Emaar expands property services portfolio under new Hamptons International brand

Hamptons International will now be one-stop agency for all of Emaar's property services

Emaar Property Services staff and product portfolio is part of new Hamptons

Hamptons International will also sell and lease non-Emaar and international property

Dubai, UAE; January 6, 2007: Emaar Properties has brought together its entire property management services portfolio under the Hamptons International brand, which will now serve as a one-stop shop for product sales, letting and advisory services of Emaar and non-Emaar properties in an international arena.

The Hamptons name replaces Emaar Property Services (EPS) and EPS staff and product portfolio becomes part of Hamptons.

In August, 2006, Emaar acquired Hamptons International, the UK-based premier realtor with over 130 years of real estate expertise, to expand the company's product sale competencies across the Western hemisphere. Subsequently, EPS joined hands with Hamptons to share strengths in operations, service support and product sales.

"Hamptons is an internationally recognized real estate consultant, and the integration of EPS under the Hamptons International brand will help Emaar to leverage on the opportunities offered across a wider market, including Europe, faster and more effectively," said Mr Mohamed Ali Alabbar, Chairman, Emaar Properties.

He added: "With Hamptons, Emaar is also taking a step forward in our horizontal integration in the region by offering property management services on non-Emaar properties. This will complement Dubai's existing property management services and further strengthen the real estate sector by assuring quality-backed services."

Emaar's acquisition covered Hamptons' UK offices and its joint venture with CB Richard Ellis Hamptons International in the UK and Hamptons International in Oman. Hamptons has more than 1,000 staff and sells, lets and manages over 15,000 properties every year in the UK and overseas. With Emaar's current residential portfolio of over 14, 500 homes, the Hamptons property base has doubled.

Hamptons International will cover the entire Emaar roster of projects in the UAE, its already-existing clients in the UK and Oman as well as several other projects in the UAE. "The large portfolio of projects will make Hamptons the true leader in real estate services in the region," said Mr Christopher Steel of Hamptons International.

"Hamptons International will serve as a two-way gateway: Potential investors in the Western hemisphere can obtain value-added information about UAE properties through Hamptons offices there, while residents here can gain first-hand insight into a number of international properties from Hamptons in Dubai," added Mr Steel.

Hamptons, with a strong sales network globally, is headquartered in Grosvenor Square, London. It plans to expand the office network from 60 to 120 by 2009.

"Emaar is bringing in the vast experience of Hamptons to Dubai, and thus offering international standards in buying, selling, leasing and mortgage brokerage to our clients here," said Mr Alabbar. "Hamptons will deliver property valuation, management and development services that are in line with international best practices."

Emaar had earlier acquired the second largest private home builder in the US, John Laing Homes. The acquisition of John Laing Homes and Hamptons are strategic steps by Emaar as it expands globally in line with its Vision 2010 to become one of the most valuable companies in the world.

Emaar has already expanded into Saudi Arabia, Egypt, Morocco, Tunisia, Jordan, Turkey, Syria, India, Libya and Pakistan.  Emaar also joined hands with The Turner Corporation, a leading building services provider, to form Turner International Middle East Ltd, to tap regional growth opportunities.

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About Emaar Properties PJSC:
Emaar Properties, the Dubai-based Public Joint Stock Company and one of the world's largest real estate companies, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. The company recently announced that its net profits for the three quarters ended September 30, 2006 reached AED 4.658 billion (US$1.268 billion) - a significant gain of 26 per cent over the same period in 2005 - reflecting the remarkable growth the company has gained since its inception in 1997.

With more than 14,500 homes handed over to customers, Emaar has several major real estate projects under various stages of development in Dubai. An ISO9001:2000 quality certified company, Emaar is marching ahead with the construction of its AED 73 billion (US$20 billion) Downtown Burj Dubai mixed-use development that encompasses Burj Dubai, the world's tallest tower when completed in 2008.

The company has joint ventures and projects across the region covering Saudi Arabia, India, Egypt, Turkey, Morocco, Bahrain, Syria, Jordan, Pakistan, Lebanon and Tunisia. In Saudi Arabia, Emaar is developing the US$26.6 billion (SR 100 billion) King Abdullah Economic City, the single largest private sector project in the Kingdom.

Emaar also entered the US market by acquiring John Laing Homes, the second largest privately held homebuilder in the US for AED 3.856 billion (US$1.050 billion). Emaar joined hands with The Turner Corporation, a leading international building services provider, to form a new entity, Turner International Middle East Ltd (Turner International ME) to jointly tap regional growth opportunities.

In a move that scaled up its core competency in product sales across the international arena, particularly the Western hemisphere, Emaar acquired Hamptons International, the UK-based subsidiary of premier property developer Wheelock Properties (Singapore) Ltd in a deal worth AED 562.45 million (US$153.05 million).

Last year the property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 150 malls in the larger emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar's flagship Burj Dubai tower.

Emaar's education initiative will involve the establishment of international schools in the MENA region and India, which will offer premium quality education and an integrated curriculum for students ranging from kindergarten to tertiary levels. Emaar's healthcare diversification will see the company invest around AED 18.35 billion (US$5 billion) over the next decade in the MENA and South Asia markets with the construction of hospitals, clinics and medical centres and the investment in the provision of world-class healthcare services.

Emaar has diversified into related business lines to further build value for its shareholders, which includes the Government of Dubai. Emaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com. 

For further information, please contact:    
Kelly Home / Nedal Alasaad                              
ASDA'A Public Relations                                               
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa                                    
Tel: (+971 4) 335 5969;
Fax: (+971 4) 335 6080
E-mail: k.home@asdaa.com, n.alasaad@asdaa.com       

© Press Release 2007