[WEC Reports] Deyaar announces title sponsorship of World Endurance Champions...

Wednesday, 29 October 2008

Demonstrates support for UAE team led by Dubai Crown Prince

Dubai, October 29, 2008: Deyaar Development, the region's fastest growing real estate company, announced today its title sponsorship of the International Equestrian Federation (FEI) World Endurance Championship, set to take place in Terengganu, Malaysia, from November 6-9, 2008. The UAE will be represented in this highlight of the global equestrian calendar by a six-strong team led by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, and Sheikh Majid Bin Mohammed Bin Rashid Al Maktoum, Chairman of the Dubai Culture and Arts Authority.

Earlier this year, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, personally led the UAE team to victory at the Austin Park Endurance Race in London, qualifying the national team to participate in next month's World Endurance Championship.

"We are very pleased to sponsor this landmark equestrian event and, in particular, to demonstrate our support for the UAE team as they prepare to compete in this test of strength and courage," said His Excellency Nasser Bin Hassan Al-Shaikh, Director-General of the Dubai Department of Finance and Chairman of Deyaar. "The UAE has a long and proud association with the sport of horse racing, including earning gold medals at the most recent Asian and Pan-Arab Games. We wish the team great success at the championship in Malaysia."

The FEI World Endurance Championship, held once every two years, is an extremely challenging event, covering 160 kilometres of terrain along the coast of the South China Sea. Held for the first time in Malaysia, the race will feature 142 riders from 34 countries, including stalwarts such as France, Brazil, Portugal, Argentina and Spain.

"Just as the UAE continues to play an increasingly prominent role in the global economic arena, so too is the country taking on a leadership position in the world of sport, especially horse racing," said Markus Giebel, Chief Executive Officer of Deyaar, said: "At the same time, economic and trade relations between this country and Malaysia continue to strengthen, including in sectors such as real estate, finance and tourism.

"For all of us at Deyaar, it clearly made sense to sponsor the FEI World Endurance Championship, a wonderful sporting event that demands teamwork, trust and a shared commitment to excellence. In choosing to sponsor this event and offer our support to the UAE team, we also noted that those are the very same values that continue to make Deyaar itself such a success," Giebel concluded.

About Deyaar:

Deyaar Development PJSC is one of the fastest growing real estate companies in the region. Headquartered in Dubai, the company has grown significantly to evolve into a complete one-stop real estate solutions provider. Today, Deyaar is one of the most prominent brands in the regional real estate sector, with interests in development, property and facilities management, in addition to offering a range of services such as brokerage, marketing and sales. Deyaar's strategic solutions and deep market insights have helped create exceptional value for its investors. The company currently manages over 16,000 commercial and residential properties. Deyaar is set to continue to play a pivotal role in the ongoing development of the region's property landscape. The company complies with the Escrow legislation and all relevant laws in the UAE. Deyaar is registered with the Real Estate Regulatory Authority under reference number 15/07.

For further information, please contact:
Nicholas Nesson / Anusyia Nathan / Nitin Nambiar
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
Email: n.nesson@asdaa.com / a.nathan@asdaa.com / n.nambiar@asdaa.com

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Posted By Steph Teeter to WEC Reports at 10/30/2008 02:07:00 PM