Friday, September 05 - 2008

Al Bandar scaling to new heights

Tenants of Al Bandar, the tranquil waterfront precinct in Al Raha Beach, can expect to move into their units starting from the fourth quarter of 2009.

  • United Arab Emirates: Wednesday, July 23 - 2008 at 14:33
  • PRESS RELEASE


Al Bandar.
Al Bandar.

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Aldar Properties, Abu Dhabi's leading integrated property, investment, and management company, today reported landmark progress on the precinct, one out of 11 making up the Ultimate Waterfront City.

'We look forward to welcoming tenants to this charming precinct in late 2009,'



said Ronald Stephen Barrott, CEO, Aldar Properties.

'Al Bandar will be the first residential district to be inhabited in the entire Al Raha Beach Development,' he added.

Built on a 35,000 square metre site, Al Bandar will feature over 500 bedroom apartments of various sizes, distributed over five buildings. Occupants of these units will enjoy world-class amenities including a health club, a gymnasium, restaurants and retail units, all conveniently located within easy reach. The precinct has access by sea and a multitude of other transportation modes to the rest of Al Raha Beach areas, and to neighbouring tourist destinations such as Yas Island. Within the precinct itself, residents will have a wide choice of outdoor activities in the car-free environment where all parking lots are underground.

Ronald Stephen Barrott, CEO, Aldar Properties adds:

'The progress of work on Al Bandar and in invariably all Aldar developments is a vivid proof of our unequivocal commitment to delivering world-class projects that will set the benchmark in quality and sustainability. We look forward to delivering this precinct to its residents and to Abu Dhabi.'



The report confirmed that the formwork slab preparation was at nearly the top level for the majority of the buildings. Slab work is 40% complete on the Podium, the main retail and recreation area which contains a club-house, supermarket, kindergarten, retail shops, an open souk, water features, three swimming pools, one Jacuzzi, a tennis court, shaded structures or pergolas, and variation of soft and hard landscape features for the residents' and visitor's enjoyment and relaxation.

The lower and upper basements are 100% complete on this podium with the lower level basement to contain all the plant rooms for the mechanical and electric services, and water tanks. Al Bandar will offer its residents car parking spaces for over 800 cars.




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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 Exchange, Aldar has already announced more than $72bn 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 Dhs30.3bn ($8.2bn).as of June 10th 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:
Mary Khamasmieh
Media Relation Specialist
Buchanan Middle East
P.o.Box 282032 Dubai, UAE
Tel: 971 4 3698581
Fax: 971 4 3698556
Mob: 971 50 2731753
Siba Sami Ammari Posted by Siba Sami Ammari
Wednesday, July 23 - 2008 at 14:33 UAE local time (GMT+4)

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