is also partnering in implementing Mohammed Bin Rashid City (MBR City), with Dubai Hills Estate, the first phase of MBR City, developed as a joint venture with Meraas Holding.
Among other mega-projects of Emaar is the King Abdullah Economic City in Saudi Arabia the region’s largest private sector-led project. Emaar is also the largest foreign direct investor in India’s real estate sector and its joint venture has a country-wide presence covering the residential, commercial, retail and hospitality sectors. (Lotus F1)
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