Aldar Properties & Al Maabar launch Abu Dhabi Plaza in Astana, Kazakhstan

Notes and media contacts

About Aldar Properties:

Aldar Properties PJSC is the premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. The company was formed as the result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004. Aldar Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors. Aldar Properties PJSC was created to fast track real estate investment opportunities within Abu Dhabi and the Emirates, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.

The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, and the YAS Island project which is to include a Warner Bros theme park.

In August 2007 Aldar announced its expansion into Malaysia via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia.

About Al Maabar:
Meaning "The Gateway", is a joint venture between Al Qudra Real Estate, Sorouh Real Estate, Aldar Properties, Al Reem Investments, and Al Reem Development, the five main operators in the emirate's property market. The alliance was formed in order to establish a private stock company which will invest in the global property market. Al Maabar will look at developments and projects in the GCC, North Africa, and Europe.

Al Maabar is one of the leading property development companies internationally and has several strategic alliances for development throughout the Arab world, and world-wide. The first investment for Al Maabar is in Ribat, the capital city of Morocco. The development company is planning to develop 500,000 square meters of land in Ibn Raqaq Valley; a project which is named Bab Al Bahar. The infrastructure has been completed by the agency, Ibn Raqaq, a partner of Al Maabar in Morocco. The first stone is scheduled to be placed at the beginning of 2008.

Currently, Al Maabar is working on the master plan for a new project in Tunisia which will be finalized at the end of this year. In addition, Al Maabar will unveil three strategic projects in Libya which will include resorts, spas, shopping malls, and offices.

Last month, Al Maabar signed an agreement to develop three projects in the Republic of Belarus. Al Maabar is to visit Belarus in the following months as the development company considers this country a major investment destination.

Al Maabar is also prospecting property development in Cairo, Egypt.

For more information, please contact:
Aimee Peters
Buchanan Middle East
Mob: +971 50 2868 796

Mohammad Shaban
Buchanan Middle East
Mob: +971 50 3173 798