Islamabad, Pakistan - Emaar Pakistan, a subsidiary of global property developer Emaar PropertiesEmaar Properties PJSC, will start sales registration for its first master-planned community in Karachi - Crescent Bay - from December 9, 2007. Potential investors can register for residential apartments at the Emaar Pakistan sales offices in DHA Karachi, Canyon Views Sales Centre in Islamabad and EmaarEmaar's Downtown Burj Dubai Sales Centre in Dubai.

Crescent Bay is part of a multi-billion dollar investment by EmaarEmaar in Pakistan for creating world-class mixed-use communities that will energise the local economy and create employment opportunities. EmaarEmaar is developing the Highlands and Canyon Views in Islamabad, and Crescent Bay in Karachi. Canyon Views villas and town homes project were launched last year and received overwhelming investor response.

Located in Karachi's DHA Phase 8 and in close proximity to the DHA golf course, Crescent Bay is a 108-acre development featuring high- and mid-rise towers for residential and commercial use, a shopping centre and a 5 star beachfront hotel. The project - to be completed in five to six years - will have 34 high-rise residential towers. International master-planners and architects are working with renowned local contractors on the project.

Mr Mohammed Al-Falasi, Managing Director, Emaar Pakistan, said: "EmaarEmaar is introducing a new concept in modern living with our master-planned projects, and we have already gained strong investor support with the launch of Canyon Views in Islamabad. Crescent Bay will introduce the same luxury standards to Karachi, and will be a truly integrated lifestyle destination."

He added: "Sales registration for residential apartments will open on December 9, and potential investors will have the first right to choose their home. We are putting in place these norms to meet the strong investor response that is anticipated and give all investors equal opportunity to make their purchases."

The official launch of sales will be announced at a later stage, and registered buyers will be invited in pre-scheduled batches for easy conduct of the sales process.

Crescent Bay is easily accessible from downtown Karachi and the city's central business district. The project will feature an array of amenities including a full-fledged commercial area, swimming pool, fitness centres, sports facilities, parks and children's play areas.

EmaarEmaar's expansion into Pakistan is in line with its Vision 2010 to become one of the most valuable companies in the world.

- Ends -

Note to Editors

About Emaar PropertiesEmaar Properties PJSC:
Emaar PropertiesEmaar 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, EmaarEmaar is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.

EmaarEmaar 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. EmaarEmaar 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, EmaarEmaar is extending its expertise in creating master-planned communities to international markets. EmaarEmaar is also developing new competencies in malls, hospitality & leisure, education, healthcare and financial services, 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, EmaarEmaar 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, EmaarEmaar is developing the US$26.6 billion King Abdullah Economic City, the region's largest private sector-led project. EmaarEmaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Libya, Algeria, India, Pakistan, Indonesia, the US, the UK, France and Canada.

An award-winning developer, EmaarEmaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. EmaarEmaar 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.

EmaarEmaar 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. EmaarEmaar acquired Singapore-based leading education provider, Raffles Campus, to extend expertise to its educational institutions.

EmaarEmaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. EmaarEmaar 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
E-mail: k.home@asdaa.com, n.william@asdaa.com

© Press Release 2007

 

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