Otis To Supply Elevators, Escalators, Moving Walkways For Multi-Use Mall In The United Arab Emirates

FARMINGTON, Conn.--(BUSINESS WIRE)--May 12, 2004--Otis Elevator Company is supplying a total of 98 elevators, escalators and moving walkways for the Mall of the Emirates, a 2.4 million-square-foot (216,000 square meters) entertainment and shopping complex and indoor ski resort under construction in Dubai.

The Otis equipment consists of 42 elevators, 50 escalators and six Trav-O -Lator(R) moving walkways.

Otis President Ari Bousbib said, "Otis' selection for the Mall of the Emirates demonstrates that the company is well positioned in this rapidly growing market. We are pleased to be part of the biggest shopping, entertainment and leisure complex outside North America and a landmark in Dubai."

The Mall of the Emirates is scheduled to open in September 2005. The mall's developer is the U.A.E.-based Majid Al Futtaim Group (MAF).

Initially known as Souk Al Nakheel, the mall will have a 400-room hotel and more than 350 stores and cafes, including two major department stories, the largest single-level Carrefour Hypermarket in the Middle East and a 14-screen multiplex cinema. The indoor ski resort, said to be the third largest in the world, will have five ski runs and will hold 6,000 tons of snow.

Dubai, one of the seven emirates that constitute the U.A.E., has been one of the Persian Gulf's most dynamic and diverse economies. The city-state is in the midst of a property boom, with its population and economy growing at more than 5 percent a year.

Otis Elevator Company, a wholly owned subsidiary of United Technologies Corporation (NYSE:UTX), is the world's largest manufacturer and maintainer of people-moving products, including elevators, escalators, shuttle systems and moving walkways. With headquarters in Farmington, Connecticut, Otis employs 60,000 people, offers products and services in more than 200 countries and territories and maintains more than 1.4 million elevators and escalators worldwide.