Mubadala and Aldar forsee joint development of new medical facilities in the UAE

Notes and media contacts

About Mubadala Development Company
Mubadala Development Company (Mubadala) is the investment and development company at the forefront of Abu Dhabi's economic transformation.
At the core of its strategy, Mubadala makes long-term, capital intensive investments to deliver strong financial returns and economic diversification. Its mandate is to transform the Emirate from a single-sector economy, driven predominantly by oil and gas, into a multi-sector global economy that comprises a range of thriving industries.

Its focus is on developing the key industry sectors of healthcare, technology, aerospace, energy and real estate, and building links between them to ensure that the economy is fully integrated and sustainable.

About Mubadala Healthcare
Mubadala Healthcare is a division of Mubadala Development Company. It is specifically dedicated to creating a robust private healthcare infrastructure for Abu Dhabi and the region. The division is dedicated to investing in patient care delivery and ancillary services, biotechnology, pharmaceuticals, and medical equipment and device manufacturing.

Mubadala's healthcare services strategy is designed around the needs of the patient with an absolute commitment to quality. It aims to provide the highest international standards of care and superior clinical outcomes, thereby avoiding the need for UAE patients to travel abroad for medical treatment.

Working with best-in-class clinical operating partners from around the world, Mubadala Healthcare is actively investing in carefully chosen projects in order to achieve this objective.

Together, the projects will form a vertically integrated healthcare delivery network, supported by state-of-the-art IT systems and medical technologies to provide a seamless and high quality patient experience.

As well as improved healthcare, wellbeing and productivity, this new healthcare infrastructure will also bring sound financial returns and encompass further economic diversification and job opportunities for the Emirate's people.

Current and upcoming healthcare projects:
1. Cleveland Clinic Abu Dhabi - a state-of-the-art 360-bed Cleveland Clinic hospital; due to open in early 2011
2. Imperial College London Diabetes Centre - a centre of excellence specializing in diabetes treatment, research, training and education; opened in 2006
3. Abu Dhabi Knee & Sports Medicine Centre - the first healthcare facility in the Middle East to specialize in the diagnosis and treatment of patients with knee and sports-related injuries; opened in 2007
4. Molecular Imaging Centre - a specialist molecular imaging facility including PET-CT and Cyclotron, located on the Tawam Hospital Campus, Al-Ain city; due to open in early 2009
5. Minhaal - the first dual-language online resource providing accurate and up-to-date medical information in both English and Arabic; launched in January 2008
6. National Reference Lab - a fully automated reference laboratory providing services to public and private health providers in Abu Dhabi and the UAE; will revolutionize laboratory testing in the UAE; due to open in late 2008
7. Sports City Medical & Diagnostic Centre - a multi-specialty centre providing a range of medical specialties as well as advanced diagnostic imaging; located at Zayed Sports City in Abu Dhabi and due to open in mid 2009

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 a 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 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 further information (including images of Cleveland Clinic and Imperial College London Diabetes Centre):
Mubadala:
Hanan Harhara
+971 (0) 2 413 0009
+971 (0) 50 511 0322

Aldar:
Shali Akkaraju
+971 (0) 4 369 8559
+971 (0) 50 250 5410