ALDAR signs Mövenpick Hotels & Resorts for Al Raha Beach

Notes and media contacts

About ALDAR Hotels and Hospitality:
ALDAR Hotels and Hospitality is poised to play a major role in the development of the hotel and hospitality sector in Abu Dhabi. It identifies hospitality related opportunities on ALDAR developments and determines best fit brand, partners and business models.

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.

About Mövenpick Hotels & Resorts
Mövenpick Hotels & Resorts, an upscale hotel management company with 12,000 employees, is represented through over 90 hotels existing or under construction in 26 countries with a concentration in its core markets of Europe, Africa, the Middle East and Asia. The international hotel group with roots in Switzerland is expanding and has a stated objective of increasing its hotel portfolio to 100 by the year 2010. With two hotel types, business and conference hotels, as well as holiday resorts, Mövenpick Hotels & Resorts has clearly positioned itself in the upscale segment. The hotel group stands for uncompromising product and service quality and is owned by Mövenpick Holding (66.7%) and the Kingdom Group (33.3%).

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