United Arab Emirates, Dubai, October 6th, 2008: IRIS, one of the leading property developers in the region, is set to unveil IRIS ORA- a distinctive new project at the creek-front in Business Bay worth an approximately Dhs 500m.

The project will be unveiled at Cityscape Dubai, the 7th edition of the world's largest business-to-business real estate investment and development exhibition running from the 6th to the 9th of October at the Dubai International Exhibition Centre at stand ZF60.

Covering nearly 1,75,000 square feet, IRIS ORA is the exclusive 19 storey residential tower at the creek-front in Business Bay, comprises of a range of studio, 1 & 2 bedroom apartments, retail area along the promenade on the ground floor, 1 level basement and 2 podium levels for ample car parking.

Each of the luxury apartments will enjoy 24 hours security and maintenance, broadband connectivity, access to state of the art Gym and other luxurious facilities. The interiors will be finished to the highest possible standards creating a feeling of luxury and comfort.

Mr. Ashwin Sheth, CEO of IRIS and Managing Director of Sheth Estate, commented, "CityScape is an established event on the calendar of every property developer in the region and we are delighted to be here again at Cityscape to showcase our new projects. Our impressive project portfolio includes some of the most innovative and luxurious developments in the region. This show is a great platform and a springboard for people in UAE to make their way into some of our state-of-the-art properties.'

Expressing the company's confidence in the UAE market despite the global slowdown Mr. Sheth stated, 'It is worth pointing out that the UAE real estate market is standing firm, when the markets elsewhere are witnessing the impact of global slowdown. This market is rapidly developing, when compared to markets in places such as the US and the UK, with the UAE Central Bank revealing that mortgage lending in the UAE jumped 55 percent in the first quarter of this year as compared to same period in 2007."

Furthermore, IRIS is currently working on other unique projects such as IRIS Bay, IRIS Asmar, IRIs Amber, IRIS Crystal and IRIS Mist projects.

For more information about IRIS ORA, visit us on www.iris.ae

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About IRIS
IRIS is a brand of futuristic real estate projects designed specifically for the UAE market by Sheth, India's leading quality property developer. Launched in Dubai in 2005 the brand embodies Sheth's tradition of uncompromising dedication to quality and innovation.

IRIS is established with the time tested values of its parent corporation, Sheth, as a leading construction house actively involved in building some of India's largest communities, leisure and business complexes and high-rise towers.

Sheth's impressive portfolio boasts over 13,000 homes built, 50 projects completed and ongoing and a total of 15 million square feet developed and under development in a history spanning over 22 years. This unmatched, high-end track record has consistently built a strong and lasting bond of trust between the corporation and its clients.

IRIS made its debut with IRIS Blue, a luxury residential tower at Dubai Marina which has just recently been completed. IRIS' second project is the highly anticipated IRIS Bay, a half-moon shaped commercial building strategically located at Business Bay, facing Sheikh Zayed Road. IRIS has also launched residential developments in Culture village including IRIS Amber and IRIS Asmar. The fifth project on IRIS' calendar is IRIS Crystal, another iconic tower in the prestigious Business Bay.

For further information about IRIS, please contact:
Naim Al Sakka,
Marketing Manager
Email: naim@iris.ae

© Press Release 2008