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Emaar-IGO launches sale of Eighth Gate
Commercial Centre in Dubai on Feb. 23

  • Prime office space within master-planned community near Damascus
  • Work on the AED 1.84 billion (US$500 million) project is on-schedule

Dubai, UAE; February 19, 2008: Emaar-IGO, a venture between Emaar Syria and IGO, an offshore investment and property development company, will host an exclusive sale of prime office space within The Eighth Gate, Emaar-IGO's master-planned community in Syria, at the Downtown Burj Dubai sales centre on February 23 from 10am to 6pm.

The Dubai sales event will be a unique opportunity for Syrians in the UAE and investors seeking growth opportunities in Syria to purchase commercial space within the much-sought after Eighth Gate Commercial Centre, located in Yafour, only 15 minutes away from the Damascus city centre.

The AED1.84 billion (US$500 million; SYP26 billion) Eighth Gate has three distinct components - Waterfront, Touristic Area and Commercial Centre. Introducing a new concept in office and retail space development, the Commercial Centre will anchor the largest mall in the Levant region and will also house the Damascus Stock Exchange. Other highlights of the Commercial Centre are a 32-storey office tower with 1,510 sq m space on each level, and low-rise commercial offices.

Dr Nader Mohammed, Regional Managing Director, Emaar International said: "Syria is one of the key emerging markets in the region, and the country offers growth opportunities in several economic sectors. As the pioneering master-planned development in Syria, The Eighth Gate has a strong commercial component to meet the demands of investors - regionally and internationally. The Dubai sales event will showcase the features of The Eighth Gate, which will appeal to both Syrians and others, looking to invest in the country."

Dr. Anas Kouzbari, Member of the Executive Committee of Emaar-IGO, said: "Companies in the UAE are expanding regionally, and Syria is one of their destination markets. The Eighth Gate will be an ideal base for them to explore the high-growth environment of Syria. By hosting a sales event in Dubai, we are also offering Syrians living in Dubai an opportunity to explore investment options in their home-country."

Featuring modern infrastructure of world-class standards, the Commercial Centre of The Eighth Gate was recently launched to strong investor response in Syria. It integrates Arab architectural elements, thus blending the comfort of tradition with the dynamism of a modern workplace.

The Eighth Gate takes its inspiration from the legendary seven gates that were access points to Syria's rich civilization. A signature tall gate marks the access to the main plaza. Adding to the location advantage, The Eighth Gate is easily accessible from Damascus Airport. Work on the mega-project is progressing on schedule.

Emaar's expansion to Syria is in line with its Vision 2010 to become one of the most valuable companies in the world. An integrated lifestyle provider, Emaar is expanding to education, healthcare, financial services, shopping malls and hospitality & leisure.

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