Emaar Chairman hails announcement by Supreme Fiscal Committee

Emaar Chairman hails announcement by Supreme Fiscal Committee

Dubai, UAE; December 14, 2009: Following the announcement today by the Dubai Supreme Fiscal Committee that the Government of Abu Dhabi will provide US$10 billion to the Dubai Financial Support Fund, Mr. Mohamed Ali Alabbar, Chairman of Emaar Properties, said:

“This significant announcement by the Supreme Fiscal Committee has provided reassurance to the regional and international investment community that the ties that bind the United Arab Emirates are strong, and that our shared vision of sustainable growth will continue to be realised – despite the challenges posed by the global financial crisis.

“Inspired by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, this city has risen to meet the challenges of the age. Informed by His Highness Sheikh Mohammed’s steadfast determination to remain on the path to progress, Dubai continues to invest in the infrastructure required to meet the needs of the 21st century global economy, supporting a vibrant public-private partnership model that continues to attract the world’s leading businesses to Dubai.

“Today’s announcement represents one more step forward in Dubai’s decades-long journey towards progress and prosperity for its citizens. As a fully integrated participant in the global economy, we surely face further challenges as we continue to forge ahead. But let us make no mistake: our city is strong, as is the federation.

“Together, as one nation, the United Arab Emirates will continue to serve as a model of economic diversification and opportunity.”