Aldar to make waves with its ultimate waterfront city

Aldar Properties PJSC, the leading Abu Dhabi-based fully integrated property developer, is unveiling some major precincts within its flagship development, Al Raha Beach, at the second annual Cityscape Abu Dhabi Exhibition 2008 to be held at the Abu Dhabi National Exhibition Centre from May 13 to 15th.

  • United Arab Emirates: Tuesday, May 13 - 2008 at 14:41
  • PRESS RELEASE


Visitors stand in line outside Aldar's stand at Cityscape Abu Dhabi, patiently waiting their turn to enter and view ALDAR's Ultimate Waterfront City- Al Raha Beach.
Visitors stand in line outside Aldar's stand at Cityscape Abu Dhabi, patiently waiting their turn to enter and view ALDAR's Ultimate Waterfront City- Al Raha Beach.

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Aldar, a platinum sponsor of Cityscape Abu Dhabi 2008, is showcasing Al Dana precinct, a prestigious commercial landmark in its ultimate waterfront city, Al Raha Beach. Al Dana, meaning 'the mother pearl' in Arabic, is a mixture of iconic commercial and residential properties complemented by a host of entertainment, dining, leisure and yachting facilities at the centre of Al Raha Beach. The signature business district and upscale residential marina community is set to become a sought after venue for business and stylish living, and home to several fashionable shopping districts, boutiques, and promenades.

Al Dana has a collection of architectural masterpieces by world class architects. With iconic buildings such as the Abu Dhabi World Trade Centre by Foster & Partners, a unique residential tower by Asymptote, the Aldar Headquarters by MZ & Partners, the Al Dana residences and towers by 5+Design and a unique building by Rafael Vinoly, Al Dana embodies exclusivity and luxury and is the destination within Al Raha Beach.

Aldar is also showcasing Al Khubeira, the residential component of Khor Al Raha precinct. The gated community is an embodiment of the needs of today's lifestyle, combining the natural and sculpted beauty of Abu Dhabi and the Arabian Gulf with modern living. This tranquil precinct offers exclusive private residences and a host of world class amenities

Ronald Stephen Barrott, CEO Aldar Properties, commented:

'Aldar Properties is looking forward to showcasing these stunning developments at Cityscape Abu Dhabi. Creating sustainable integrated communities is at the forefront of our mission and we are setting several benchmarks in our approach to this business objective. Not only do our projects abide by the Leadership in Energy and Environmental Design (LEED) environmental rating system, we are also continually seeking ways to augment our environmental consciousness. The LEED rating system outlines specifications for green building practices, and to date Aldar has achieved silver to platinum ratings.'



The precincts showcased at Cityscape will enjoy unique advantages, including master planning, integration, excellent location, and superior infrastructure, that are setting the entire Al Raha Beach development apart as the Ultimate Waterfront City.

The eleven precincts will boast a harmonious blend of leisure, business, and tourist attractions that effectively promises residents and visitors a life experience second to none.

'Accessibility has been a very important factor in the development scheme of Al Raha Beach. The infrastructure has been designed to allow the free flow of vehicle and foot traffic throughout the city, and a light rail system along with 'jet cats' and water taxis are planned for the project. This infrastructure planning is an integral part of Aldar's commitment to build sustainable communities,' concluded Ronald S. Barrott, CEO Aldar Properties.




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Notes and media contacts

About Aldar Properties:

Aldar Properties PJSC is a premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. ALDAR was established to create world-class real estate developments for Abu Dhabi, while providing stable and profitable investment portfolio for all our investors and stakeholders

Aldar Properties PJSC is spearheading the development of Abu Dhabi; entrusted to create multi-billion Dirham civic projects to develop the capital, establishing new sectors for commerce, housing, retail and leisure. Aldar's vision is to establish Abu Dhabi as the United Arab Emirate's most dynamic forward-thinking real estate market by creating unique and prestigious developments that can be used as a benchmark of quality, whilst adhering to the cultural and natural heritage of the city.

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 $70bn worth of developments. The Aldar issue, the largest IPO in the history of the UAE at the time, was 448 times oversubscribed and raised an unprecedented Dhs373bn ($102bn) in demand. Aldar's market capitalization is Dhs25.8bn ($7.0bn) as of April 16th 2008.Total retail area across all developments is currently over 1.5 million 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, please contact:
Name: Shali Akkaraju
Buchanan Middle East
Tel: +971 (0) 4 369 8559
Mobile: +971 (0) 50 250 5410
Anne-Birte Stensgaard Posted by Anne-Birte Stensgaard, Senior News Editor
Tuesday, May 13 - 2008 at 14:41 UAE local time (GMT+4)

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