Sharjah - April 30, 2007: Tameer Holding, the region's leading property development company, has chosen Al Arrab Contracting for the construction work of Al Jawzaa Project at a value of AED 58 million. This comes after Al Arrab beat off competitors for the contract to construct the tower located in the heart of Dubai International City, a development soon to be known for its unique lifestyle and renowned international buildings. Al Arrab will take care of the construction work of Al Jawzaa Project that covers an area of 240119 square feet, and is composed of 2 buildings with a total of 180 residential units, each building is a  Ground Floor + 5 floors.

This deal comes in the light of Tameer's expansion strategy to execute its latest property projects in conjunction with some of the leading construction firms, including UNEC and Al Arrab Contracting for the construction of the Palace Towers and Regal Tower respectively (this being the second project between Al Arrab Contracting and Tameer).

Omar Ayesh, President of Tameer Holding said: "The property developer should be committed to its clients, customers, and investors in the development of its projects. This commitment should be evident throughout the launch and the sale of the project right onto the construction work. This is part of our strategy in Tameer, to choose contracting companies that are known for their good quality and performance in the construction market , thus our choice for Al Jawzaa Project is just one example of this and is a project that we consider as the latest in a long line of achievements".

He added: "Al Jawzaa Project is a special addition to the residential property sector in Dubai, delivering high quality standards and competitive prices to a huge property market that is incessantly competitive".

He continued: "The Dubai market is no longer satisfied with normal projects. Investors are looking for a special property product that come at international standards of development - forcing property developers to create more unique developments in a bid to out shine their competition. Tameer's mission has been and continues to be, to strongly establish its position and enhance its qualifications in order to create and deliver the best property projects".

Likewise Mr Nusair Awar Tani, General Manager of Al Arrab Contracting said: "Signing the second deal with Tameer puts a great responsibility on to us. That responsibility is to provide all the best to one of the leading realty developers in the region and to finish the work to the highest of standards. This deal shows Tameer's confidence in our performance, which further encourages us to rise to that challenge and not let them down".

Al Jawzaa Project, which is located in Dubai International City, is composed of 180 freehold residential units, of studio and one and two bedrooms in addition to 6 retail shops. This includes swimming pools, a gym, health center, banquet area, and other entertainment and rest facilities.

-Ends-

About the Company
The journey of Tameer began in 1991. Tameer, a UAE based company, has grown and expanded over the years with the aim of becoming the leading property developer in the region. In 2005, Tameer Holding formed a strategic partnership with Al-Rajhi Investment Group and today the firm's investment portfolio in the realty market totals over AED 150 billion.

Currently, Tameer Holding is developing key projects in UAE, such as AlSalam City in Umm Al Quwain city, and Al Ameera Village in Ajman, with the world's tallest residential tower "Princess Tower", located in Dubai Marina. This was followed by other key projects in Dubai such as the Al Dana 1 & Al Dana 2 projects, Al Shahd Tower on the Emirates Hills, Al Jawzaa in International City, The Regal Tower in Business Bay, The Palace Towers in Dubai Silicon Oasis, Elite Residence in Dubai Marina and Imperial Residence in Jumeirah Village.

In addition to these projects in UAE, Tameer has numerous international developments including the ground breaking Tameer project in Yemen with a mixture of residential & tourism developments, Madeenat Al Majd in Jordan and Al Hanaa City, Tameer's largest project in Libya.

Mariam Keblawi
GM - Public Relations
SAHARA
00971 6 573 7018
www.saharagcc.com

© Press Release 2007