ニュースリリースのリリースコンテナ第一倉庫 Otis Elevators Chosen for First Residential Project in New Songdo City, World's Largest Private Real Estate Development

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2007'05.09.Wed

Otis Elevators Chosen for First Residential Project in New Songdo City, World's Largest Private Real Estate Development

May 09, 2007



    FARMINGTON, Conn., May 9 /PRNewswire/ -- Otis Elevator
Company, a unit of United Technologies Corp. (NYSE: UTX),
was awarded a nearly $8 million contract to supply and
install elevators for the first residential development in
New Songdo City, South Korea's new international city and
the world's largest private real estate development.

    Otis will provide elevators, including high-speed
units, to 1st World Towers, a group of mixed-use
residential buildings ranging in height from two to 64
stories. 

    "We are honored Otis products have been selected
for this premier development that will not only serve as a
dynamic center for international business and luxury
living, but will also incorporate innovative green
design," said Otis President Ari Bousbib.

    The environmentally friendly and energy-efficient city
will balance residential, cultural, business, retail and
recreational space. By 2015, New Songdo City is expected to
include 50 million square feet of office space, 30 million
square feet of retail space, 5 million square feet of hotel
space and 10 million square feet of green space. Called the
"gateway to Northeast Asia," New Songdo City is
being developed on 1,500 acres of reclaimed land along
Incheon's waterfront located 40 miles southwest of Seoul.
The city will be connected to Incheon International Airport
via a new bridge.

    Otis Elevator Company is the world's largest
manufacturer and maintainer of people-moving products
including elevators, escalators and moving walkways. With
headquarters in Farmington, Connecticut, Otis employs
61,000 people, offers products and services in more than
200 countries and territories and maintains 1.5 million
elevators and escalators worldwide. United Technologies
Corp., based in Hartford, Connecticut, is a diversified
company providing high-technology products and services to
the building and aerospace industries.


    For more information, please contact: 

    Tizz Weber
    Director, Communications
    Otis Elevator Company
    Tel:   +1-860-676-6127
    Email: Tizz.Weber@Otis.com

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