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Nakheel's Waterfront progressing well

20,000 workers and 3,000 construction vehicles on-site

A quarter of earth works complete

Dubai, 03 February 2008: Nakheel , one of the world's largest and most innovative developers, is making significant progress at Waterfront - the largest waterfront development in the world - with more than 20,000 workers and 3,000 construction vehicles on site and a quarter of earth works already completed.

Located on the western shores of Dubai, Waterfront will transform 1.4 billion square feet of empty desert and sea into an international community for an estimated population of 1.5 million people that is twice the size of Hong Kong Island. Waterfront is being developed on the last 15km of natural coastline in Dubai and will provide more than 70km of coastline in total, including the development of 23 per cent of the Arabian Canal.

The self-sustained city, which is 65 per cent of the current Nakheel landbank, has two main components: the mainland, covering an area of 13km by 7.5km; and the Waterfront Islands, a six island 'archipelago' stretching 15 km into the Arabian Gulf and covering a combined area of 2,300 hectares.

Detailed design and planning for the first five phases has been completed; the result of years of research and feasibility studies by world-renowned architects, planners, engineers and consultants. More than 3,000 construction vehicles, including cranes, barges, dredgers and boats are currently on site, with close to 1,000 professional staff and 20,000 workers. Earth works on the mainland are more than 80% complete, with a total of more than 40 million cubic metres of land graded in little more than a year. Approximately 30% of the first 400 hectare island has been reclaimed, with reclamation underway on further islands. The amount of land being reclaimed each month is 3.52 million cubic metres - enough to fill Wembley Stadium three times.

Major civil works and infrastructure has commenced on the first phase, Madinat Al Arab. Construction of the 8.0km Palm Cove Canal, which runs parallel to the coastline, began in February 2007, with 65% of work completed. Three 160 metre canal bridges have also started construction this month, while work on three interchanges is set to start early next year.

Matt Joyce, Waterfront Managing Director, said: "Waterfront is the largest and most ambitious urban development project in the world. Visible from outer space, it is an entirely new city masterplanned from scratch on a blank canvas - no city of this size has ever been masterplanned to such a scale and degree. The unique master plan of Waterfront will ensure it is a major landmark of the region transforming a desert settlement to a city of global prominence."

Positioned between the leading hubs of the UAE, with the capital Abu Dhabi to its west and the commercial hub of Dubai to its east, Waterfront is located close to prime international commerce and industry hubs Jebel Ali Port, Dubai World Central Airport, and the Jebel Ali Free Zone.

Waterfront will comprise a wide variety of residences, commercial districts and industrial areas, with a number of major tourist attractions and leisure amenities expected of a city for more than a million people. In addition to the high-end residential and business properties, Waterfront will also provide a range of affordable housing for Dubai's working community, offering a variety of accommodation, complete with a range of services and amenities.

Waterfront is on track to becoming the exemplar sustainable city founded on resource efficiency, social equity, and economic prosperity. Minimizing ecological impact is considered in every decision of the city's design, construction and operation. Energy and water conservation are achieved through integration of utilities in dedicated utility centres, where process streams are interlinked and waste is transformed into energy to power the city. Simulation is used in building design to ensure tough energy efficiency targets are achieved.

The city will be supported by a comprehensive public transport system, which will reduce the dependence on the car. Simulation is also used to orient the city, optimising shade and sea breezes and using built form as a shield against the hot desert wind. Designing for the climatic comfort at a human scale will encourage pedestrian activity leading to a healthier and more active community.

-Ends-

Notes to editors
All information provided is correct at time of printing/release

As masterplans for projects have the flexibility to evolve, facts and specific statistics may change in the future. Please ensure you contact us on a regular basis on nakheel@fourcommunications.com for regular updates or visit the online Nakheel Media Centre at www.nakheelmediacentre.com

All rendered images are conceptual

About Nakheel
Nakheel is one of the world's largest privately held real estate developers, and a key player in realising the vision of Dubai for the 21^st century: creating a world class destination for living, business, and tourism.

Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai across a range of sectors - residential, commercial, retail, and leisure. Nakheel 's developments spread across more than two billion sq ft of land, and its projects are projected to be worth US$60 billion. Upon completion Nakheel 's waterfront projects will have added more than 1000km of shoreline to Dubai's coastline.

Nakheel 's portfolio currently includes The Palm Jumeirah, The Palm Jebel Ali, The Palm Deira, The World, Waterfront, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, Dragon Mart Complex, Dubai Promenade, The Universe, Port Rashid and Dubai Design Centre.

Nakheel is a key entity within Dubai World. Dubai World is one of the world's largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.

Further information can be found at www.nakheel.com.

For more information please contact:
Four Communications
Nakheel@fourcommunications.com
Tel: +971 (0)4 362 5129 / +44 (0) 870 444 4568

Nakheel
Aaron Richardson, Media Relations Manager
+971 4 368 6946 / +971 (0)50 553 8201
aaron.richardson@nakheel.com

© Press Release 2008