Jumeirah Golf Estates raises record DHS 1 Billion for fire and earth course land plots

- Greg Norman's signature courses attract premium prices as land sells out-

Dubai, UAE - 28 October 2006 - Land sales for the first phase of development at Jumeirah Golf Estates, Greg Norman's signature Fire and Earth golf course communities have now been completed with revenue in excess of Dhs 1 billion.

The company has sold ten land parcels, 'districts', for development of single-family residences, to local and international developers, for prices of between Dhs 189 and Dhs 240 per square foot.

Each developer will create a community of individually-designed homes within their district that blend the best of modern living with natural external environments. Beautifully landscaped, the estates will feature abundant parkland, nature strips, lakes and ponds and more than 75 per cent of the homes facing the golf courses and the remainder having lake or park views.

Throughout the districts, a sense of space has been given paramount importance and around 1,000 homes will line two of the world's most scenic Eco-Signature golf courses within the 375 hectares of this phase.

David Spencer, chief executive officer of Jumeirah Golf Estates, said:

"The two words that define these communities are space and individuality. Every home will sit in a beautiful, natural space of its own - and each will stand out on its own.

"It was critical to find the right partners. We carefully selected developers to ensure each shared, and would help meet, our vision of creating one of the world's most prestigious golfing communities. In the end, we were able to secure the right partners at the right price - a double whammy!

"The courses that are being developed by Greg Norman are stunning. Our development partners will ensure the homes that surround them complement this beautiful development."

The first homes are to go on sale on 8th November. Lime Tree Valley, developed by CHI Development Group, will release their first phase 42 forty-two luxury homes which line Greg Norman's Earth course. Jumeirah Golf Estates homeowners will be able to start moving in during 2008.

The first phase of Jumeirah Golf Estates includes 14 districts; Jumeirah Golf Estates has retained the remaining four districts for development itself, the resultant homes will be available for sale late this year.

Later phases of development will include the Water course, designed by Vijay Singh, and Wind, which will also be designed by a world-renowned designer - to be announced soon.

The courses will be focused around the Norman Clubhouse, which will combine the best in golfing facilities, including an ultra-modern practice facility and golfing academy, with pools, tennis courts, restaurants - and a wellness centre offering a variety of massage and spa treatments.

-Ends-

Note to editors:
About Nakheel
Nakheel is the uniquely focused property development company behind a variety of new landmark developments in Dubai. Nakheel aims to redefine the concept of property development whether residential, tourist, commercial or retail. It has therefore placed great importance on examining the requirements of the different sectors of the community and developing its visionary projects around these findings.

Nakheel's portfolio currently includes The Palm, The World, Jumeirah Islands, The Gardens, Ibn Battuta Mall, Jumeirah Lake Towers, Jumeirah Golf Estates, The Lost City, International City, Discovery Gardens, Jumeirah Village and Dubai Waterfront. Further information can be found at www.nakheel.ae

About Jumeirah Golf Estates
Nakheel has joined forces with golfing superstars Greg Norman and Vijay Singh to create Dubai's premier residential golfing community - Jumeirah Golf Estates.

Launched in September 2004, Nakheel aims to raise awareness of golf in Dubai on a global platform by developing unique and unforgettable golf course developments.

Jumeirah Golf Estates aims to be one of the finest residential golfing destinations in the world, boasting four superstar-designed golf courses surrounded by the finest residential opportunities in Dubai. The environmentally themed courses will mirror the elements of nature - Earth, Fire, Water, and Wind - integrating seamlessly with distinct gated communities, featuring a variety of housing opportunities, world-class amenities and premier services.

Greg Norman, a World Golf Hall of Famer and an Australian legend, is personally involved in the creation of the first Eco-Signature courses designed by Greg Norman Golf Course Design. Both courses are being created especially for Nakheel and will focus on eco-friendly principles and practices, featuring flora and fauna that are indigenous to the region.

Four Communications:
+971 4 362 5129 / +44 870 44 44 468

Ray Eglington
+973 360 44 111 / +44 7973 893208

David Baker
+971 50 650 3459

Jumeirah Golf Estates:
Rebecca Pearce
+971 50 458 5345

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