Dubai, Sept. 18th, 2006 (WAM) - Emaar Properties has strengthenedits Egyptian portfolio with landmark development projects thatwill boost the country's tourism initiatives and invigorate thelocal economy by creating new townships and generating employmentopportunities.

Apart from the EGP 10 billion (Dh 6.30 billion / US$1.74 billion)Marassi development on a 7-km strip of tourism resort land thatEmaar had won recently in an auction, the property developerhas entered into strategic local partnerships to create luxury,master-planned communities.

"As an emerging market with strong market fundamentals, Egyptis of key importance to Emaar Properties in building the company'sinternational portfolio," said Dr Nader Mohamed, Managing Director,Emaar Misr for Development S.A.E. "This reflects Emaar's commitmentto its Vision 2010 of becoming one of the world's most valuablecompanies."Work is afoot on Emaar's other projects including the EGP 22billion (Dh 15 billion / US$4 billion) master planned communityat the highest point of downtown Cairo - Uptown Cairo. "Emaarprojects in Egypt are niche developments that lead to creationof self-sustaining master-planned communities, which will invigoratelocal economies. The projects also generate employment opportunities,"added Dr Nader.

Uptown Cairo is being developed on the highest point of downtownCairo and will integrate residential, commercial and retail components.

"Emaar has a proven track-record of delivering 14,000 homes throughmaster-planned community developments in Dubai," said Dr Nader.

"Uptown Cairo will replicate the same concept and targets theupwardly mobile Egyptian population that demands world-classdevelopments."Emaar's most recent initiative in Egypt is Marassi - the 1544-acretourist resort project located on Sidi Abdel Rahman and Alamein.

"To be completed within five-and-a-half years of receiving theland, Emaar will develop a resort with up to 3,000 hotel rooms,a marina, golf course, hospital, healthcare facilities and totaltownship development," said Dr Nader.

Emaar had strengthened its international presence recently withthe acquisition of John Laing Homes, the second largest privatelyheld homebuilder in the US, and Hamptons International, a premierUK realtor. The company is also opening a full-fledged representativeoffice in China, and has unveiled prestigious projects in SaudiArabia, Morocco, Pakistan, Tunisia, Turkey, Syria and India.