Dubai, Feb. 19th, 2006 (WAM) - Emaar Properties held the first Board of Directors meeting today following the formation of a new company for its Umm Al Quwain Marina project.

The meeting was presided over by Sheikh Mohammed Bin Rashid Al Mualla, Chairman and attended by Mohamed Ali Alabbar, Executive Vice Chairman and Emaar Middle East represetative, Yousef Ali Fadhel, Member and Umm Al Quwain Government representative, Saad Abdul Aziz Al Fouzan, Member and Watad Properties Company representative, Ahmad Al Matrooshi, Member and Emaar Middle East representative and Issam Galadari, Member and Emaar Middle East representative.

During the meeting the Board approved project contracts and agreed on contractors for the following services: Project Management Services, Marine and Infrastructure Engineering Services, Quantity Surveying Services, Detailed Master Planning Services and Research Consultancy Services. The Board also discussed the company organisational chart, authority matrix and general progress of the project.

Umm Al Quwain Marina is a vast masterplanned waterfront community located on the shore of Khor al-Beidah. The masterplan blueprint would see residential villas and apartments the vast majority either waterfront or beach front created on the site. Some of the villas with waterfront views will be built on a large island with gated access and a series of smaller private islands will offer luxury waterfront villas. In addition, resort and hotel rooms as well as parks and recreational areas, retail facilities, schools and community centres are planned.