Emaar Pakistan to hold balloting for registered customers of Crescent Bay on March 31

Karachi, Pakistan; March 29, 2008: Emaar Pakistan, the country subsidiary of the world’s leading property developer Emaar Properties PJSC, will hold a balloting for registered customers of Crescent Bay development on March 31, 2008. The balloting follows overwhelming sales interest to the Crescent Bay launch recently. Potential customers who registered will be selected from the lot for a right to purchase homes and office space within the master-planned community. 

To ensure fair and transparent allocation of the properties to all customers who had registered at Karachi, Islamabad and Dubai, Emaar Pakistan has commissioned the service of a third party to conduct the balloting. Representatives of the media and the management of Emaar Pakistan will be present.

Mr Mohammed Al-Falasi, Managing Director, Emaar Pakistan, said: “We thank customers for their overwhelming interest in Crescent Bay, one of the flagship projects of Emaar Pakistan. The balloting will ensure fair distribution of properties within Crescent Bay to the registered customers. Crescent Bay has been envisaged as a world-class development that will further energize the Pakistani economy by creating new job opportunities and supporting the growth of ancillary industries.”

Results of the balloting will be displayed on the Emaar corporate website (www.emaar.com) within a week after balloting. All successful applicants will also receive a letter from Emaar which will outline the purchase procedures. In addition, information on the sales process and ballot results, amongst other queries can be obtained through Emaar’s toll free number 0800-EMAAR (36227). Moreover other applicants can continue to participate in the future launches within Crescent Bay. 

Crescent Bay is a part of the multi-billion dollar development projects Emaar has announced in Pakistan. It is part of Karachi’s DHA Phase 8, which includes the DHA Golf Course and is ideally located near Karachi’s central business district. Crescent Bay covers 108 acres, and will include high and mid-rise towers for residential and commercial use, all replete with comprehensive amenities. The master-planned community will include a shopping centre as well as a 5-Star beachfront hotel.