"Over the coming year, through our construction updates and monthly newsletters, you will see the plot locations transform. Already since December, the advances are visible with site offices, fencing and excavating machinery."

The ‘credit crunch’ presents a difficult challenge for small-businesses and major-corporations across the world. It has dramatically affected employment and weakened the super-economies of Europe and the US, threatened well-known banks and established companies that have long and proud histories. Even the United Arab Emirates where large cash surpluses and economic growth insulates the economy the effects of the recession can be felt. Dubai has consistently defied the predictions of economists for years and the effects of the global recession on the Emirate are yet to be understood. However, the Emirates due to the structure of their government are able to act responsively and implement laws or policies rapidly to counter the economic downturn. Whereas such the approvals of stimulus packages or legislation in the G7 countries takes much longer often getting caught-up in political battles. It is important to recognise that the vision of Dubai is long-term.

In the space of a few short years, it has transformed to become a household name and a major-force in not only the Middle East but internationally. Dubai has come a long way towards the realisation of its vision, but there is a still a long way to go and when complete, it will be one of the most important and innovative regions in the world.

We as a company believe that Dubai, with its continued economic growth, predicted at 5.2% for 2009, and contrasted against the negative growth in the US & UK, continues to offer tremendous opportunity for investors. Dubai has established itself as the hub of Middle East trade, a position it will continue to expand through the development of the Al Maktoum International Airport and the shipping facilities at Maritime City. The prestigious developments of the Palm Jumeirah and the Burj Al Arab caught the world’s imagination. Just as important as these iconic locations is the geographic position of Dubai; the crossroads between the markets of the East and West that will capture global business creating long-term value and stability.

A value that is ultimately reflected in the worth of property, as the economy expands and infrastructure develops enabling the Emirate to better serve world trade.

We are a customer-orientated company and have put considerable time and resources into the restructuring of our client account management systems and service practices to provide the strongest possible service. The Internet, through emails and our construction-update portal, plays an important role in our client communication, giving us a platform to provide our clients with photographs and information on the progress of our developments.

Our approach to these changing economic conditions has been one of responsibility and commitment to our clients with a complete focus of the company on the completion of our developments and the overcoming of obstacles that have been put before us such as handover delays from the Master Developer Nakheel. As a result of this total commitment, all of our developments in Dubai are moving forward with groundworks and construction.

Over the coming year, through our construction updates and monthly newsletters, you will see the plot locations transform. Already since December, the advances are visible with site offices, fencing and excavating machinery. We look forward to working with you, as our client, and to deliver both a property and an investment that meets your expectations in 2010.