Cairo, July 11th, 2007 (WAM) - Emaar Misr for Development S.A.E, the wholly-ownedsubsidiary of Emaar Properties PJSC, has announced Cairo Gate, the largestlifestyle and entertainment mall to be developed in Egypt, at the EGP4 billion (Dh 2.58 billion, US$700 million) Cairo-Alexandria Desert Roadproject, Emaar's mixed-use development spread over 160 acres (670,000square metres).

Phase 1 of the mall, with a gross leasable area of 250,000 square metreslocated near the Sheikh Zayed Residential development, 6 October district,Zamalek, Mohandiseen and Dokki areas, will anchor a multitude of world-classshopping brands apart from restaurants, caf?s and leisure outlets witha strong outdoor theme. Two new hotels linked to the shopping mall arealso being planned. Emaar Malls Group LLC, a wholly-owned subsidiary ofEmaar Properties PJSC, will develop the mall in conjunction with EmaarMisr.

Cairo Gate has a frontage of one kilometre along the Cairo-AlexandriaDesert Road near the Smart Village commercial precinct, and will complementthe residential, hospitality and commercial components of Emaar Misr'sdevelopment. The primary catchment areas including 6 October City andGiza have a population of over six million residents.

"Cairo Gate reiterates our commitment to the people of Egypt to createintegrated lifestyle communities through our projects," said MohamedAli Alabbar, Chairman, Emaar Properties. "The outdoor shopping mall isa new concept to Egypt, and with Cairo Gate, we want to bring a new lifestyleexperience to Egypt that will appeal to all sections of the society. Thelifestyle and entertainment mall will be a magnet for greater investmentinflow and also generate employment opportunities for Egyptians."Sameh Muhtadi, Chief Executive Officer of Emaar Misr for DevelopmentS.A.E, added: "With Cairo Gate, Emaar Misr is positioning and pioneeringretail opportunities in Cairo on par with innovative lifestyle shoppingmalls around the world. A strong shopping mall component is particularlyimportant to Egypt, which is focused on long-term tourism growth strategies.

Emaar Malls Group brings invaluable retail development expertise and relationshipswhich will ensure a truly world-class shopping experience. As the drivingforce behind The Dubai Mall, the world's largest shopping centre and premierlifestyle destination, we are sure that the Emaar Malls Group will bringthe same global standards to the Cairo Gate project." Alabbar added: "Emaar has diversified into malls, education, healthcare,finance, industry and hospitality & leisure in line with our Vision 2010to become one of the most valuable companies in the world. Emaar MallsGroup LLC, our wholly owned subsidiary, is developing 150 shopping mallsin emerging markets in the Middle East and North Africa, the Indian Subcontinentand South Asia."Emaar's Cairo-Alexandria Desert Road Community Project also envisagesthe creation of an office park with world-class facilities, residencesand hospitality projects. Other amenities include healthcare centres,schools and places of worship.

Emaar is the single largest foreign direct investor in Egypt's real estatesector and is developing the EGP 12 billion (Dh 7.7 billion, US$2.1 billion)Uptown Cairo, and the EGP 9.92 billion (Dh 6.39 billion, US$1.74 billion)Marassi, a 1,544-acre tourist and residential destination at Sidi AbdulRahman. Emaar Misr has announced the EGP 5.75 billion (Dh 3.7 billion,US$1 billion) residential community located at the fifth district NewCairo City. Investor response to the launch of Uptown Cairo and Marassihas been overwhelming.