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Emaar unveils new villa community within The Lakes at Emirates Living

Well-established neighbourhood with all amenities in close proximity

Launch on April 28; on-line registration to be announced soon

Emirates Islamic Bank offers easy home finance

Dubai, UAE; April 19, 2007: Emaar Properties offers an opportunity to own villas within its established Emirates Living neighbourhood, with the launch of Ghadeer at The Lakes. One of Emaar 's premier villa communities, The Lakes is located near Emirates Hills and the Emirates Golf Club, and offers the most picturesque living environments set amidst placid lakes and in close proximity to a variety of lifestyle amenities.

Ghadeer will form a part of a gated community offering direct access to a bustling community centre with several retail outlets. Investors can choose from a range of two-storey, attached and detached villas, varying in size from 2,811 to 4,759 sq ft, and featuring three-, four and five-bedrooms and two car parking spaces each. The Mediterranean styled villas will be ready for occupancy in the second half of 2009.

"As one of the few world-class villa developments in Dubai, The Lakes has always been one of the most-sought after residential communities," said Hussain A. Belshalat, Senior Sales Manager, Emaar Properties . "Ghadeer addresses the burgeoning demand for villas, which are currently limited in supply in Dubai. With the new collection of villas, Emaar is also offering a new opportunity for potential owners and investors to buy a home in one of the well-established neighbourhoods."

"The Lakes is part of Emaar 's fully established Emirates Living neighbourhood, which includes Emirates Hills, The Springs, The Meadows, The Greens and The Views," added Belshalat. "Additionally, Ghadeer offers buyers the advantage of enjoying an entire range of existing amenities including a flourishing community centre, schools, nurseries, day care centres and shopping outlets."

The Lakes already comprises four communities - Zulal, Maeen, Deema and Forat. Ghadeer is located along the north-east boundary of The Lakes and can be easily accessed through three main highways - Sheikh Zayed Road, Emirates Road and Al Khail Road. All homes within Ghadeer offer privacy to residents and have gardens enclosed within walls.

On-line registration for the villas through the Ghadeer page on www.emaar.com will be announced soon with potential buyers having the opportunity to browse through the various floor plans. On the basis of an audited random selection that will take place after registration closes, a limited number of applicants will be invited to the launch event on April 28, where they may have the opportunity to buy the villas.

Emirates Islamic Bank is offering easy home finance of up to 96 per cent of the villa's value on the launch day. "There is a huge gap between the demand and supply of quality villas in Dubai, and Ghadeer at The Lakes addresses this felt need," said Faisal Aqil, General Manager - Retail Banking, Emirates Islamic Bank . "Our easy home finance option will help buyers own a home in one of the most sought-after locations in Dubai by paying easy installments."

Potential buyers can call 800 EMAAR (36227) for more details on Ghadeer.

-Ends-

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 Kingdom's largest private sector project. Emaar 's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Egypt, Turkey, Libya, India, Pakistan, the US and the UK.

A multiple-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 real estate company; and formed a joint venture with 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 resorts and hotels world-wide and 100 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:
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) 334 4556
E-mail: k.home@asdaa.com, n.william@asdaa.com

© Press Release 2007