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TAMEER delivers first “Palace Towers” units to owners

Excellent location and extensive amenities promise an attractive lifestyle and prosperous business

Dubai, UAE, August 3, 2009

Mr. Abualhaija – Tameer Development Manager, handing over the documents to PERI (LLC)

Leading Middle East property developer TAMEER Holding Investment LLC has commenced the delivery process of its recently completed landmark development located in the heart of Dubai Silicon Oasis.

“I am delighted to receive the first commercial unit at Palace Towers. It gives me great pleasure to be in the neighborhood of several major organizations that have chosen to establish their headquarters in Dubai Silicon Oasis, and I am confident the location will present strategic commercial advantages,” said Mr. Hans-Joachim Rau, Managing Director of PERI (LLC), a subsidiary of PERI GmbH, the largest manufacturer and supplier of formwork and scaffolding systems in the world.

Federico Tauber, President of TAMEER Holding Investment LLC expressed his satisfaction at successfully delivering the project’s first commercial unit. “I thank all our investors and the
entire TAMEER team for their commitment to the Palace Towers project. We are very proud to present our first units to owners and look forward to welcoming the new occupants to this landmark complex in Dubai Silicon Oasis, one of Dubai’s fastest rising and most attractive residential and commercial locations.”

Palace Towers is a complex of 424 contemporary and elegant residential apartments, and 150 office suites allowing each owner to shape his own living and working space.

Strategically located on Emirates Road with easy access to Dubailand, Arabian Ranches and Dubai Autodrome, its close proximity to various schools, universities and retail outlets in addition to Dubai Airport and World Trade Centre makes it an ideal location for business and residence alike.

Palace Towers offers a range of amenities to its residents including a fully equipped gymnasium, children’s play area, two swimming pools, as well as cafés, restaurants and shopping facilities.