EMAAR Properties expresses its thanks and appreciation to HH Sheikh Mohammed

The large-scale, unique flagship project is located in the juncture of three key ring roads leading to Al Ain, Abu Dhabi and Dubai. The area of land for the new project, which will commence construction in February 2002, totals 125 million square feet.

The Board of Directors of EMAAR Properties has offered its thanks and appreciation to His Highness General Sheikh Mohammed, Crown Prince of Dubai and UAE Minister of Defence, for his continuing support to the company in the context of his willingness to generate economic benefit to the largest number of UAE citizens, as EMAAR Properties has the biggest base of UAE shareholders of any national company.

The Board added that support of His Highness since the inception of EMAAR Properties and his continuing follow-up to its many projects has helped to make EMAAR the biggest property developer in the region.

In a statement the company announced that the land on which the project will be built would be automatically added to the assets of the company after concluding official registration. It will be added to the other areas of land already donated by the Government of Dubai to EMAAR in the past to help the company undertake its wide ranging development projects that are continuing to enhance the development of exciting new real estate projects in the UAE.

The new project is to be built featuring two world-class golf courses - one of which will be a desert course - and an equestrian centre, international quality resort hotel featuring 50 individual chalets for guests and 400 housing sites overlooking the golf course. The project will further assist in the development of Dubai's growth as a centre for tourism and leisure activities.

This integrated equestrian community will have 1800 villas and 400 townhouses in varying sizes and design that will be available for both purchase and rental, targeted to attracting members of Dubai's cosmopolitan expatriate business community as well as UAE and GCC residents.

This new project is part of EMAAR's strategic plan to offer even better returns for its shareholders and further enabling and supporting the future development of Dubai and the national economy in general. Other world-class projects offered by EMAAR include Emirates Hills, Dubai Marina, The Lakes and Gold and Diamond Park, a unique Free Zone manufacturing facility for the jewellery trade.

ENDS