First half of phase one complete; second half slated for March 2004


Dubai, September 25, 2003: EMAAR Properties, the region’s premium real estate development company, has announced that the Al Mass, Fairooz and Al Murjan Towers at Dubai Marina are ready for occupancy. Homeowners of the apartments at the three towers will be able to move in from September 27.
 
The announcement signifies that 50% of the first building phase of EMAAR’s prestigious waterfront development is complete. Construction of the remaining three high rise towers is well underway and will be ready in March 2004. When complete, Phase One will consist of 1026 deluxe waterfront apartments, 64 luxury villas and up to 40 retail outlets built on a two-storey car park podium structure.
 
Mansour Al Othaimin, Corporate Director, Sales & Marketing, said: “Dubai Marina is the region’s first master-planned waterfront development and we are proud to be announcing the completion of its first towers. As homeowners start to move in they can look forward to an exclusive waterfront lifestyle featuring a host of amenities for their enjoyment and comfort.”   
   
Commenting on his purchase of a three bedroom apartment on the 24th floor of Al Murjan, Massoud Aboohadi, Managing Director, Royalty International said: “The apartment is stunning and we are proud to be new homeowners at Dubai Marina. We have amazing views over the marina water channel and ocean on one side, and the golf courses surrounded by the beautifully landscaped EMAAR developments on the other. This must be one of the best views in Dubai.”
 
Located at the 5th Interchange on Sheikh Zayed Road, Dubai’s new growth corridor, Dubai Marina will eventually house people in luxurious residential apartment towers and villas. The most advanced information technology systems will be available in every home as standard.
 
A Super Resort Spa & Fitness Club, outdoor terraces with swimming pools, gymnasiums with advanced fitness equipment, saunas and spa facilities, Hollywood style movie theatres, games room, business centres, lounge facilities and guest suites are some of the facilities offered in many of EMAAR’s Marina developments.
 
In keeping with its unique waterfront theme, the Marina, a stunning 3.5 km long waterway and an 11 km waterfront, will provide a boating lifestyle featuring water taxis, sunset cruises and dinner cruises.
 
-Ends-
 
Note to the editor
About EMAAR Properties PJSC
EMAAR Properties is a Public Joint Stock Company listed on the Dubai Financial Market. With an asset base of USD 6 billion including the land bank, the Company’s vision is to ‘Shape the Future of Dubai’ by focusing on innovation, meticulous planning and the continuous pursuit of excellence. The Company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base.
 
Currently, it has ten major real estate projects under various stages of development. These developments include Dubai Marina, Arabian Ranches (including Gazelle), Emirates Hills, The Meadows, The Springs, The Lakes (including Hattan Homes), The Greens and EMAAR Towers in downtown Dubai. The company also owns and manages the Gold and Diamond Park and will soon launch on its ambitious plans to build Burj Dubai - the tallest skyscraper in the world.
 
While EMAAR continues to actively pursue expansion in its core business of innovative, high quality real estate development it has diversified into related business lines to further build value for its 41,000 shareholders. In line with this corporate belief, EMAAR also owns and manages four subsidiaries – Dubai Bank, focused on retail and commercial banking, Amlak Finance, the UAE’s first and only mortgage finance company, EMRILL, a joint venture with the UK-based Carillion plc which provides innovative property and facilities management services, and it technology and communications company, Sahm Technologies.
 
For further information, please contact:
 
Christa Vander/Sameh Hamtini                                
ASDA’A Public Relations                                                                                                               
Burson-Marsteller exclusive Middle East affiliate 
Dubai,
UAE                                                                           
Tel: +971-4-3344550,
Fax: +971-4-3344556                                                        
E-Mail: info@asdaa.com                                    
 
Malika Bseiso
EMAAR Properties  
Tel: +971-4-399 3366
Fax:+971-4-399 2292    
E-Mail: enquiry@emaar.co.ae         
                                   

© Press Release 2003