ALDAR Properties PJSC officially listed on Abu Dhabi Securities Market

This is subsequent to the updating of the shareholder's register.

Official trading of ALDAR shares on the ADSM started at 10.30 a.m. after a launch reception jointly hosted by Ahmed Ali Al Sayegh, Chairman of ALDAR, and Harib Masoud Al Darmaki, Chairman of the ADSM.

Mr Al Sayegh commented: 'We are delighted that the company's shares are now officially listed on the ADSM. ALDAR Properties has been created to offer an opportunity for UAE nationals to participate in the prosperity of the increasingly important real estate market in the Emirate of Abu Dhabi and the UAE.'

Harib Al Darmaki, Chairman of the Board of Directors of the Abu Dhabi Securities Market, today welcomed the commencement of trading of the shares of one of the UAE's leading companies operating in a sector of special significance to the country and its citizens, namely the real estate sector.

Within the framework of continued efforts to enhance standards of living and upgrade economic performance, the Abu Dhabi government has exerted huge efforts to privatize companies, pursuant to the far-sighted and wise policies established by the late H.H. Sheikh Zayed Bin Sultan Al Nahyan, President of the United Arab Emirates and leader of its march towards prosperity, and still upheld by H.H. Sheikh Khalifa Bin Zayed Bin Sultan Al Nahyan, President of the United Arab Emirates and H.H. Sheikh Mohamed Bin Zayed Bin Sultan Al Nahyan, the Crown Prince of Abu Dhabi.

Mr Al Darmaki emphasized the importance for investors to make their investment decisions based on a thorough evaluation of the financial statements and prospects of companies.

ALDAR shares par value was AED 1 per share on listing. The company was formed as a result of an Initial Public Offering (IPO) of shares, and the PJSC was created under Emiri Decree No 808 of 2004.

ALDAR Properties PJSC has an impressive property portfolio including major developments and redevelopments. Three projects of international standing for Abu Dhabi have already been announced earlier this year - the Central Market redevelopment, the Al Raha Beach development, and the Imperial College London Diabetes Centre building.

The new Central Market will be a showpiece project not only for Abu Dhabi itself, but also for ALDAR Properties - which has been awarded an exclusive concession by the Government of Abu Dhabi to redevelop the 45,000 square metre site. The first phase of this multi-billion Dirham project will be ready in the autumn of 2007.

The Al Raha Beach development will provide a lifestyle destination embracing residential, commercial, cultural, entertainment and public amenities - and will enhance Abu Dhabi's natural wealth of water and beach frontage. The new city district is supposed to become the new gateway to Abu Dhabi city.

In addition, ALDAR has been appointed by Mubadala Development Company for the construction of the Imperial College London Diabetes Center building in Abu Dhabi. The Center - a specialized facility for diabetes treatment, care and research - was established by Mubadala, in partnership with Imperial College London. The Center will comprise a treatment unit and a research institute in a specially built facility, which will open by mid-2006.

It is anticipated that ALDAR Properties will announce further substantial projects in coming weeks.