Emaar Misr for Development S.A.E, the wholly-owned Egyptian subsidiary of Emaar Properties PJSC, will hold the first-ever sale in Saudi Arabia of villas, apartments and town homes within Marassi and Uptown Cairo - two of its flagship community developments in Egypt - at a special event today (Thursday) at the Jeddah Gate Sales Center, from 1-10 P.M. Interested investors and potential buyers can visit the Jeddah Gate sales center on King Abdullah Street near the old airport, or call 800 12 36227. While Uptown Cairo is in the Mokattam Hills in the center of the capital city, Marassi is located in one of Egypt's most historically favored beaches on the Sidi Abdel Rahman bay. Apart from being part of a vibrant master-planned community, Uptown Cairo will offer customers the privilege of choosing homes from five distinctive neighborhoods anchored by a town center, country club and 18-hole golf course. Marassi homes, on the other hand, have direct sea views with some of the resort-style villas opening to lush green golf courses. Homes in these luxurious projects developed by Emaar Misr have already gained tremendous investor response in Egypt, the United Arab Emirates, and Kuwait. With work having started on the two projects, the first residences in Marassi and the first phase of Uptown Cairo will be handed over to buyers in 2010. Sameh Muhtadi, chief executive officer, Emaar Misr for Development S.A.E, said: “Investor response from Saudi Arabia to Emaar Misr's projects has been strong. This highlights the strong regard for Emaar's pioneering master-planned communities among Saudi investors as well as the Egyptian community in Saudi Arabia. This special sales event was created to offer Saudi investors the opportunity to see Marassi and Uptown Cairo first-hand and make informed decisions.” Mohamed A. El-Moshneb, senior director - Development, Emaar International, added: “With the tourism sector of Egypt gaining investor interest, Emaar will offer Saudi Arabian investors considerable returns on their investments, in addition to providing luxury living environments. Egypt has always been a preferred tourist destination for Saudi Arabian visitors, and through the sale opportunity, we are offering them the option of investing in the two projects that are billed to energize the tourism sector of Egypt.” The $2.1 billion Uptown Cairo development highlights an inimitable living experience that meets the demanding requirements of Egypt's upwardly mobile population. Uptown Cairo is located on 1,000 hectares within Mokattam Hills, removed from the bustle of the city. __
