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Thursday, November 12 - 2009

Aldar takes centre stage in London

  • United Arab Emirates: Monday, November 12 - 2007 at 07:16
  • PRESS RELEASE

Aldar Properties PJSC, Abu Dhabi's leading and fully integrated property developer, is joining a host of leading companies from the Emirate of Abu Dhabi at the World Travel Market Exhibition 2007.

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  • YAS Island, Abu Dhabi.
    YAS Island, Abu Dhabi.
Held annually at the ExCel Exhibition Centre, London, UK, the World Travel Market Exhibition attracted 25,000 visitors from 202 countries last year. Aldar Properties is making its debut showcasing its tourism and leisure developments at the exhibition.

The city of Abu Dhabi is home to Aldar's 34m square metre land bank and the Abu Dhabi Tourism Authority has signed a unique two-year agreement to become World Travel Market's official Premier Partner for 2007 and 2008, in a move that underlines the Gulf emirate's commitment to Britain's top travel show, as well as building its profile in the UK and wider European market.

Aldar will showcase its tourism and leisure developments, and will highlight its Hotels and Hospitality division which is poised to play a major role in the development of Abu Dhabi's hotel and hospitality sectors. Aldar has already signed agreements with internationally renown hotel groups ACCOR SA, Movenpick and Oberoi, as well as teaming up with Middle Eastern brands such as Rotana. To date Aldar has signed agreements to develop 11 hotels and the company plans to continue to develop relationships with more international hotel operators in the future.

Ahmed Ali Al Sayegh, Chairman of Aldar Properties, said:

"Our vision is to be recognized as a key player in the GCC region as well as throughout the world. Participating at World Travel Market in London elevates our brand and indeed our city onto a global stage and underlines our key role to promote Abu Dhabi on an international platform."


"Aldar aims to bring Abu Dhabi to the forefront of the international tourism market. With many projects under development that are geared towards tourism and leisure, Aldar is proud to be promoting the emirate in an international arena," said Ronald Barrott, CEO, Aldar Properties. "To highlight our ambition for the emirate, we have partnered with the government of Abu Dhabi in this endeavour to position Abu Dhabi as a top leisure destination. We are proud to build on that vision at this exhibition."

Paul Bell, Managing Director, Aldar Hotels and Hospitality, added: "With more and more flights operating between Europe and the UAE, Abu Dhabi is becoming a short-haul destination in the minds of Europeans. The right accommodation is a key ingredient to making the capital city a popular leisure destination. Aldar Properties is developing hotels ranging from 3-star to luxury to maximize tourism, opening the market to a wide range of travelers. At Aldar Hotels and Hospitality, we can deliver great hospitality options with impeccable service working with our world-class partners."

Aldar will showcase some of its major developments at WTM such as YAS Island, a large natural island with a total land area of 2,500 hectares, located off the main island of Abu Dhabi. Home to the world's first and only Ferrari Theme Park, YAS Island will also be home to a Formula 1 racetrack, a Warner Bros. Theme Park, water park, three championship golf courses and an equestrian centre. With luxury hotels, lagoons, beaches, commercial offices, boutiques and spas, YAS Island is set to become a unique international tourist attraction.
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About Aldar Properties
Aldar Properties PJSC is a premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. Aldar was created to spearhead developments of Abu Dhabi's strategic sites was created to fast track real estate investment opportunities within Abu Dhabi and the Emirates in order to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.

Since its inception in 2004 through a share offer (IPO) of Dhs1.5bn ($408m) on the Abu Dhabi Securities Market, Aldar has already announced more than $60bn worth of developments. The Aldar issue, the largest IPO in the history of the UAE, was 448 times oversubscribed and raised an unprecedented Dhs373bn ($102bn) in demand. Aldar's market capitalization is $3.5bn as of May 30th 2007. Total retail area across all developments is currently over 1.5m square meters. The company is owned by leading Abu Dhabi institutions, founder shareholders and individual investors.

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 and a Ferrari theme park.

Aldar's first international expansion was announced in August 2007 via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia. This was followed in October 2007 with plans announced to build a mixed-use development in Kazakhstan.

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

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

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