| 19 Jul 2007 |
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Umm Al Quwain Marina breaks ground for first phase of residences
Mr Ahmad Al Matrooshi, UAE Managing Director, Emaar Properties (third from the left) together with Mr Yousif Ali Fadil Bin Fadil, Member of the Board of Directors of Umm Al Quwain Marina LLC (fourth from the left) at the ground-breaking ceremony.
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• Mistral community to feature Spanish and Portuguese-styled homes
Umm Al Quwain - Umm Al Quwain Marina LLC, the joint venture between the government of Umm Al Quwain and Emaar Middle EastEmaar Middle East
, has broken ground for the first phase of residences with the AED 12 billion (US$3.3 billion) Umm Al Quwain Marina development located by the scenic Khor Al Beidah natural lagoon. Mr Ahmad Al Matrooshi, UAE Managing Director, Emaar Properties and Member of the Board of Directors of Emaar Middle EastEmaar Middle East
, and other dignitaries attended the ground-breaking ceremony. Mr Al Matrooshi said: "Umm Al Quwain Marina is the pioneering master-planned community in the emirate creating a new benchmark in lifestyle property development. We are thankful to the government of Umm Al Quwain for their continuous support in executing this project. Umm Al Quwain Marina will support the governmental initiatives in establishing a new direction of growth for the property sector."
The Mistral community, the first phase of homes at Umm Al Quwain Marina, comprises single-family detached villa homes ranging in size from 3,458 to 4,311 sq ft. Amenities include schools, supermarkets, mosques and community centres set amidst landscaped gardens and pedestrian pathways that lead to an open beach and town centre. Residents can also access a range of Marina-based activities.
Mr Al Matrooshi added: "The Mistral homes, launched earlier this year, have attracted positive sales response. The proximity of the villas to the Marina and the various lifestyle amenities available for residents make Umm Al Quwain Marina a true value proposition for investors."
Emaar Middle EastEmaar Middle East
has selected a team of industry leaders to spearhead each major development area of this first phase: global architectural firm HOK have master planned the development, Al Wasl Al Jadeed serve as lead consultant and Arabtec as the main contractor for the Mistral villas. The 2,000-acre Umm Al Quwain Marina development, which features 23 km of waterfront and 450 acres of navigable water, will also include town homes, boutique villas, retail outlets and recreational facilities.The Umm Al Quwain Marina Sales Centre is conveniently located onsite and just off the coastal Dubai-Umm Al Quwain highway. The centre is open from 9am to 6pm during the week and from 10am to 6pm on Fridays. Potential investors can also visit www.ummalquwainmarina.ae or call toll free 800-EMAAR (36227) for more details on the project and the easy home finance options provided by several financial institutions.
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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.
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 retail, hospitality and leisure, education, healthcare, finance and industry, 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, on its way to become the world's tallest tower, and The Dubai Mall, one of the world's largest shopping and entertainment destinations. In Saudi Arabia, Emaar is developing 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, 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 resorts and hotels 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 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:
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