Tunis, 16 April, 2006 (WAM) --  Emaar Properties PJSC, the world's number one property developer, today announced its plans to develop the AED 6.7 billion (US$1.88 billion, TND 2.54 billion) Marina Al Qussor project on Tunisia's eastern coastline. The 442 hectare Marina development is located within the county of Sousse towards the southern end of the Golfe de Hammamet and will offer a mix of living options and tourist attractions with a large Marina Village at its centre.

At a special ceremony in the capital Tunis yesterday, Emaar Chairman Mohamed Ali Alabbar presented the high profile project to the Tunisian President Zine El Abidine Ben Ali. The project will add a premier tourist destination on the southern shores of the Mediterranean away from the hustle and bustle and yet be closely located to Tunisia's key cultural sites for tourists to explore.

Speaking at the event, Alabbar said: "We are honored to showcase Marina Al Qussor to Tunisia's President Zine el Abidine Ben Ali today. Tunisia is a country rich in heritage and we look forward to the opportunity of adding to its world class attractions with the development of Marina Al Qussor. This project is a timely addition to Tunisia's thriving tourism industry which has been attracting the world's attention." "Yesterday's presentation sees us looking at other parts of North Africa for the development of our master planned communities and lifestyle options that have become synonymous with Emaar. With its thriving tourism industry, Tunisia is a significant market for Emaar to roll out such communities that offer everything from a thriving resort atmosphere to a quiet retreat," said Alabbar.

Emaar's Marina Al Qusoor development is in line with Tunisia's tourism policy which is currently focused on residence tourism which enables high end tourists to buy homes in areas with beautiful landscape for longer stays. The country attracted 6.4 million tourists in 2005 and is aiming for tourism revenue of close to US$2 billion in 2006.

The various components of Marina Al Qussor range from over 4,000 residential units with villas, townhouses and apartments located on the lakeside, beach, marina and quayside, six hotels ranging from luxury boutique to four star located on the beach and marina, leisure facilities with the marina, yacht club, beach clubs, spa resort, sports club, 18-hole golf course, clubhouse, driving range, and retail space located on the marina and quayside.

The development offers a series of ever changing environments ranging from natural lakes to golf landscapes and olive groves to the existing El Medfoun forest and sandy beaches. In contrast to these natural landscapes, the central marina village area will offer the ideal backdrop to the hustle and bustle of the resort centre. The village will become the heart of the resort with shops, restaurants and apartments surrounding the 400 berth marina that will support boats of all sizes including large private boats that cruise the Mediterranean.

The architectural character of the development is based on numerous distinctive traditional Tunisian elements from building techniques to styles and materials.

Low rise buildings add to the charm of the site allowing uninhibited views across the development.

Emaar's innovative offering of self-contained, amenities-rich communities have created lifestyle options that have been the first choice for many investors. The integration of schools, health facilities, parks, landscaped environs and retail centers within master-planned golf, equestrian and marina themed communities has proven to a big attraction for the home buyer.

With joint ventures and projects covering Morocco, Saudi Arabia, Turkey, Syria, Egypt, India, Pakistan and now Tunisia, Emaar is taking its winning formula first conceived in its home base Dubai to the rest of the world.

Note to Editors About Emaar Properties PJSC: Emaar Properties, the Dubai-based Public Joint Stock Company and No, 1 real estate company in the world, is listed on the Dubai Financial Market and is part of the Dow Jones Arab Titans Index. The company recently announced that its net profits for the first quarter ended 31 March 2006 reached AED 1.517 billion (US$406.9 million) an impressive rise on the AED 1.325 billion (US$355.4 million) for the equivalent period. Gross profit for the same period reached AED 1.487 billion (US$398.8 million) compared to AED 1.435 billion (US$384.9 million) achieved during the same period last year.

Emaar's net profits for the year ended 31 December, 2005 climbed 180 per cent, to a record AED 4.731 billion (US$1.288 billion). The figures represent a substantial increase on the AED 1.691 billion (US$460 million) for the year 2004.

The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base with more than 13,000 homes handed over to satisfied customers to date. Currently, it has several major real estate projects under various stages of development in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The Views, The Meadows, The Springs, The Lakes and The Greens. The company also owns and manages the Gold and Diamond Park.

Emaar has started construction on its most ambitious project to date, the AED 73 billion (US$20 billion) Burj Dubai development, which comprises the Burj Dubai the tallest tower in the world when completed in 2008, The Dubai Mall, Burj Dubai Boulevard, The Lofts, The Old Town, The Old Town Island, The Residences, Burj Views, man-made lakes, landscaped parks and gardens. The company has joint ventures and projects across the region covering Saudi Arabia, Egypt, Syria, Morocco, Turkey, India and Pakistan.

Last year the award winning property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 100 malls in the mega emerging markets of the Middle East, North Africa and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world, an Armani hotel will feature in Emaar's flagship Burj Dubai tower.

Recently the company also announced plans to expand its investments into the education and healthcare business. The education initiative will involve the establishment of international schools in the MENA region and India, which will offer premium quality education and an integrated curriculum for students ranging from kindergarten to tertiary levels. Emaar's healthcare diversification will see the company invest around AED 18.35 billion (US$5 billion) over the next decade in the MENA and South Asia markets with the construction of hospitals, clinics and medical centers and the investment in the provision of world-class healthcare services.

While continuing to actively pursue expansion in its core business of innovative, high quality real estate development, Emaar has diversified into related business lines to further build value for its 59,000 shareholders, which includes the Government of Dubai. Emaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company. For further information, please visit www.emaar.com.