REMRAAM™ Community Meets Significant Construction Milestones on all Four Phases of Development

New Upgrades to Interior Design and Community Services Reaffirms Commitment to Delivering Affordable Upscale Lifestyle

Dubai: 17 August, 2009 –REMRAAM™ today announced construction work at its prestigious 22.6 million square foot community is on schedule with notable progress achieved on all four phases of the development.

Contractors, working simultaneously on all aspects of the community, have completed the superstructure on a substantial number of buildings to their full heights.  In addition, 90 per cent of the excavation work has been completed, while the foundation for over 70 per cent of the buildings has been poured.

Infrastructure work throughout the development is progressing as planned.  Interior design has been finalized and interior finishes for apartments have also commenced.

In an ongoing effort to deliver premium community living to its residents, REMRAAM has revisited the master plan and upgraded both the interior design and community services within the development. A model apartment has been completed with enhanced fixtures and finishes and a mock-up/show building is in progress and will soon be open for investor viewing.

Saeed Bushalat of Dubai Properties Group said:

The REMRAAM community is steadily taking shape and has met several key construction milestones in the past month. This progress confirms our commitment to our investors and to the scheduled delivery of this groundbreaking development.

REMRAAM has always been guided by customer insights and inspired by our investor’s lifestyles and needs.  Our enhanced product offering is in keeping with the customer-centric approach to our business.

REMRAAM is fully compliant with all RERA regulations and has converted its customer payments schedules from fixed payments to a timeline based on construction milestones that will be independently verified.  In addition, REEMRAAM investors have been offered several options to assist them during the current economic crisis, including incentives that will reward prompt payments with a reduction of up to 30 per cent on their purchase price.

Set across 22.6 million sq. feet and combining upscale community living with a value for money proposition, the Arabian-themed development features low-rise architecture, high quality standards and an outstanding location within DUBAILAND®, ideal for a wide range of potential homeowners.

When fully completed, REMRAAM will be a self contained community, offering lush landscaping covering over 85 per cent of the  development and a range of facilities including swimming pools, a gym and health club, sauna and steam rooms, tennis and basketball courts, a full-fledged community mall with restaurants and entertainment outlets, in addition to retail outlets, nursery, parks and walkways.

Notes to Editors

About REMRAAM™:

REMRAAM™, is the best selling development to date in the UAE, selling over 8,000 units within 7 months. Conceived to fill a prominent gap in the market, REMRAAM™ meets the needs of families looking to have an affordable yet upscale lifestyle, founded on unparalleled quality standards.

For Further Information, Please Contact:

Dina Samhout
Associate Account Manager
Jiwin Public Relations
A member of the Media Services Group
Phone: +971-4-3755247
Email: Dina.Samhout@jiwin.ae

Or

Ghaith Nazzal
Senior Account Executive
Jiwin Public Relations
A member of the Media Services Group
Phone: +971-4-3692926
Email: Ghaith.Nazzal@Jiwin.ae