An Office in Amman for Emaar

Amman, Jordan, May 23, 2007: Emaar International Jordan, the subsidiary of Dubai-based Emaar Properties PJSC, opened its corporate office in Amman at the Rabia Towers, to drive the sales and marketing activities of projects in Jordan. The office displays a true-to-type model of Emaar International Jordan’s pioneering project, the Samarah Dead Sea Golf & Beach Resort.

Mr Mohamed Ali Alabbar, Chairman, Emaar Properties, opened the office in the presence of Mr Issam Galadari, Managing Director, Emaar International – Middle East and North Africa; Dr Nader Mohammed, Regional Managing Director – Emaar International; and Mr Steve McCartt, General Manager, Emaar International Jordan.

“As an emerging market with strong growth potential, Jordan is one of Emaar’s thrust areas in our geographic expansion plans,” said Mr Alabbar. “Emaar is aligned with the development vision envisaged by the King Abdullah II Fund for Development, and with the opening of our corporate office, we are strengthening our resource base in Jordan and will evaluate new investment opportunities.”

Samarah, a mixed-use, master-planned project, of development value JD354 million (US$500 million), is developed by Emaar for The Dead Sea Touristic and Real Estate Investment Company, formed by Emaar Properties PJSC and a number of Jordanian regional investors. The Dead Sea Touristic and Real Estate Investment Company undertakes investments in line with the growth plans outlined for the Kingdom by the King Abdullah II Fund for Development.

“Emaar will drive the sales, marketing and project development of Samarah Dead Sea Golf & Beach Resort, which has already received strong investor response regionally and internationally,” said Mr McCartt. “The first-of-its-kind master-planned project in Jordan, Samarah complements the tourism growth initiatives of the Government through its mix of luxury residences, commercial establishments and leisure & entertainment facilities.”

The true-to-type model of Samarah on display at Emaar International Jordan’s corporate office will highlight the key features at the project including a full-fledged golf course and clubhouse, luxury villas, beachside amenities and an extensive retail spread. The model will help potential investors gain an insight into the scale of development of Samarah Dead Sea Golf & Beach Resort and the design elements to be used.

Emaar Properties has a significant presence in 16 countries globally, and the geographic expansion is line with its Vision 2010 to become one of the most valuable companies in the world.

New Investment Opportunities

Dubai, UAE, May 23, 2007: Emaar Properties, the Dubai-based property developer with a significant presence in 16 countries world-wide, highlighted the company’s growth dynamics and investment potential during the Dubai Financial Market (DFM) International Investors Conference held in London.

Emaar representatives underscored the company’s investor relations strategy, which is focused on furthering investor trust through transparency in operations, to international fund managers at the conference organised as part of the DFM roadshow.

The conference has been organised to attract more foreign institutional investment in the DFM, and was attended by representatives of DFM Company and 12 other listed companies including Emaar Properties and Amlak Finance, Emaar’s home finance associate.

“Emaar is the largest property developer in the MENA region measured by a market capitalization of AED 67.9 billion (US$18.5 billion) as of May 10, 2007; revenues of AED 14 billion (US$3.8 billion) in 2006; a land bank of 468 million square meters in pristine locations in the high-growth markets of MENA and Indian Subcontinent; and declared project portfolio, including international developments, for the next four years of value AED 140 billion (US$40 billion),” said Mr Arif Amiri, Director – Investor Relations, Corporate Governance and Business Development, Emaar Properties.

He added: “Continued to be powered by the robust local market, Emaar is now diversifying income sources and expects to generate 60 to 70 per cent of revenues from international operations, and 15 per cent of net profit from recurring streams such as hotels, serviced apartments and retail properties by 2010.”

Emaar has large land parcels in the UAE, India, Saudi Arabia, Morocco, Pakistan, Syria, Turkey, Egypt, and Jordan. The company has made strategic international acquisitions to set up a platform able to support its growth. It acquired John Laing Homes, USA’s second largest privately held homebuilder and Hamptons International, UK’s premier real estate agency. Emaar also joined hands with Turner International to form a joint venture that taps regional growth opportunities.

“These provide synergies in design and project management, and helps deploy our growth strategy of becoming one of the most valuable companies in the world by 2010,” said Mr Amiri. “Complementing these initiatives in our key growth sector – property, Emaar has also diversified into education, healthcare, malls, industry, finance and hospitality & leisure, which enhances the value model of Emaar, making the company one of the most attractive investment options.”

He added: “As we did for Emaar, The Economic City, we plan to list at least two of our subsidiaries to raise additional funds for international expansion and to add value to our shareholders. We are currently examining the timing for the IPO of Emaar-MGF India on the National Stock Exchange and Bombay Stock Exchange before year-end.”

“Emaar is thankful to DFM for facilitating our participation in the roadshow, which helps us position strongly among international investors,” said Mr Amiri. “This is particularly important as it provides us the necessary exposure that further supports out international growth plans.”

Emaar announced record revenue of AED 14.006 billion (US$3.8 billion) and net profits of AED 6.371 billion (US$1.74 billion) for the financial year ended December 31, 2006. This corresponded to an increase in annual revenue by 68 per cent and net profits by 35 per cent.

Emaar also posted a net profit of AED 1.721 billion (US$0.469 billion) for the first quarter of 2007 – an increase of 13 per cent over first quarter 2006 results. The revenue for the first three months of the year was AED 3.904 billion (US$1.063 billion), an increase of 74 per cent over Q1 2006.

The presentation prepared by Emaar for the DFM Conference will be available on the company’s website, from Wednesday, May 23.

More Update

Jeddah, Saudi Arabia, May 24, 2007: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed Saudi company developing King Abdullah Economic City (KAEC), the single largest private sector-led development in the region, showcased the role of KAEC in fostering the growth of the Saudi Arabian economy at the recent Saudi International Real Estate Conference (SAIREC).

Held under the patronage of His Royal Highness The Deputy of The Custodian of The Two Holy Mosques Prince Sultan Ibn Abdul Aziz Al Saud, SAIREC was inaugurated by the Minister of Trade and Industries Mr Hashim Yamani and the Minister of Economy and Planning Mr Khaled Al Qusaibi. The event was organized by the Council of Saudi Chambers and National Real Estate Committee.

“KAEC is a pioneering model for urban developments that support the overall socio-economic progress of Saudi Arabia,” said Mr Ahmed Linjawy, Executive Director – External Relations & Human Resources, Emaar.E.C. “As a project inspired by the vision of The Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz AlSaud, KAEC will power the growth of the Saudi economy by generating one million jobs, attracting local and foreign investment and has already gained strong investor response.”

The objective of SAIREC was to highlight the investment opportunities offered by the Saudi Arabian real estate sector, and project its impact on the Kingdom’s socio-economic growth. Experts, participating at the event discussed the Saudi Arabian real estate sector vis-à-vis economic development; the challenges in jurisdiction and finance; the legislative and organizational environment; and innovation and development mechanisms.

KAEC is spread over 168 million sq m and has six key components - the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. The Saudi Arabian General Investment Authority (SAGIA) is the prime facilitator of the project.

Work is on progress at KAEC with the Presentation Center and a 15 km access road already completed. Construction of the first phase including the Industrial Zone, Sea Port, Resorts and Residential Communities has begun. KAEC is located on the Red Sea coast, offers easy access to the two Holy Cities of Makkah and Madina and is also close to Jeddah.

Dubai Property News

Dubai, UAE, May 26, 2007: Emaar Turkey, the country-subsidiary of Emaar Properties, is unveiling its pioneering residential master-planned project, Tuscan Valley Houses, at a special preview and country seminar in Dubai. A preview of the project located in Buyukcekmece will be made at the event to be held at The Old Town Sales Centre on May 28 and 29, 2007. Amlak Finance is offering easy home finance options to investors.

Following a seminar on property investments in Turkey by Pricewaterhouse Cooper on May 28 from 10am to 1pm, pre-registration will be held from 2pm to 6pm, and from 10am to 4pm on May 29.

The US$700 million Tuscan Valley Houses marks Emaar’s entry into the promising Turkish market, and will replicate the concept of luxury, master-planned residences Emaar has developed in Dubai. Buyukcekmece is one of the fastest growing and much-sought after residential locations near Istanbul, and Tuscan Valley Homes will drive the property market through its collection of 555 luxury villas.

“Turkey is one of the promising markets with a strong growth potential, especially driven by the tourism sector,” said Dr Nader Mohammed, Regional Managing Director, Emaar International. “Emaar will invest a further US$5-10 billion in the next five years in Turkey, to drive our expansion plans for the country. Tuscan Valley Homes demonstrates our commitment to the Turkish market in strengthening the country’s economy by offering a viable investment option in luxury property, which will in turn build tourism growth.”

He added: “Dubai has a strong Turkish community and by inaugurating the sales registration in Dubai, we are offering them the privilege of the first purchase option. The seminar on buying homes in Turkey will be an added incentive for international investors to gain a better insight into the residential property market of the country.”

Mr Ozan Balaban, General Manager, Emaar Turkey, said: “Tuscan Valley Houses will recreate the global luxury standards set by Emaar at its developments in 15 other countries. Through our special preview in Dubai, we want to attract the Turkish community in Dubai as well as international investors to a fast-growing economy.”

He added: “Despite the large area of the project, we are limiting the number of villas to 555 and devoting large spaces for natural landscaping to maintain exclusivity and minimising population density.”

Designed by JZMK of California and AE Mimarlik of Istanbul, Tuscan Valley Houses takes its architectural influences from the Tuscany region. The project will sprawl over 1.4 million sq metres of land, making it one of the largest private sector residential projects in Istanbul. The villas will be built in nine models with construction work to be completed in four phases.

The villas vary in size from 384 to 940 sq m and offers spectacular views of the Sea of Marmara and the Buyukcekmece Lake. Tuscan Valley Houses are easily accessible from the Ataturk International Airport and is less than an hour away from the Istanbul city center.

The project will be marked by lush green landscapes, pedestrian walkways, jogging courses, swimming pools, and two recreation centres featuring basketball and squash courts. Residents can enjoy world-class living in pristine surroundings, with cool ambient temperatures, away from the bustle of the city.

As a self-sustained neighbourhood, Tuscan Valley Houses will also have a vibrant community centre, health and fitness facilities, retail outlets, entertainment options, a Tuscan Street dedicated to restaurants and cafes, child care centre, and other amenities that add value to the lifestyle of residents. Twenty-four hour security and maintenance, and home delivery from the neighbouring supermarket will be added conveniences.

Models of the Tuscan Valley homes will also be open for public preview at Emaar Turkey’s Sales Office soon. Potential investors in the UAE can call 800 Emaar (36227) for more details.

Emaar’s expansion into Turkey is in line with its Vision 2010 to become one of the most valuable companies in the world through geographic expansion and business segmentation. Emaar already has a significant presence in 16 countries in the Middle East and North Africa region, the USA, Europe, Indian Subcontinent and South Asia.