1. YOUR GATE WAY TO DUBAI

5. Source: IMF World Economic Outlook; Econstats; Ministry of Economy DUBAI (13%) QATAR (7%) BAHRAIN (5%) KUWAIT (4%) SAUDI ARABIA (3%) OMAN (3%)

6. Source: IMF World Economic Outlook; Econstats; Ministry of Economy DUBAI (13%) CHINA (9%) INDIA (6%) IRELAND (5%) SINGAPORE (4%) US (3%)

15. The world’s biggest playground!

24. 2000: Government announces foreign freehold ownership 2000: EMAAR, Nakheel, Dubai Properties launched 2001: Dubai Marina, Palm islands set the trend 2001: Off Plan Selling becomes the Dubai industry model 2002: DIFC, Business Bay, Dubailand projects announced 2002: Investors attracted to the high returns market

25. 2002: Private developers (including DAMAC) emerge 2002: Investor driven aggressive market develops 2003: Construction boom begins with Dubai Marina 2003: Real estate prices soar for the next 4 years 2003: Rentals show steep rise fuelling end-user interest 2005: Infrastructure in Dubai struggles to cope

26. 2005: Delays as completion deadlines get missed 2005: Government introduces 15% rental increase cap 2006: Rental cap lowered to 7% every 2 years 2006: New market segment (Middle income) emerges 2006: Secondary market emerges as units complete 2006: Government introduces Property Law in Dubai

27. 2007: ESCROW Law introduced to boost confidence 2007: RERA established to regulate the real estate market 2007: Broker’s Law makes Agent listing mandatory 2007: Cityscape 2007 announces US$ 1 Trillion in projects 2007: US$ 400 Billion market emerges for Dubai

28. Maturing Property Market Excelent Returns Reduced number of new launches Increasing secondary market activity Improved & Solid legal framework Source: EFG Hermes Report, September 24, 2007

29. Source: EFG Hermes Report, September 24, 2007 Only locals allowed to own property Very few non national buyers, low demand Low levels of supply Stability in a relatively small market Opening of market to non GCC nationals leads to frenzy Demand outstripping supply Supply begins to be built The highest observed price increases in 2003-07 Legal improvements clarify grey areas and improve confidence in freehold ownership Pattern of demand changing but demand remains strong Handover of supply occurring at slower than expected rate Massive appreciation in low end price brackets observed Pre-Freehold Property Boom Market Maturing

30. Source: EFG Hermes Report, September 24, 2007 Residential

31. Sources: Better Homes Commercial Review, Colliers and EFG Hermes Commercial

33. MARINA TERRACE THE WAVES OCEAN HEIGHTS DAMAC HEIGHTS 55% 44% 25% Not yet released RETURNS ON INVESTMENT

34. LA RESIDENCE LA RESIDENCE 2 XL TOWERS BUSINESS TOWER 26% 24% 40% 40% EXECUTIVE BAY 32% 5 Months RETURNS ON INVESTMENT

35. CAPITAL BAY PARK CENTRAL BUSINESS CENTRAL THE CORNER 26% 31% 47% 27% WATER’S EDGE 9% (2 Months) 5 Months 4 Months 3 Months 3 Months RETURNS ON INVESTMENT

36. THE CRESCENT LAGO VISTA LAKESIDE 29% 34% 44% 6 Mths RETURNS ON INVESTMENT

37. LAKE TERRACE LAKE VIEW 53% 53% RETURNS ON INVESTMENT

38. EMIRATES GARDENS 1 EMIRATES GARDENS 2 36% 34% TUSCAN RESIDENCE 34% RETURNS ON INVESTMENT

39. LINCOLN PARK MANHATTAN & AUSTIN 53% 53% RETURNS ON INVESTMENT

40. PARK TOWERS THE HEIGHTS BUSINESS HEIGHTS 25% 28% 28% RETURNS ON INVESTMENT

41. MARINA TERRACE Oct. 2002 THE WAVES Dec. 2002 OCEAN HEIGHTS Oct. 2004 DAMAC HEIGHTS Jun. 2007

42. PALM TERRACE Apr. 2003 PALM SPRINGS Nov. 2003 SUBURBIA Sep. 2007

43. LAKE TERRACE May. 2003 LAKE VIEW Jan. 2004 SMART HEIGHTS Mar. 2006

44. THE CRESCENT Jan. 2005 LAGO VISTA Jul. 2005 LAKESIDE Mar. 2007

45. TUSCAN RESIDENCES Sep. 2006 EMIRATES GARDENS Dec. 2005 May 2006 TERRA DEL SOL Nov. 2004

46. BUSINESS TOWER May 2006 BUSINESS CENTRAL Jun. 2007 BURJSIDE BOULEVARD Jun. 2007

47. LA RESIDENCE @ THE LOTUS Nov. 2006 EXECUTIVE BAY Apr. 2007 CAPITAL BAY Apr. 2007

48. WATER’S EDGE Jul. 2007 THE CORNER Jun. 2007 PARK CENTRAL May 2007

49. HAZ TOWER Jun. 2007 XL TOWERS Mar. 2006

50. LINCOLN PARK Jul. 2007 WESTSIDE AT LINCOLN PARK Jul. 2007

53. Shaping tomorrow’s Skyline Will Shape tomorrow’s Skyline Your Property Investment

54. Live the Luxury