Umm Al Qaiwain, Nov. 8th, 2006 (WAM) - Sheikh Abdullah bin RashedAl Mualla, Umm Al Quwain Deputy Ruler, and Sheikh Tariq bin FaisalAl Qassimi, Chairman of the Emirates Investments Group LLC (EIG)have recently signed an agreement that will see the establishmentof White Bay, a master planned community and tourism resort withinthe Emirate of Umm Al Quwain.

With further details to be announced in the coming weeks, theproject is worth more than Dh 8 billion. It will be marketedand managed by Emirates Sunland Group (ESG).

Emirates Sunland Group is a 50:50 partnership between SunlandGroup, an Australia based property development company, and UAEbased Emirates International Holdings Ltd. Emirates SunlandGroup have recently opened offices in Dubai in preparation forthe launch of several new projects in the UAE, including theworld's second Palazzo Versace Hotel, D1 Tower, an 80 storeyresidential/resort tower on Dubai Creek.

Speaking at the signing to mark the occasion, Raza Jafar,Managing Director of EIG commented, "We are proud to announceour partnership with the Emirate of Umm Al Quwain in the developmentof such a prestigious and important project. This project willcompliment the various other mega projects already under developmentin the Emirate and we envisage that such a scheme will contributesignificantly to the economic growth and prosperity of both UmmAl Quwain and the UAE as a whole." Umm Al Quwain is currently undergoing a complete renovation andimprovement of its infrastructure with billions of dirhams ininvestment being dedicated to the establishment of colossal residentialand tourism mega-projects.

Soheil Abedian, Managing Director of Emirates Sunland Groupsays of the White Bay project, "White Bay will be a destinationfor those who would like to experience the facilities and servicesof a world-class resort, all in the beautiful natural environmentof Umm Al Quwain. All buildings will be built at a human scalewith no building exceeding 15 storeys and all will have fullaccess to the water and green-belts areas."