Dubai, Nov. 18th, 2006 (WAM)---Tamweel and Tejari two of the leadingcorporate innovators in the region, today launched Simsari.com,a real estate portal that will revolutionize the way propertyis bought and sold in the UAE. Simsari.com will provide an onlinemarketplace for property developers, brokers and private individualsto buy and sell residential and commercial property.

The portal is a unique venture that draws on Tejari's expertiseand experience in ecommerce and Tamweel's strength and reputationfor innovation in property finance, to create an easy to use,trustworthy and profitable online marketplace for real estate.

The launch of Simsari.com marks the first major collaborationbetween major property developers in the UAE, with founding partnersincluding Nakheel, Tamweel, Dubai Properties, Sorouh and Tejari.

The portal has already attracted a number of the most respectednames in real estate in the region as members, including Al Barari,Habiba Real Estate, Landmark Properties, New World Real Estate,Vakson Real Estate, Deyaar, ETA Star and Union Properties. Simsari.comis also in discussion with additional developers.

"The property boom in the UAE of the past few years has createdmassive interest in real estate in the region, but for both buyersand sellers, the processes involved can often be costly, complicated,and time consuming. Simsari.com is intended to remove those obstacles,and provide an innovative platform for real estate transactionsin the UAE," said Omar Hijazi, CEO of Tejari.

"Simsari.com will give buyers the peace of mind of working througha trusted portal supported by known developers and partners,as well as giving them an easy to use and informative way tofind their ideal property, arrange financing and handle the transaction.

For sellers, Simsari.com offers a cost effective and straightforwardway to promote property and will help them to extend their reachto new markets," he added.

The site will cater to the needs of various types of buyers andsellers, including private individuals based in the UAE and abroadlooking to buy property as a home or for investment, commercialproperty buyers and UAE based developers and brokers who wantto develop alternative channels to market.

For buyers the site will include clear details on each property,and all of the inventory on the site will be verified and authenticatedso that buyers can be assured of what they are getting. Buyerswill also be able to obtain instant finance approvals throughTamweel and other financiers.

For sellers, Simsari.com will provide access to the online realestate market in partnership with other trusted and establishedplayers, and will serve as a valuable new sales channel. WithTejari's experience of online commerce in the Middle East, andthe world class technology that underpins the portal, Simsariwill also make management of online property listings much easier,as well as offering new levels of sophistication in propertymarketing.

Simsari.com's unique launch promotion will exclusively featurethe luxury residential property, Marina Mansions, developed byAl Sondos Holdings, along with instant online financing decisionsby Tamweel. The Marina Mansions promotion, which will run fromNovember 18 to 24, will allow buyers to find, finance and buyproperty through a simple and secure online process, from thecomfort of their own homes. Marina Mansions is a futuristic 30story tower with 120 luxury apartments set in the magnificentsurroundings of Dubai Marina.

Simsari.com will regularly featureexclusive property listings from its members. Nakheel will alsobe offering select properties from its Jumeirah Park development- a family friendly community of more than 2,000 villas in theheart of Jumeirah, complete with excellent facilities and amenities.

"Nakheel fully supports the launch of simsari.com, a unique salesplatform, that will enable Nakheel to tap into new internationalmarkets, as well as benefiting from new sales avenues, such asonline property auctions. Nakheel will be offering select JumeirahPark properties on simsari.com. The initial offering of propertiesat Jumeirah Park saw approximately 1,000 villas sold in undertwenty four hours, and with demand so high in Dubai for familyfriendly villas, we anticipate that the Jumeirah Park propertieson offer on the website will prove popular with buyers," saidWaleed Al Jaziri, Nakheel General Manager Sales.

"We believe that the launch of Simsari.com marks a new directionfor the real estate market in the UAE, bringing new levels ofinnovation, cost effectiveness and investor confidence to thesector. We are confident that with the support of our esteemedpartners, Simsari.com will rapidly become the leading providerof online property sales in the Middle East," Hijazi concluded