OQYANA

Residential property Investment

Oqyana, which is also known as Oqyana-World First, is a development project being built on the man-made islands of The World, off the coast of Dubai, United Arab Emirates. Its name was taken from the the Arabic word for Oceanic and it will occupy 19 islands of The World, which correspond to the islands of Australasia (Australia and New Zealand).

Oqyana will have spectacular views of the Dubai coastline and be accessible from the mainland through a ferry service. It is expected to the residence of between 10 to 12 thousand people as it will will comprise of more than 1,650 sea-view apartments and mansions, 90 water homes, about 170 canal homes, and two high-end hotels, including a spa resort.

Oqyana will occupy a total area of 1.87 million square meters (20 million square feet) and a total onland area of 417 thousand square meters (4.5 million square feet). It will contain 17 kilometers (10.5 miles) of inter-linked walkways, 5,300 meters (17,388 feet) of shore front and a marina with over 1,500 private yacht berths. It is being developed at a cost of US$ 3.5 billion (AED 13 billion) by a division of Kuwait-based Investment Dar and was masterplanned by Australian-based Woods Bagot.

Project website: www.oqyana.com

Oqyana Real Estate (Oqyana) was established as a Kuwaiti real estate brokerage firm, in 2002, called Damnat Al Khalij Real Estate Company. The company was re-organized and re-branded in 2005, only and specifically to develop the Oqyana World First project in the UAE. The project will comprise 19 man-made islands extended over a total area of 1.7 million square meters (18.3 million square feet) and will cost KWD1 billion (USD3.5 billion).

Oqyana World First will be the largest single development on Dubai's 300 man-made island project, The World, occupying almost 6% of the total area. Oqyana World First will include 2,500 residential units, two hotels and a host of leisure and logistics facilities, with a population of about 20,000 people, divided equally between residents and staff. It will be covering the islands of Australasia (Australia and New Zealand).

Oqyana, whose total assets increased to KWD314 million (USD1.089 billion) in 2006 from KWD257 million (USD892 million) a year earlier, will apply to list its shares on the Kuwait Stock Exchange by the end of 2007.

Expected Completion Date - In 2012

Reclamation Progress:
The reclamation process of OQYANA World First Islands is 100% complete. The topographic image of the reclamation progress reveals the status of actual site reclamation as of 16th October 2007

Finalization of Design:
Since 2005 OQYANA has hosted technical workshops to finalize the master plan and project features. OQYANA World First unveiled the final master plan publicly at the Arabian Travel Market on the 6th May 2008.

The stage of procuring the most experienced and prestigious international construction contractors is on going for this prestigious project.

Development:
Construction is expected to begin this summer, in particular for infrastructure works, and we anticipate launching sales at the end of this year.