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Monday, November 9 - 2009

Aldar announces new plans for Noor Al Ain

  • United Arab Emirates: Thursday, September 25 - 2008 at 08:13
  • PRESS RELEASE

Aldar Properties today announced that it was revising its Noor Al Ain project in Al Ain to cope with new guidelines developed by the Abu Dhabi Urban Planning Council (UPC) through the UPC's constant consultation process with its developer partners.

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  • Noor Al Ain.
    Noor Al Ain.
Ahmed Ali Al Sayegh, Chairman, Aldar Properties, said:
"Aldar and UPC and a number of other developers and consultants have been working closely on a new set of guidelines that will evidently be integrated into the Urban Structure Framework Plan for Al Ain."


"Aldar is keen to bring its heralded concept of integrated development to Al Ain and will do whatever it takes to deliver the future growth of the city as envisioned in the plan while ensuring that the culture and heritage of the area are preserved," he added.

The revised Noor Al Ain multi-use development will feature a mix of residential, office, retail, luxury, and entertainment facilities, at the heart of Al Ain. Aldar will establish several residential buildings, a retail centre, a hotel, class "A" office space, and a host of entertainment and leisure facilities that will set the development apart as a sought-after destination. The height of the buildings will be reduced in line with the new guidelines of the UPC. These guidelines are intended to preserve the unique architectural pattern of the oasis city.

Falah Al Ahbabi, UPC General Manager, commented:
"The Urban Structure Framework Plan for Al Ain will be officially announced in the coming months and we at UPC appreciate the cooperation and dedication that Aldar has shown in revising the Noor Al Ain development to adhere to the principles of the Plan. This truly shows the constructive partnership already established between the government and private sectors to serve the Abu Dhabi Emirate's 2030 Vision."


The hallmark of the development will be Noor Al Ain shopping centre, which will provide 160,000 square metres of retail space. Combining value-for-money everyday items and a wide array of high-end luxury brands from around the world, this retail centre will cater to the versatile needs of residents, visitors and shoppers. Integral to this development are spa, and multi-screen cinema facilities that promise to transform the shopping centre into a full-fledged entertainment experience. While the rooftop gardens will bring the greenery effect into the interior, a fun-triggering water park and an indoor beach will help make the beach life experience a yearlong option for the residents of this inland city.

The project aims to transform Al Jimi Mall, a bustling shopping centre, into a full-fledged development that will enhance Al Ain's attraction as a premium leisure destination. The multi-use development is set to become the focal point for the over 500,000 residents as well as visitors who are lured by the Garden City's natural beauty and other tourist attractions.
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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 Dhs32.3bn ($8.7bn).as of July 24th 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, kindly contact:

Mary Khamasmieh
Media Relation Specialist
Buchanan Middle East
A WPP Company
P.O. Box 282032 Dubai, UAE
Tel: 971 4 3698581
Fax: 971 4 3698556

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