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Monday, November 23 - 2009

Emaar Misr highlights 'ready to live in homes' as lifestyle sponsor of Le Marche exhibition

Emaar Misr for Development, the wholly-owned subsidiary of global property developer Emaar Properties, is highlighting the world-class design, development and execution of its residential projects at Le Marche, the country's premier interior design and furniture exhibition.

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  • Emaar Misr Sales Centre.
    Emaar Misr Sales Centre.
Emaar's homes have the distinct appeal of being 'ready to live in' and are fully furnished and equipped including air-conditioning, custom kitchen cabinetry, finished doors, flooring and wall treatments. The residences are built to highest international standards and feature superior finishing that greatly complement interior design approaches.

The design and development approach of delivering fully functional, ready to furnish homes thus ensures that customers have the added convenience of needing little or no time to move in to their new Emaar homes. The ready-to-furnish ambience of delivered homes in Emaar communities also means that customers can be part of a full-fledged, ready, streetscaped neighbourhoods where all surrounding construction work has been completed.

Mr Sameh Muhtadi, Chief Executive Officer, Emaar Misr for Development S.A.E, said: "Emaar Misr's participation in Le Marche marks the first time that a premier property developer is the lifestyle sponsor of an interior design exhibition. This underscores Emaar Misr's commitment to develop fully integrated communities that offer all lifestyle amenities and our focus on providing our customers ready to live in homes, and to make their home accessorizing options easier."

He added:
"By partnering with Le Marche, we are simply saying that an Emaar home only needs furniture and the personal touch of its owner assisted by Emaar's own interior design team. As the lifestyle sponsor of Egypt's premier furniture and decoration show, we are highlighting that the integrated communities coupled with the world class quality we offer are bringing a new lifestyle experience to the market."


At Le Marche, Emaar Misr will showcase three of its master-planned communities - Uptown Cairo, Marassi and the EGP5.75bn Mivida, our newest residential community in New Cairo City. Uptown Cairo and Marassi have opened to strong investor response, and construction work is progressing ahead of schedule.

A sneak preview of Mivida - for the first-time ever - will be one of the highlights at Le Marche. Mivida combines the dynamism of urban lifestyles with the serenity and tranquility of sub-urban living, with modern amenities complementing Santa Barbara style homes set in a full-fledged community.

Situated within the fifth district of New Cairo city, Mivida is in close proximity to the new campus of the American University of Cairo, away from the bustle of city. The 3.8 million sq m development will have about 5,000 luxury homes set in an immaculately laid out master-planned green community featuring several lifestyle amenities.

All homes in Emaar Misr projects are delivered to customers in the final and complete form, and the quality of elegant styling that can provide a total home experience can be explored at the Street of Dreams featuring fully furnished mock-up homes. The Street of Dreams is located at the Emaar Misr sales centre in Al Mukattam.

Commenting on Emaar's projects and plans for Egypt, Mr Muhtadi said: "All our projects are progressing on schedule. Our latest development, Mivida in new Cairo, which will be launched within weeks is a testament that our long-term growth plans for Egypt are solid and are on track."

Emaar Misr is one of the largest foreign direct investors in the country's real estate sector with a development portfolio of EGP31.67bn. Emaar's projects are specifically planned to energise the economy by creating growth engines that support employment creation and the growth of ancillary industries. While the design of the projects is undertaken by international architects, the construction has been contracted to leading Egyptian contractors.
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Notes and media contacts

About Emaar Misr for Development S.A.E:
Emaar Misr for Development S.A.E is the wholly owned subsidiary of the UAE-based Emaar Properties PJSC, a global property developer with a collective presence in over 36 markets spanning the Middle East, North Africa, Pan-Asia, Europe and North America.

Emaar Misr is one of the largest foreign direct investor in Egypt's real estate sector with an investment portfolio of EGP31.67bn ($5.54bn). Emaar's expansion into Egypt is in line with the company's Vision 2010 to become one of the most valuable companies in the world.

Emaar has identified Egypt as a key market for growth, and has announced four key projects: The EGP12bn ($2.1bn) Uptown Cairo; the EGP9.92bn ($1.74bn) Marassi, a 1,544-acre tourist and residential destination at Sidi Abdul Rahman; the EGP5.75bn ($1bn) Mivida residential community located at the fifth district; and the EGP4bn ($700m) commercial cum residential development on the Cairo - Alexandria desert road, which also features the largest outdoor shopping and entertainment destinations in the country, Cairo Gate.

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.

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 the world's tallest building. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Algeria, Libya, India, Pakistan, China, 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% 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:
Nivine William / Sameh Selim
ASDA'A Burson-Marsteller
Tel: (+971 4) 334 4550

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