Emaar Sukuk Ltd XS0586840588 - London Stock Exchange

c103695pu010 Proof 7: 17.1.11 B/L Revision:* the selected financial data as at and for the year ended 31 December 2009 appearing in thisBase Prospectus has been extracted from Emaar’s 2009 audited consolidated financial statements;and* the selected financial data as at and for the year ended 31 December 2008 appearing in thisBase Prospectus has been extracted from the comparative financial information as at and for theyear ended 31 December 2008 included in the 2009 audited consolidated financial statements,which has been restated to take into account the application of IFRIC 15 (Agreements for theConstruction of Real Estate). The selected financial data as at and for the year ended 31December 2008 has not been extracted from the 2008 audited consolidated financial statementsas such data is not directly comparable to the financial data as at and for the year ended 31December 2009 as it appears in the 2009 audited consolidated financial statements due to theeffect of the application of IFRIC 15 (Agreements for the Construction of Real Estate). See note2.2 to the 2009 audited consolidated financial statements for further details.Emphasis of MatterErnst & Young’s audit report in respect of the 2009 audited consolidated financial statements and itsreview report in respect of the 30 September 2010 interim condensed consolidated financial statementseach include an emphasis of matter relating to (i) an arbitration proceeding resulting from a claimmade against Emaar in respect of a conditional joint venture agreement in the Kingdom of SaudiArabia and (ii) Emaar’s investment in Amlak Finance PJSC. Emaar has settled the arbitrationproceeding referred to in (i) above in December 2010 with neither party having any claim against theother in respect of the dispute. See ‘‘Description of Emaar Properties PJSC – Financial Services –Amlak Finance’’ and the relevant reports contained in ‘‘Financial Information’’ for further details.The Consolidated Financial Statements are located at page F-1 of this Base Prospectus.Certain Publicly Available InformationCertain statistical data and other information appearing in this Base Prospectus have been extractedfrom independent public sources identified in this Base Prospectus. Each of the Issuer and Emaarconfirms that such information has been accurately reproduced and that, so far as it is aware and isable to ascertain from information published by the relevant sources, no facts have been omittedwhich would render the reproduced information inaccurate or misleading.CurrencyAll references in this document to U.S. dollars, U.S.$ and $ are to the lawful currency of the UnitedStates of America, references to Sterling and £ are to the lawful currency of the United Kingdom andreferences to AED and dirham are to the lawful currency of the United Arab Emirates. The UAEdirham has been pegged to the U.S. dollar since 22 November 1980. The mid point between theofficial buying and selling rates for the dirham is at a fixed rate of AED3.6725 = U.S.$1.00. Allreferences to euro and g refer to the currency introduced at the start of the third stage of Europeaneconomic and monetary union pursuant to the Treaty on the Functioning of the European Union, asamended. In addition, all references in this Base Prospectus to the UAE are to the United ArabEmirates and references to Dubai are to the Emirate of Dubai.RoundingCertain financial and statistical amounts included in this Base Prospectus are approximations or havebeen subject to rounding adjustments. Accordingly, figures shown as derivations or totals in certaintables may not be exact arithmetic derivatives or aggregations of the figures that precede them.NOTICE TO UK RESIDENTSAny Trust Certificates to be issued under the Programme which do not constitute ‘‘alternative financeinvestment bonds’’ within the meaning of Article 77A of the Financial Services and Markets Act 2000(Regulated Activities) (Amendment) Order 2010 (the Non-Regulatory AFIBs) will represent interests in acollective investment scheme (as defined in the Financial Services and Markets Act 2000 (the FSMA))which has not been authorised, recognised or otherwise approved by the Financial Services Authority.Accordingly, this Base Prospectus is not being distributed to, and must not be passed on to, the generalpublic in the United Kingdom.4