Palm Monorail handover ceremony in Japan

Nakheel staff travel to Japan for training
Handover of monorail vehicles as they commence journey to Dubai

Dubai, 21 August 2008: Nakheel, a Dubai World company and one of the world's largest and most innovative real estate developers, marked the official handover of the Palm Monorail vehicles with a ceremony at Hitachi Kasado Works, Tokuyama City, Japan. Final inspections, conducted by leading railway system manufacturer Hitachi Ltd, are now completed, with the monorail trains commencing their journey to Dubai, where they will arrive in October to commence a period of live testing.

The Palm Monorail is the first monorail project to be constructed in the Middle East. Nakheel recently sent members of their Palm Monorail operation and maintenance team to Japan to receive management and technical training from the Osaka monorail. The 5.45km long transport system will run between the Gateway Station at the trunk of Palm Jumeirah and the Atlantis' Aquaventure Station on the crescent, calling at two intermediate stations on the way at Trump International Hotel & Tower, and the luxury retail centre Palm Mall.

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About Nakheel
Nakheel is one of the world's largest privately held real estate developers, and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism.

Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai, and now in key markets around the globe, across a range of sectors - residential, commercial, hotels, retail, and leisure. Nakheel's projects are conservatively estimated to be worth US$80 billion. Upon completion Nakheel's waterfront projects will have added more than 1,000km of shoreline to Dubai's coastline.

Nakheel's Dubai portfolio currently includes Palm Jumeirah, Palm Jebel Ali, Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, and Dragon Mart.

Nakheel is a key entity within Dubai World. Dubai World is one of the world's largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.

Further information can be found at www.nakheelmediacentre.com

For more information please contact:
Four Communications
Greg Moore/Rebecca Leach
Nakheel@fourcommunications.com
tel: +971 55 985 3375/77

Nakheel
Anna McGovern,
PR & Communications Executive
+971 50 457 5892
anna.mcgovern@nakheel.com