Aldar reports milestone progress on Yas Island infrastructure

Key milestones have been achieved on the multi-billion dollar project, with over 30% of the infrastructure of phase 1 complete, with the remaining scheduled for completion well before the 2009 Formula One Etihad Airways Abu Dhabi Grand Prix.

Commenting on the progress of Aldar's Yas Island, Ronald Stephen Barrott, CEO of Aldar Properties stated:

"This exceptional performance and the ongoing achievements by the Yas Island development team highlight the dedication and commitment that Aldar puts into its projects. Yas Island is set to become a world famous tourist attraction for Abu Dhabi, and it will contribute to the tourism industry of the United Arab Emirates."

Aldar is currently in the process of deepening the canal leading to Yas Island to allow super yachts to anchor in the Royal Yas Marina, providing excellent views for the audience to the Yas Marina Circuit.

The Royal Yas Marina wall and excavation is currently 90% complete.

The marina is dammed to complete the remaining construction in the dry and is scheduled for flooding in the 2nd quarter of 2009.

The Yas Marina Circuit is progressing very well. The pit building and the four grandstands for the Abu Dhabi Grand Prix's spectators will be completed by mid-2009, with concrete works for the top floor levels nearing completion and installation of mechanical, electrical and plumbing infrastructure now underway.

Grading and shaping works in preparation for construction of the pavement for the race track itself are well progressed..

Yas Mall and parking structure piling works are also progressing on schedule. The highways and bridges are well advanced and will be complete for race day.

"Yas Island infrastructure will be ready for the expected visitors for this inaugural event. The development team and workforce have worked with exceptional efficiency, and we are very pleased with their efforts," commented Steve Worrell, Project Director, Yas Island.

"With three vehicle entrances to Yas Island for the race day, race goers will experience easy traffic flow through these access points. "

The Yas Island project covers an area of 25km2 and is set to become a cornerstone of Abu Dhabi's fast growing tourism industry.

In addition to racing circuit, the development will include Ferrari World Abu Dhabi, a Warner Bros.

Theme Park, five-star and boutique hotels, a water park, 356000 square meters of retail space, a links golf course, 3 marinas, restaurants, various entertainment facilities and luxurious residential property.

Ronald Stephen Barrott, CEO, Aldar Properties, concluded: "Yas Island is just one component of Aldar's diverse development portfolio, which is attracting considerable worldwide interest and inward investment. The unique tourist destination will complement scores of residential, business, retail, and other community-oriented projects that set Aldar apart as a leading integrated developer."