Emaar International Jordan signs agreement

Notes and media contacts

-ends-




Photo caption:
Mr Tarek Awad, Vice Chairman, Dead Sea Touristic and Real Estate Investment Company; Mr Nabil Mushahwar, Regional Manager - Retail Banking Group, Arab Bank; and Mr Steve McCartt, General Manager, Emaar International Jordan at the signing of the agreement between Dead Sea Touristic and Real Estate Investment Company and Arab Bank for the provision of long-term, home finance support to customers of Samarah Dead Sea Resort.


Note to Editors

About Arab Bank:
Arab Bank was established in 1930, its founding mission has been the driving force behind the significant role it has played in advancing Arab Economies through financing strategic projects across the Middle East and North Africa (MENA). It was - and still is - a key player in facilitating Pan Arab trade in connecting the world to MENA markets

After eight decades, Arab Bank, headquartered in Jordan, maintains a leading global network and enjoys a prominent position in the MENA region centers such as Dubai, Manama and Doha and key international financial centers such as London, Zurich, Frankfurt, New York, Singapore and Sydney.

With the world's largest Arab Banking branch network and a global team of high caliber professionals, Arab Bank is uniquely positioned to be a partner of choice for MENA expertise.

Arab Bank is a diversified financial institution that extends a broad range of products and services in different areas such as Corporate and Investment Banking (CIB), Wealth Management and Retail, all of which cater to the needs of corporate and institutional customers, government agencies and individuals internationally.

Arab Bank Group's network covers over 400 branches in 29 countries spanning 5 continents in Jordan, Lebanon, Palestine, UAE, Qatar, Bahrain, Yemen, Egypt, Morocco, Algeria, Oman, Saudi Arabia, Tunisia, Syria and Libya. The bank also operates in Switzerland, Germany, Austria, United Kingdom, France, Italy, Spain, U.S.A, Singapore, China (Shanghai and Hong Kong), South Korea, Kazakhstan, Australia and Turkey.

This network is based on the long-standing strategy to build a presence in regions that best fit the overall vision of Arab Bank to be the leading Arab financial institution of the Arab World.

Arab Bank Group is one of the largest banking institutions in MENA. At end of March 2008, its shareholders' equity base reached US$7.1 billion, and a total assets of US$40.5 billion, and a pre-tax and provisions profit of US$295 million

About Emaar International Jordan:
Emaar International Jordan is the subsidiary of Dubai-based Emaar Properties PJSC, a global property developer with six business sectors, more than 60 active companies and a collective presence in over 36 markets spanning the Middle East, North Africa, Pan-Asia, Europe and North America.

The Dead Sea Touristic and Real Estate Investment Company, formed by Emaar Properties PJSC along with a group of regional and Jordanian investors, owns the project in line with the growth plan for Jordan as outlined by the King Abdullah II Fund for Development. The Dead Sea Touristic and Real Estate Company unveiled the Samarah Dead Sea Resort, a mixed master-planned community, in November 2006. The project features luxury villas, beachside amenities and an extensive retail spread.


Emaar International Jordan has opened its corporate office in Amman at the Rabia Towers.

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, ranked on the FT 500 Global companies, is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.

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, on its way to become the world's tallest tower. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Algeria, Libya, India, Pakistan, Indonesia, the US, the UK, France and Canada.

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, Accor Hotels and Premier Travel Inn to strengthen its presence in hospitality, and will launch ten luxury Armani Hotels & Resorts world-wide and 180 budget hotels in India.

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. For more information, visit www.emaar.com.


For further information, please contact:
Kelly Home / Nivine William
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969; Fax: (+971 4) 335 6080