Emaar Properties signs US$500 million (approx. AED 1.835 billion) financing facility to develop 'Emaar Square' in Turkey

Highlights robust market confidence in Emaar's financial strength and delivery track-record
'Emaar Square' is second mixed-use development by Emaar in Turkey

Dubai, UAE; December 19, 2012

Emaar Properties PJSC, the global property developer, has signed a new financing facility amounting to US$500 million (approx AED 1.835 billion) with a consortium of banks including Standard Chartered Bank, Emirates NBD Capital Limited and HSBC Bank PLC.

Underlining the financial strength and commitment of the company to undertake large scale projects, the new financing facility will be used for the development of Emaar Square, the second mixed-use development by Emaar in Turkey. The facility will be repaid in seven years.

Mohamed Alabbar, Chairman of Emaar Properties PJSC, said: "Having recorded strong financial performance this year, Emaar is focused on the on-schedule completion of our master-planned projects in key emerging markets and in Dubai. The new financing facility highlights Emaar's ability to raise long-term finance and reiterates the strong market confidence in our development competencies and our ability to successfully deliver projects."

He added: "With the current positive growth outlook of Emaar in all its key markets, we are exploring new opportunities to strengthen our project portfolio and create long-term value for our stakeholders. Turkey is one of our key markets, where we have successfully handed over homes in the first phase of our first integrated community, Tuscan Valley, and we are now developing Emaar Square in Istanbul that will further contribute to the country's socio-economic growth."

Emaar Square spans 73,000 square metres, and offers luxury living in a stunning new urban neighbourhood. The development comprises over 1,000 luxury homes, a 180 room five star hotel, a wide range of leisure facilities, offices, and a world class shopping mall, the largest in Turkey. The Emaar Square Shopping Mall, a trophy asset within the development, will offer city dwellers a world class shopping and leisure destination.

Located in Büyükçekmece, Tuscan Valley introduced the concept of master planned communities to Istanbul, featuring villas, and the Tuscan Shopping Arcade, with 25 stores and approximately 3,700 square metres of rentable commercial space. Emaar won the 'Best Developer' of residential and mixed-use projects in Turkey at the 2010 Euromoney Real Estate Awards.

-Ends-

About Emaar Properties PJSC:
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key emerging markets in the Middle East, North Africa and Asia. In addition to building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure and financial services sectors. Burj Khalifa, the world's tallest building, and The Dubai Mall, the world's largest shopping and entertainment destination, are some of Emaar's trophy developments.

Emaar is redefining the cultural scene of the city with Dubai Modern Art Museum & Opera House District in Downtown Dubai, to feature the city's first opera house and several design galleries. The company is also partnering in implementing Mohammed Bin Rashid City, a new city within Dubai, announced recently by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. Among the various components of the new development is the Cultural Crossing, connecting Mohamed Bin Rashid City with Downtown Dubai, which is envisaged to be the largest area for arts in the region.

Emaar has launched a new wholly-owned subsidiary, Dawahi Development, a next-generation developer of 'value housing' projects within full-service community developments. Dawahi Development will develop 'value homes' at attractive price points in key emerging markets across the Middle East & North Africa region, while also creating robust employment and business opportunities for the local population.

In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region's largest private sector-led project in Saudi Arabia, featuring a Sea Port, Central Business District, Industrial Zone, Educational Zone, Residential Communities and Resort District. www.emaar.com.

For more information, please contact:
Kelly Home / Nivine William
ASDA'A Burson-Marsteller
(+9714) 4507 600
kelly.home@bm.com, nivine.william@bm.com