Aldar Hotels and Hospitality announces strategic development relationship with Ritz-Carlton Hotels

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Notes and media contacts

About Aldar Hotels and Hospitality:

Aldar Hotels and Hospitality is playing a major role in the development of Abu Dhabi's hotel and hospitality sector and has forged agreements with a large number of the world's leading brands and operators in order to deliver on its promise to redefine Abu Dhabi's hospitality landscape.

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 has been entrusted with creating 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 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 over 18 thousand investors throughout the UAE. Aldar's principle corporate shareholders include:
• Mubadala Development Company
• Abu Dhabi Investment Company
• Abu Dhabi National Hotels Company
• National Corporation for Tourism & Hotels
• National Investor

Aldar's current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Yas Island, Al Raha Beach, Central Market, Nareel Island, Noor Al Ain, Al Gurm Resort, and Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building.

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 The Ritz-Carlton Hotel Company:

The Ritz-Carlton Hotel Company is present in key gateway cities and exclusive destinations. Its reputation for exceptional customer quality has been recognized throughout the world with coveted awards marking their leadership in the luxury hospitality field. It enjoys a significant presence in the region with five outstanding hotels and resorts in Bahrain, Egypt, United Arab Emirates, and Qatar. Recently announced future properties include Riyadh and Dubai International Financial Center.

The Ritz-Carlton Hotel Company, L.L.C., a winner of the Malcolm Baldrige National Quality Award in 1992 and 1999, manages 72 luxury hotels in the Americas, Europe, Africa, Asia, the Caribbean, and the Middle East. For information or reservations, call the toll free reservations number in Egypt 02 510 0200, Bahrain 800-00995, Istanbul 00800 4491 1137, Jordan 0800 22010, Kuwait 632 9988, Lebanon 800 432 5965, Qatar 0800 97115, Saudi Arabia 800 8971 435 or UAE 800 4789.

For more information, please contact:
Mona Zayati
Aldar Properties PJSC
Tel: +971 2 696 4729

Mary Khamasmieh
Buchanan Middle East
Tel: +971 (0) 4 369 8581