IIFA Board Ambassador thanks Tiara for support of June event

Dubai, May 1, 2006 - Indian superstar Amitabh Bachchan visited the construction site of the Tiara Residence, the AED 2.1 billion luxury island gated community development from Zabeel Investments, on the Palm Jumeirah this weekend.

Mohammed Ali Al Hashimi, Executive Chairman of Zabeel Investments, said the tour of company's residential project was arranged after Mr. Bachchan expressed his interest in the emirate's offshore developments.

"Although Mr. Bachchan has visited Dubai several times, he was very intrigued to get a  first-hand experience of Dubai's real estate projects and what better way to do so than visit the site of Zabeel Investments' exclusive residential project - Tiara Residence.  Mr. Bachchan was able to have a good look around, and  he thoroughly enjoyed what he saw," said Mohammed Ali Al Hashimi, Executive Chairman of Zabeel Investments. 

Indian cinema legend Amitabh Bachchan was in Dubai this weekend to formally announce the details of the 7th Annual International Indian Film Academy (IIFA) Weekend and Awards scheduled to be held in Dubai from June 14 to 17, 2006. The IIFA Weekend is sponsored by Tiara Residence.

He thanked Zabeel Investments for its support of IIFA and  its interest in bringing the global showcase of Indian cinema to Dubai.

Construction is already underway on the Tiara Residence, which will consist of five luxury apartment towers and the six-star Palm Anantara Hotel Resort and Spa. The exclusive community, located on one of the most secluded atolls of the Palm Jumeirah and directly off its main trunk, will also have its own stretch of pristine beach as well as landscaped tropical gardens and pools.

Tiara Residence is expected to be completed in December 2007. The company recently offered a 30 percent rental return guarantee scheme over a period of three years to its customers, the first guarantee of its kind in the region.

Under the scheme clients buying an apartment at Tiara Residence have the opportunity to lease out their apartments and generate a yearly return that is equivalent to 10% of the original price of the property for a period of three years.

Tiara Residence will consist of seven 15-level buildings plus a penthouse floor. The buildings include luxurious and spacious one, two and three bedroom apartments ranging from 1,200 to 2,250 square feet. There will be 238 one bedroom, 210 two bedroom, 182 three bedroom apartments and 14 penthouses. The development will have basement level parking for 1300 cars.

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Note to Editors:
Zabeel Investments is a multi-diversified investment company focused in the areas of commercial real estate development and management, private equity and asset management across a wide range of economic sectors in the UAE, GCC and overseas. 

For further information, please contact:
Rami Halawani,
Lisa George
Asda'a Public Relations, Dubai
Tel: +971 4 3344550 (ext: 404/403),
Email: info@asdaa.com

© Press Release 2006