79 new "Sinesla Island" villas go on sale on May 17th

Muscat, May 14, 2007: Following the phenomenal success of the first and second phase releases, The Wave Muscat, Oman's leading tourism and beachfront residential development, is set to launch their latest collection of homes located at the first of three islands at the development. The exclusive, first-of-its-kind properties at Sinesla Island, the first Residential Island not only on the development but also in the Sultanate, will be released for sale on May 17th.

The new residential phase will comprise a wide selection of elegant waterfront and garden villas that will form part of a private gated community within the project. All the 49 thoughtfully planned waterfront villas on the island come with their very own private beaches, offering buyers a definitive luxury experience. The 30 garden villas on the island will offer an equally exclusive experience with their extensive landscaping, airy courtyards and contemporary architecture with a distinct Omani flavour.

Speaking about the new sales launch, John Langford, VP of Sales and Marketing at the Wave, Muscat, said: "We are very pleased to announce the launch of residential properties on Sinesla Island - not only a first for us at The Wave but also a first for Oman. Spread across plots between 420 and 1085 square metres, the exquisite villas have been carefully designed to maximise space and offer the best when it comes to tranquillity and exclusivity. In light of our previous releases and the overwhelming response from buyers we are left in no doubt that these properties will be snapped up quickly by potential buyers and investors"

To be offered on a first-come-first-serve basis, the Island release is an exceptional offering for potential investors with all properties finished to the highest standards and boasting tasteful interiors. The Sinesla Island villas will have a distinct floor plan, close proximity to the signature 18- hole green links golf course designed by legendary golfer Greg Norman, as well as the 300 berth marina, retail facilities besides the parks and natural beaches stretched for over 6km.

An integrated waterfront development, The Wave, Muscat is being developed through a strategic partnership of the Omani Government, UAE based Majid Al Futtaim Group, and the Pension Investment Fund, and is playing a pivotal part in the development of real estate and community lifestyles in the Sultanate.

For further sales information please contact the sales centre on + 968 24151122.

-Ends-

THE WAVE
Overlooking the Gulf of Oman, The Wave, Muscat is a fully master planned community occupying a total area of 2,500,000 square metres along 6km of natural beach. The Wave, once complete, will be home to 4,000 dwelling owners from all nationalities, a signature 18 hole green Golf Course designed by the legendary Greg Norman, 300 berth Marina, 4 luxury hotels, villas, retail and restaurant outlets. Located with 10 minute drive from the centre of town, the community will be within driving distance from the numerous authentic attractions of Muscat while enjoying world class amenities and facilities.

The Wave, Muscat is being developed through a joint venture comprising Oman's Waterfront Investments (representing the Government of the Sultanate of Oman), National Investment Funds Company (representing the Omani Pension Funds), and the UAE-based Majid Al Futtaim Investments. For more details on The Wave, Muscat, please log on to www.thewavemuscat.com.

For further information, please contact
Amer Al Fadhil,
VP External Affairs,
The Wave, Muscat,
Tel + 968 24600034;
Fax: +968 24600663;
E-mail: amer@thewavemuscat.com

Ghada Kammoun,
Vice-President,
Bates PanGulf PR,
PO Box 3294,
Dubai,
UAE.
Tel: +9714 295 3456;
Fax: +9714 295 1027;
E-mail: gkammoun@batespangulf.com

© Press Release 2007