26 April 2008
Dr. R.K. Pachauri, environment scientist and co-recipient of the 2007 Nobel Peace Prize, unveils the majestic Green towers

Dubai -  ETA Star Properties, a leading property developer in the UAE, today announced the launch of VERDE Residences and Offices in Dubai Maritime City. The two-tower VERDE Residences and Offices  is designed to achieve Gold ratings, as provided by the US Green Building Council's Leadership in Energy and Environment Design (LEED) programme,  will be built in Dubai Maritime City, near Port Rashid, Dubai.

Designed by celebrity architects, Mr. Adrian Smith and Mr. Gordon Gill, VERDE Residences and Offices are designed to maximize the use of the natural forces of wind, use natural light and geothermal mass, recyclable construction material along with optimum use of energy-efficient systems and technologies.

Dr. R. K. Pachauri, renowned environment scientist, co-recipient of the 2007 Nobel Peace Prize and Chairman, Intergovernmental Panel for Climate Change (IPCC), graced the official launch event of VERDE Residences and Offices. Mr. Adrian Smith and Mr. Gordon Gill also attended the event.

The project comprises of two towers - residential and commercial. The 33- level curtain-glazed VERDE Office tower is designed in the shape of trapezoidal. With a total built-up area of 820,000 square feet, the Office tower will comprise of podium offices and unique sky garden. The elegantly curved

VERDE Residence tower is built in the shape of a boat. The 48 storey glass tower, with a total built-up area of 1.35 million square feet, includes luxurious 2 & 3 bedroom units, 3 & 4 bedroom penthouses and 4 bedroom duplex townhouses on podium liner.

Commenting on the launch of VERDE Residences and Offices, Dr. R.K. Pachauri said: "It gives me immense pleasure to be a part of the launch of VERDE Residences and Offices. I am happy that ETA Star Properties have shown the industry the direction towards working on projects that maintain equilibrium in the environment we live and operate in. I must appreciate the efforts of Dubai Maritime City in promoting sustainable development. Let the launch of VERDE lead to setting of a benchmark for many similar projects in this region."

Mr. Abid Junaid, Executive Director, ETA Star, said: "The name VERDE has its roots in Spanish, which means green. It is rather apt that we have named our first Green project thus. Besides aiming for a Gold-certified Green building, VERDE will provide the best of amenities for both working and living. We are happy to state that this launch is in line with Dubai Maritime City's vision of sustainable development and to create a unique environment for the global maritime community."

Mr.  Adrain Smith, the Chief Architect of the towers said, "It's been a privilege to design these towers as one truly believes it is a first step towards leaving behind a greener, healthier world. The energy saved by the project is equal to the planting approximately 600,000 trees or removing 680 cars off the road."

As part of being a self sustained Green community, VERDE Offices and Residences will have a district cooling system using wind turbines, photovoltaic solar hot water, energy efficient lighting equipment and grey water system.

ETA Star is currently developing millions of square feet of premium property in countries across the Middle East and South-East Asia, including UAE, India, Sri Lanka, Qatar, Oman and Turkey.  ETA Star has built thousands of beautiful homes and living communities, as well as, world-class business and commercial developments across the region -- all excellent investment opportunities, which are fast reshaping the urban skyline. Keeping this track record in mind along with a distinctive ETA Ascon lineage, the regional banks have developed confidence in ETA Star Properties and a strong credibility has been established with the leading financial institutions of the region.

-Ends-

About ETA Star Properties
ETA Star Property Developers LLC is the property development arm of the ETA-Ascon Group. The company's prime objective is to harness the growing commercial opportunity in Dubai's freehold market.  Developments over 12million square feet of built-up area are already underway and many more are planned over the coming months. ETA Star's portfolio currently includes prestigious commercial and residential properties such as 23 Marina, Liberty House, Goldcrest Executive, Goldcrest Views - 2, The Belvedere and The Palladium. In addition, ETA Star is developing commercial and hospitality projects at the DMC complex, Palm Jumeirah Crescent, Port Saeed, Salahuddin Road and other prime locations in the UAE. ETA Star is also developing major residential and info-tech parks in India and Sri Lanka.

About Dubai Maritime City
Dubai Maritime City, the world's first purpose-built maritime centre, is a 227 hectare fully-equipped, iconic and multidimensional maritime centre providing a world-class infrastructure and environment for the global maritime industry and related sectors. Dubai Maritime City is driven by the needs of both local and international marine and

maritime communities for a dedicated hub. Dubai Maritime City capitalizes on the strengths of Dubai as a regional and international hub for trade and commerce, redefining the global maritime industry. It will provide a strategic location for the maritime industry sectors across the full spectrum of maritime business - maritime management, maritime services, maritime retail and recreation, maritime education and research, ship repair and maintenance, yacht repair and maintenance.To learn more about the projects underway, please visit www.etastar.com

For more information, please contact:
Ayesha Tully/Jumana Aman
Watermelon PR
Dubai, UAE
Phone: +971- 4 -2833 655
Email: ayesha@watermelonme.com  / jumana@watermelonme.com

© Press Release 2008