Photo Release Emaar, The Economic City records strong response to sale of Esmeralda Suburb townhouses in KAEC Over 65% of units launched sold in firs.

The Economic City, the Tadawul listed company developing King Abdullah Economic City (KAEC), has recorded strong response to the launch of Esmeralda Suburb, the first townhouse and golf community in KAEC. Over 65 per cent of the units offered for sale were sold on the first day itself. Emaar.E.C had hosted a festive event at Hilton Jeddah to launch the Esmeralda Suburb townhouses. The event was specially designed to give participants a true feel of the Esmeralda Suburb community and amenities. The sale is ongoing at Emaar.E.C's Riyadh Sales Centre until the evening of Friday 23, May 08. Spread over 160,000 sq m, Esmeralda Suburb is a fully integrated neighbourhood with schools, retail centres, health & fitness facilities and a range of leisure amenities. All homes feature elegant gardens, walkways and car parking space. The villas are placed in clusters of 2, 4, 6 and 8, offering privacy for residents while assuring a sense of community living. Esmeralda Suburb townhouses come in various impressive architectural styles, and incorporate modern finishes and fittings. The homes will be ready for handover in 2010. Potential customers can call toll-free number, 8001180010 or log on to HYPERLINK "http://www.esmeraldalife.com" www.esmeraldalife.com for more details on the project. Located on the Red Sea coast on 168 million sq m, KAEC has six components: the Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort District and Residential Communities. Esmeralda Suburb is part of the Residential Communities. Contracts for Esmeralda Suburb are currently being awarded and work will start soon. -ends- Note to Editors About Emaar, The Economic City: Emaar, The Economic City (Emaar.E.C), established in September 2006, is a Saudi joint stock company managed by Emaar Properties PJSC, one of the world's largest property developers, and a number of high profile investors from Saudi Arabia. Emaar.E.C has a share capital of SR8.5 billion consisting of 850 million shares of nominal value SR10 each. Thirty per cent of the equity, worth SR2.55 billion, was offered for public subscription. Emaar.E.C leads the master-planning and development of the 168 million sq m King Abdullah Economic City (KAEC), a project being built on a pristine location off the Red Sea in the north of Jeddah. SAGIA (Saudi Arabian General Investment Authority), the body responsible for inward investments into the Kingdom, is the prime facilitator for KAEC. KAEC, a New Age City being built today for tomorrow's generation of Saudi citizens, has six components - sea port, industrial district, educational zone, central business district with commercial, mixed-use, retail outlets and financial island, resorts and residential area. The mega-project works closely with the Kingdom's on-going drive to expand the economy, create employment opportunities for its youthful population and function as a catalyst to attract foreign investment, global trade, commerce and industry. Based on initial forecasts, the project and its several components will create up to one million employment opportunities in the various industries and service-oriented companies that will open in KAEC. It will also be home to 2 million residents.

[c] 2008 Al Bawaba (www.albawaba.com)