Expect grander Address soon

• Emaar hires Dutco to restore hotel, vows to 'surpass its grandeur' in record time

Emaar Properties said on Sunday it had hired a Dubai-based contractor Dutco Group to restore the fire-damaged luxury hotel it owns in Downtown Dubai as it affirmed that the blaze would have no material impact on the company because the building and risk of fire are covered by its insurance.

The fire that engulfed Emaar's 63-storey Address Downtown luxury hotel and residential tower on New Year's eve has been contained and the company and authorities are investigating its cause, the developer said in a statement to Dubai's bourse.

Emaar's shares were down 1.6 per cent at the close, having fallen 4.4 per cent in early trade but the stock came off its lows.

The Dh845 million hotel complex, which was completed in September 2008, features 196 rooms and 626 serviced apartments. It is the 19th-tallest building in Dubai.

Dutco representatives are already on-site and working round-the-clock, the statement said.

"Restoration work will be carried out in record time," Wam reported."As soon as clearing and assessment work is completed, construction will commence as per a tightly scheduled calendar with a focus on the highest standards of quality," Emaar said. "The details of the work including the timelines and plans will be revealed in due course."

The restoration project will take several months to complete and will cost millions of dirhams, a construction expert said.

Dutco Group has a proven track record in mega-developments having earlier been assigned the task of building The Dubai Mall, the world's largest mall, by Emaar. The company is also currently undertaking the expansion work at the mall.

A team of international consultants has already been mobilised by Dutco Group, who are now on site and working round-the-clock. Cleaning work has started with the mechanical, electrical and structural assessment of the building and restoration also underway.

Emaar is coordinating with the concerned government entities including the Dubai Police, Dubai Civil Defence, Dubai Municipality and Dubai Electricity and Water Authority, among others, to expedite the work. "We are committed to expediting the reopening of the hotel in line with the directives of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. We are demonstrating the can-do ability of Dubai with our focus on opening the hotel in record time using the best in design, quality and technology," said Mohamed Alabbar, chairman of Emaar Properties.

"The Address Downtown Dubai is our first hotel project and it has set international benchmarks with its excellent hospitality standards. We will restore the project to its glory and even surpass its grandeur that befits the prestige of the city and Downtown Dubai. We are working with all Dubai government entities to expedite the construction work," said Alabbar.

"To achieve our timelines, we will leverage all our resources and our proven track-record of delivering iconic projects. Every aspect of the workflow will be clearly streamlined and we will deploy the latest technology tools to ensure that we meet our timeframe," said Alabbar.

Emaar Group's hospitality division accounted for 12 per cent of the firm's revenue in the nine months to September 30, 2015, its financial statements show.

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