Aldar inks MoU with ARKAN

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 $65bn 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.

About ARKAN Building Materials Company:
Arkan Building Materials Company PJSC was incorporated in Abu Dhabi in 2005. It specializes in investing in the growing building products sector of the Gulf Region. Arkan was formed by the General Holding Corporation (GHC), a company wholly-owned by the Government of Abu Dhabi. In January 2007, 49% of the shares were listed on the Abu Dhabi Securities Market (ADSM) to allow local shareholders the opportunity to participate in the company's growth. Today, the Government of Abu Dhabi, though the GHC, still owns 51% of the shares.

Arkan is the leading building materials company in Abu Dhabi and currently owns Emirates Cement Factory and Emirates Blocks. Arkan is growing its portfolio of businesses and aims to become the leading building materials company in the Region. As well Arkan is establishing an industrial park in Al Ain as an industrial integrated park in the region.

Arkan as a pioneer in the building materials industry owns the Emirates Cement factory, Block Factories (Al Mafraq & Al Ain).

New Projects:
As a part of Arkan' strategic expansion, the following enterprises are under construction: Al Ain Cement Factory, New Block Factories, Dry Mortar Factory and Strategic Sites in the industrial zone at AL Musfah.

Arkan recently invested in the Vision Group, one of the groups within the Abu Dhabi-based Royal Group. The Vision Group comprises three complementary businesses:
(1) Decovision, an interior design and custom-made furniture supplier which also furnishes and manages apartments
(2) Vision Furniture & Decoration Factory, which specializes in the manufacture of wooden furniture, paneling, doors and cupboards
(3) Vision Serviced Apartments, which is in the business of managing and leasing serviced apartments.

For more information, please contact:
Name: Shali Akkaraju
Buchanan Middle East
Tel: +971 (0) 4 369 8559
Mobile: +971 (0) 50 250 5410