Waterfront appoints new Chief Financial Officer

Waterfront, the newly instituted venture by Nakheel that will develop the largest waterfront development in the world, has announced the appointment of Zouheir Sabra as Chief Financial Officer.

Mr. Sabra will be responsible for managing all financial activities on behalf of Waterfront and will be a key member of the senior management team. He holds a Bachelor in Business Accounting and an MBA from the Beirut University College and passed the uniform exam of the American Institute of Certified Public Accountants in November 1996. Mr Sabra has a 14-year experience in the banking and financial field which includes local and regional experience.

For more information, please contact Michela Chiappa, Bates PanGulf

Public Relations, Tel: +971-4-295 3456; Fax: +9714-295 1027

Mobile : +971-50-3943889; E-mail: michela@batespangulf.com