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Tuesday, November 10 - 2009

Emaar Pakistan to hold balloting for registered customers of Crescent Bay on March 31

  • United Arab Emirates: Sunday, March 30 - 2008 at 13:12
  • PRESS RELEASE

Emaar Pakistan, the country subsidiary of the world's leading property developer Emaar Properties PJSC, will hold a balloting for registered customers of Crescent Bay development on March 31, 2008.

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  • An aerial view of Crescent Bay.
    An aerial view of Crescent Bay.
The balloting follows overwhelming sales interest to the Crescent Bay launch recently. Potential customers who registered will be selected from the lot for a right to purchase homes and office space within the master-planned community.

To ensure fair and transparent allocation of the properties to all customers who had registered at Karachi, Islamabad and Dubai, Emaar Pakistan has commissioned the service of a third party to conduct the balloting. Representatives of the media and the management of Emaar Pakistan will be present.

Mr Mohammed Al-Falasi, Managing Director, Emaar Pakistan, said:

"We thank customers for their overwhelming interest in Crescent Bay, one of the flagship projects of Emaar Pakistan. The balloting will ensure fair distribution of properties within Crescent Bay to the registered customers. Crescent Bay has been envisaged as a world-class development that will further energize the Pakistani economy by creating new job opportunities and supporting the growth of ancillary industries".


Results of the balloting will be displayed on the Emaar corporate website (www.emaar.com) within a week after balloting.

Crescent Bay is a part of the multi-billion dollar development projects Emaar has announced in Pakistan.

It is part of Karachi's DHA Phase 8, which includes the DHA Golf Course and is ideally located near Karachi's central business district.

Crescent Bay covers 108 acres, and will include high and mid-rise towers for residential and commercial use, all replete with comprehensive amenities.

The master-planned community will include a shopping centre as well as a 5-Star beachfront hotel.
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About Emaar Properties PJSC:
Emaar Properties PJSC is one of the world's largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.

Emaar has highlighted its remarkable global growth by debuting on the Financial Times Global 500 ranking, which provides an annual snapshot of the world's largest companies. Emaar has been assigned A- and A3 ratings with stable outlook by Standard & Poor's and Moody's Investor Services, respectively.

Replicating its successful business model in Dubai, Emaar is extending its expertise in creating master-planned communities to international markets. Emaar is also developing new competencies in malls, hospitality & leisure, education, healthcare and finance, which have evolved from its integrated approach to customer service and property development.

Listed on the Dubai Financial Market, part of the Dow Jones Arabia Titans Index and certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, the world's tallest building and free-standing structure, and The Dubai Mall, one of the world's largest shopping and entertainment destinations. In Saudi Arabia, Emaar is developing the $26.6bn King Abdullah Economic City, the region's largest private sector-led project. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Libya, Algeria, India, Pakistan, Indonesia, the US, the UK, France and Canada.

An award-winning developer, Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America's second largest privately held home builder; Hamptons International, UK's premier realtor; and formed a joint venture with US-based Turner International to strengthen execution capabilities.

Emaar has joined hands with Giorgio Armani and Accor Hotels to strengthen its presence in hospitality, and will launch ten luxury Armani Hotels & Resorts world-wide and 100 Formule 1 budget hotels in India. The company is opening educational institutions and healthcare centers in South Asia, Middle East and North Africa and the Subcontinent. Emaar acquired Singapore-based leading education provider, Raffles Campus, to extend expertise to its educational institutions.

Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company.

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