Amman, Jordan, Dec. 13th, 2006 (WAM)---Dubai-basedEmaar Properties has announced that the development value ofits master-planned residential community along the Dead Sea coastis JOD 354 million (US$500 million).

Emaar Jordan, the wholly-owned subsidiary of Emaar Properties,is finalizing the master plan for the project, which will encompassluxury residences, commercial establishments and leisure andentertainment facilities.

Emaar Jordan has already joined hands with a number of regionaland Jordanian investors to form The Dead Sea Company, which willundertake the project in line with the growth plans outlinedfor the country by the King Abdullah II Fund for Development.

"With a development value of US$500 million, the Dead Sea projectby Emaar is one of the largest undertakings in Jordan's propertysector recently," said Issam Galadari, Managing Director,Emaar International - Middle East and North Africa.

"We are confidentof Jordan's prospects as an emerging market in the Middle Eastand North Africa region, and with the current project, we areextending our proven strength of developing master-planned residences."Emaar Properties is the pioneer of developing gated communitiesin the UAE and has to date handed over more than 14,500 homesin Dubai. "By integrating commercial and leisure elements ina residential community, we are contributing to the growth ofthe local economy by creating a self-sustained neighborhoodand offering job opportunities for the local residents," addedGaladari.

Emaar Jordan's Dead Sea project aims to boost tourism growth- one of the key drivers of the national economy. "The governmenthas undertaken concerted measures to boost tourism and informationtechnology in the country," said Galadari. "Special economiczones are being developed to encourage foreign direct investment.

These are encouraging signals for Emaar Properties, currentlyexpanding internationally with a special focus on emerging markets."The Dead Sea project by Emaar Jordan will also have retail facilitiesand a full-fledged golf course and clubhouse. "It is importantthat residential developments add value to the lifestyle of itsresidents," said Steve McCartt, General Manager, Emaar Jordan.

"Emaar has proven expertise in offering a community-centric lifestylein Dubai through various leisure and retail components that areintegrated into its residential projects. The Jordan projectderives inspiration, idea and management expertise from the company'sDubai experience."McCartt said the project will appeal to a large number ofJordanians, who are already living and working in Dubai. "Theyare familiar with the Emaar brand name and they appreciate thequality of build and level of excellence that characterize thedeveloper's projects in Dubai. By developing a residential projectin Jordan, Emaar is offering Jordanians living in Dubai too,an opportunity to invest in their home country."Emaar Properties has already worked closely with Jordan havingsponsored the World Economic Forum in Jordan last year.

Emaar's Jordan developments are in line with the global propertydeveloper's Vision 2010 of becoming one of the most valuablecompanies in the world. Emaar strengthened its internationalpresence recently with the acquisition of John Laing Homes, thesecond largest privately held homebuilder in the US, and HamptonsInternational, a premier UK realtor.

The company has unveiled prestigious projects in Saudi Arabia,Morocco, Egypt, Tunisia, Turkey, Syria, Pakistan, Libya and India.