InnoVida and Al-Kaheel announce US$60 million contract to build various real estate projects

United Arab Emirates: Thursday, May 24 - 2007 @ 12:03

The contract represents the building of offices, demo rooms, staff house villas, laborers’ accommodations, show stages, horse stables and parts of the Al-Kaheel’s Equine Theme Park, among others, in the city of Dubai, U.A.E.

The announcement was made as Al-Kaheel welcomed Mohammed Al Habai and other Dubai land officials and dignitaries to the groundbreaking ceremony and red ribbon cutting of their first attraction within the Al-Kaheel project, the Equine Desert Safari. The new project is a nightly desert and horse experience for up to 1,000 guests.

Al-Kaheel, a US $400 million project featuring 400 sold-out high-end residences, will be built in the beautifully preserved desert landscape surrounding Dubailand’s Eco Zone.

“Al-Kaheel’s decision to build such a significant part of their 400 high-end villas development entirely in our material further expands the scope and breadth of our materials,” stated Claudio Osorio, chairman and CEO of InnoVida Holdings, Inc.

“Al-Kaheel took a careful and extensive look at all the alternatives and decided that InnoVida is by far a superior construction material,” stated Machhour Moukaddem, CEO of Al-Kaheel Equine Management LLC. “We are proud and excited to partner with InnoVida. Al-Kaheel will benefit greatly by delivering our development significantly faster. The longevity, strength and insulation virtues of InnoVida’s advanced construction materials will be a significant factor in making Al-Kaheel a standout community in Dubai.”

“Our InnoVida Panels allow for construction of heavy equipment houses, offices, shopping malls, warehouses, etc. without a foundation, columns or roof structure,” said Uli Schwartau, chief design and development officer at InnoVida Holdings Inc. “Also, our materials can withstand 300 Kph of wind, are waterproof and non-flammable. Our proprietary bonding material ‘InnoVidaBond’ allows for our panels to be fused together into a mono-block; yet our panels can be finished with any decorative materials as needed. Our InnoVida Panels have proven excellent insulation qualities, excellent sound insulation and a temperature variance of only three degrees Celsius after six hours,” Schwartau added.

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Thursday, May 24- 2007 @ 12:03 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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