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Sunday, November 29 - 2009

Emaar Middle East's Al Nada residential village at Al Khobar Lakes opens to sell-out response

Emaar Middle East has recorded sell-out response to the sales launch of Al Nada, the first residential village within Al Khobar Lakes, which started on May 14, 2008.

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  • Al Khobar Lakes home model.
    Al Khobar Lakes home model.
The first few hours of sale saw record home buyer and investor turn-out with all villas offered for sale being sold. Customers chose from an array of three- to six-bedroom villas in the integrated residential community.

Al Nada is the first of nine residential villages that will be launched soon in the first phase of Al Khobar Lakes. Al Nada occupies 250,000 sq m of area within the 2.6 million sq m first phase of Al Khobar Lakes. The village features 242 elegant villas with residents having direct access to a 13,000 sq m lake.

Eng. Alaa Abdullah Saed, Chief Executive Officer, Emaar Middle East said that the sell-out customer response for Al Khobar Lakes highlights its appeal as a unique residential destination that meets of the requirements of Saudi families. The villas offer total privacy to residents while also ensuring close proximity to various lifestyle amenities - all set around serene lakes and wide green areas.

He added:

"We are thankful to customers for their interest in Al Nada residential village and Al Khobar Lakes. Emaar Middle East is committed to finishing the project on schedule in the second half of 2010. Work is on course to start in the next few weeks with several contracts being awarded for various aspects of the construction."


The SR4.6bn ($1.2bn) first phase of Al Khobar Lakes is one of the largest master-planned communities in the Eastern Province. Amenities include eleven mosques including a Grand Mosque for Friday Prayers, two separate schools for boys and girls, healthcare facilities, a shopping centre, a community centre that includes a recreation club, swimming pools, nursery/kindergarten, convenience retail, public area, and food & beverage outlets

Al Khobar Lakes is located in close proximity to Al Khobar City, Dhahran and Dammam, and can be accessed conveniently from two highways, Dhahran-Beqaiq Highway and Abu Hadria Street which connects to Bahrain, Al Khobar, Dammam and Riyadh. Al Khobar Lakes is only 43 km from King Fahd International Airport.

Emaar Middle East recently launched Jeddah Gate, a SR6bn ($1.6bn) mixed-use project currently under construction. Located in the heart of the city and positioned along King Abdullah Road, Jeddah Gate comprises 6,000 residential units, retail and commercial space, pedestrian walkways and landscaped plazas, and other amenities.
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Notes and media contacts

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, China, 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 centres 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% 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.

For further information, please contact:
Bashar Kharbat / Saleh Al Hamamy
ASDA'A Public Relations
Jeddah, Saudi Arabia
Tel: (+966 2) 6575194/ 195/ 196
Fax: (+966 2) 6575277

Kelly Home/ Nivine William
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide
in Middle East & North Africa
Dubai, UAE
Tel: (+971 4) 334 4550; Fax: (+971 4) 334 4556

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