281 plots at Al Merief fully sold over a one week period

Successful sale generates over AED600m of revenues in the coming quarters

Substantial payments made on all plots - de-risking the development

Next phase of Aldar's development plan underway - more to come at Cityscape

Abu Dhabi, 23 March 2015: Aldar Properties PJSC ('Aldar'), Abu Dhabi's leading listed property development, investment, and management company, has successfully completed the sale of all 281 land plots at Al Merief in just one week. Aldar's first development in 2015 was fully sold in an off-market sales process, generating over AED600m of revenues in the coming quarters.

Located in Khalifa City, Abu Dhabi, the land plots were purchased by Emirati buyers with down payments terms of between 50% and 100%. This successful sale reflects strong demand for infrastructure enabled plots in sought-after locations in Abu Dhabi and the confidence that Emirati nationals have in Aldar's developments.

Mohammed Al Mubarak, Chief Executive Officer of Aldar, said: "We are seeing unprecedented demand for infrastructure enabled land in Abu Dhabi as the Emirate continues to develop and the economy grows.  The rapid sale of the plots at Al Merief shows that Aldar has the right development strategy in place and that we are delivering quality products to meet the needs of this growing city.  Al Merief marks the next phase of Aldar's development plan and furthers our strategy to monetise our land bank, and derisk our developments."

Al Merief is a master-planned residential community for UAE Nationals located in the fast growing Khalifa City near Al Raha Beach, Abu Dhabi.  Al Merief will feature villas and apartments, and be complemented by parks, mosques, a school operated by Aldar Academies, along with a retail outlets and a petrol station. The 690,000 sqm high-quality residential community will enable Emiratis owners to build homes for generations to come or lease them for investment purposes.

-Ends-

Media inquiries
Alya Al Mutawa
Aldar Properties
+971 2 810 5555
Will Anderson
Brunswick
+971 2 234 4600

About Aldar
Abu Dhabi-based Aldar Properties PJSC is one of the largest developers in the Middle East and North Africa region, with US$10 billion of assets. The company has developed some of Abu Dhabi's most iconic and complex projects, from Yas Mall and the Formula 1 facilities on Yas Island to the thriving new Shams Abu Dhabi community on Al Reem Island. Its property portfolio is diversified and balanced with a total asset mix comprising residential communities, retail property, with the remaining in commercial. There are also nine hotels with more than 2,500 available rooms. With a land bank of over 77 million square metres, 90 per cent of which is in special investment zones, Aldar Properties is focused on serving the growing demand in the UAE for high-quality and professionally managed property. Aldar Properties is a strong partner of the Government of Abu Dhabi, which is also a major shareholder. The business is aligned with the Emirate's "Vision 2030" strategy of economic diversification and social infrastructure development. www.aldar.com

© Press Release 2015