| 19 Feb 2008 |
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Emaar-IGO launches sale of Eighth Gate Commercial Centre in Dubai on Feb. 23
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Prime office space within master-planned community near Damascus
Work on the AED 1.84 billion (US$500 million) project is on-schedule
Dubai, UAE; February 19, 2008: Emaar-IGO, a venture between EmaarEmaar
Syria and IGO, an offshore investment and property development company, will host an exclusive sale of prime office space within The Eighth Gate, Emaar-IGO's master-planned community in Syria, at the Downtown Burj Dubai sales centre on February 23 from 10am to 6pm. The Dubai sales event will be a unique opportunity for Syrians in the UAE and investors seeking growth opportunities in Syria to purchase commercial space within the much-sought after Eighth Gate Commercial Centre, located in Yafour, only 15 minutes away from the Damascus city centre.
The AED1.84 billion (US$500 million; SYP26 billion) Eighth Gate has three distinct components - Waterfront, Touristic Area and Commercial Centre. Introducing a new concept in office and retail space development, the Commercial Centre will anchor the largest mall in the Levant region and will also house the Damascus Stock ExchangeDamascus Stock Exchange
. Other highlights of the Commercial Centre are a 32-storey office tower with 1,510 sq m space on each level, and low-rise commercial offices.Dr Nader Mohammed, Regional Managing Director, Emaar International said: "Syria is one of the key emerging markets in the region, and the country offers growth opportunities in several economic sectors. As the pioneering master-planned development in Syria, The Eighth Gate has a strong commercial component to meet the demands of investors - regionally and internationally. The Dubai sales event will showcase the features of The Eighth Gate, which will appeal to both Syrians and others, looking to invest in the country."
Dr. Anas Kouzbari, Member of the Executive Committee of Emaar-IGO, said: "Companies in the UAE are expanding regionally, and Syria is one of their destination markets. The Eighth Gate will be an ideal base for them to explore the high-growth environment of Syria. By hosting a sales event in Dubai, we are also offering Syrians living in Dubai an opportunity to explore investment options in their home-country."
Featuring modern infrastructure of world-class standards, the Commercial Centre of The Eighth Gate was recently launched to strong investor response in Syria. It integrates Arab architectural elements, thus blending the comfort of tradition with the dynamism of a modern workplace.
EmaarEmaar's expansion to Syria is in line with its Vision 2010 to become one of the most valuable companies in the world. An integrated lifestyle provider, EmaarEmaar is expanding to education, healthcare, financial services, shopping malls and hospitality & leisure.
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About EmaarEmaar Properties PJSC:
EmaarEmaar 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, 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, EmaarEmaar is developing Burj Dubai, on its way to become the world's tallest tower. EmaarEmaar'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.
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, 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.
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) 334 4550;
Fax: (+971 4) 3344 556
E-mail: k.home@asdaa.com, n.william@asdaa.com
© Press Release 2008
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