Press Release

Dubai- 2 August 2009

Construction work on Queue Point, located at Al Liwan in Dubailand, and the first residential project aimed at medium income individuals, has resumed after a series of external challenges earlier halted progress on the project.

Al Mazaya, who signed a contract with Mizin, a subsidiary of the main developer of Al Liwan, to buy 40 plots at the project, has reported that construction work has resumed on all project buildings, with completion rates of 40–60% throughout the project, and has confirmed that Queue Point will be delivered to its owners in 2010.

Eng. Khalid Esbaitah, Managing Director and CEO of Al Mazaya, says of the resumed work on Queue Point, “The Queue Point project has faced many challenges that have affected progress and delivery time, such as delay in delivering plots, development of infrastructure and choosing the right contractors for the project, which is one of the hardest tasks, especially at a time of economic depression where many contractors were impeded due to variance in the price of construction materials and contracts, and the decline of funding. But we have overcome all these challenges and are set to deliver the project in 2010.”

“During the past months, Al Mazaya was already working on numerous tasks that precede construction work and that are considered a major part of development, such as making designs, getting the necessary licenses, etc.,” added Esbaitah.

He went on to say that Queue Point is one of those projects that are able to overcome economic fluctuations, in addition to being an investment that guarantees reasonable returns for investors. According to Esbaitah, the project has not seen any fluctuation in prices at a time when correctional methods are being applied, and demand is going to equal the supply because Queue Point is based on reasonable prices made on an installment basis.

Queue Point is an integrated residential project intended for medium income individuals, and offers high quality and design, and a luxurious lifestyle that is on par with most major projects. The project has attracted numerous residents looking to own affordable apartments, and over 95% of the project units have already been sold.

Queue Point is strategically located in Al Liwan in Dubailand, which is situated close to the intersection between Emirates Rd and Al Ain Rd in Dubai, UAE. The project will sport multi-purpose residential and commercial buildings of between five and 15 storeys, with creative and enchanting designs. Residential and commercial units are interspersed with gardens, green spaces and waterfalls that cater for the needs of different sectors and slices of society.