Dubai, May 2nd, 2007:  DAMAC Properties, the largest private sector master developer and luxury lifestyle provider, today shared more details on its Egypt-based Gamsha Bay project - a 320-million sq. ft. leisure destination billed as the largest development in the region.

ATM 2007, the industry's leading travel and tourism exhibition, will be held between May 1st and 4th at Dubai International Convention and Exhibition Centre. Visitors to the Arabian Travel Market can view information about DAMAC's projects by visiting the company's stand number TD 120 in Zabeel Hall.

Unveiling details of DAMAC's plans for ATM, Mr Hussain Sajwani, Chairman, DAMAC Holding, said: "We are committed to making a significant presence at ATM 2007. Visitors to our stall will be amazed with the ground-breaking projects we are launching -- ranging from exciting luxury lifestyles, to investment prospects, retail attractions and much more."

"Gamsha Bay project in Egypt will set a new benchmark in design, innovation and architecture in the real estate marketplace in the region. The world-class development will provide an impetus to the economy of the region and create an unparalleled attraction for tourists. ATM is a significant platform for DAMAC to intrigue the real estate and tourism sector with our outstanding visual and conceptual developments and we are looking forward to participating in this mega industry event," added Mr. Sajwani.

Peter Riddoch, CEO at DAMAC Properties, said "Gamsha Bay, offering everything that one seeks - from state-of-the-art facilities to eco-friendly environment. The Gamsha Bay project will offer residents an open scenic environment with 39kms coastline and 25kms of beaches. Customers will have over 55,000 units that include - villas, townhouses, retail establishments, shopping centres, marinas, apartments and several other amenities to choose from. The total investment of the project is expected to reach over US$16 billion over the next ten years,"

At the ATM, DAMAC showcased the world-class facilities to be extended at the Gamsha Bay project in Egypt. The 320-million sq. ft. leisure development located on the red sea 60 km north of Hurghada is the largest development in the region, offering residents a wide array of housing options with villas, townhouses, apartments and Marinas, 18-hole golf course, 5 Star hotels, shopping boulevards, spa resorts, beach resorts, scuba diving, entertainment venues and recreational amenities including an innovative x-treme sports adventure theme park among other world class facilities.

The Arabian Travel Market is the region's biggest and fastest growing travel and tourism exhibition attracting tourism companies, resort owners and operators, airlines and tourism service providers from all over the world, and is now in its 15th year.

-Ends-

ABOUT DAMAC PROPERTIES:
DAMAC Properties is part of DAMAC Holding. The company was established in 1996 and has grown into one of the most successful residential, leisure and commercial developers in Dubai and the Middle East, and is expanding rapidly into North Africa, Jordan, Lebanon, Qatar and the Far East. The company's portfolio of 52 towers is worth over US$ 4 billion. By partnering with world renowned architects and designers, DAMAC Properties aims to develop schemes that include residential, commercial and leisure facilities that will create an integrated community. The company's schemes are located in the most desirable and exclusive locations and the homes are built to a high quality specification that has become synonymous with the group. Driven by a passion for excellence, DAMAC Properties manage all their projects from start to finish. The company's diverse range of expertise allows them to control their land purchase activity, appointment of architects and designers, construction and sales and after sales service. In addition to support services provided by their Dubai headquarters, the company's comprehensive Customer Care Program provides solutions through its vast regional network with offices in the UK (London, Manchester and Glasgow), UAE, Iran, Russia, Jordan, Lebanon and Qatar. DAMAC Holding has grown over the years from a specialist catering company established in 1982, into a multi-billion dollar corporation to become one of the largest organizations in the Middle East. For further information, please refer to www.damacgroup.com and www.damacproperties.com.

Media contact:
Prem A. Ramachandran,
DAMAC Properties,
Tel: 00 9714 3322005
Fax: 00 9714 3311028
Email:prem@damacgroup.com

Agency Contact:
Ashutosh Gupta, PanGulf PR,
M: +97150 2834339
ashutosh@batespangulf.com

© Press Release 2007