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Al Maabar Achieves Further Milestones at Landmark Sites in Jordan and Morocco

Company Awards Phase One Infrastructure Contract for its Flagship Marsa Zayed Project in Aqaba to Jordan-based Hussein Atieh Establishment for Contracting --
And River Front Show Apartment Opens at Bab Al Bahr in Rabat--

ABU DHABI, 20 July 2011: Al Maabar - Abu Dhabi's leading regional real estate development company - continues to see further progress at its landmark development sites in Jordan and Morocco. The company recently announced a contract award to Jordan-based Hussein Atieh Establishment for Contracting for Phase One infrastructure works at its Marsa Zayed project in Aqaba, Jordan. It also sees this month the opening of the first River Front show apartment at its Bab Al Bahr project in, Rabat, Morocco.

Commenting on these latest developments, H.E. Yousef Al Nowais, Managing Director of Al Maabar , states: " Al Maabar is making good progress on its landmark projects in Jordan and Morocco. The award of such a significant infrastructure contract for Marsa Zayed is another major milestone and step forward for this flagship project. It clearly highlights our commitment to the construction schedule we have in place for this historic project and of working, too, with local Jordanian companies to support investment in Jordan. Bab Al Bahr also continues on track, with nearly all major works finished and the show apartment in the River Front district opened to the public for viewing. These are both very positive progressions."

This multi-million dollar contract for Marsa Zayed comprises infrastructure work for the project's roads, water supply, sewage, irrigation, electricity and telecommunications and will run for a period of 30 months. Awarded to Hussein Atieh Establishment for Contracting , the Phase One infrastructure works are scheduled for completion in 2014.

Phase One efforts at the Marsa Zayed site are already well underway, with primary infrastructure works - covering earth works and site grading - launched in Q3 2010. This contract also went to a local Jordanian contractor and these works are scheduled to be completed by December 2011. Phase One of Marsa Zayed will see the construction of 263 village flats, 151 townhouses and the Sheikh Zayed Mosque, which will accommodate 2,000 worshippers.

Marsa Zayed - the mega-mixed use waterfront project in Aqaba, Jordan - is destined to become the new downtown of Aqaba. When all stages are complete, the development will see the transformation of some 3.2 million square metres of desert and mountain land into a 2km waterfront destination in a strategic location on the Red Sea coast in Aqaba.

Bab Al Bahr - Al Maabar 's development in Rabat, Morocco in partnership with l'Agence pour l'Aménagement de la Vallée du Bouregreg - has opened its show apartment in the River Front area of the project. The apartment - a 211sqm, three bedroom apartment with high-end finishing, sophisticated interior design and two terraces with remarkable views of the Bouregreg River and the historical sites of Oudayas Kasbah, Hassan Tower and the medina of Rabat - provides the public with a tangible, first hand opportunity to see the lifestyle that the Bab Al Bahr development will offer. Furthermore, major works on the project's Marina Front and River Front esplanade are now almost finished - 98% of major works at Marina Front are finalised and 97% of major works at River Front - and technical and architectural works are well underway. In addition, the major works of the River Front esplanade are now finalised.

Location Bab Al Bahr will offer a diverse, mixed-use community of residential complexes, hotels, leisure areas, office spaces, shops and art galleries in the heart of the Bouregreg valley. Sales, which were launched in February 2010, are progressing well while the expected completion date for the entire project is 2014. The residential units for Phase 1 of the development will be delivered in December 2011.

-Ends-

About Al Maabar :
Al Maabar is a partnership between Abu Dhabi's six leading real estate and investment powerhouses: Mubadala Development Company PJSC, Aldar Properties PJSC, Sorouh Real Estate PJSC, Al Qudra Holdings PSC, Reem Investments PSC and Reem International LLC.

Rooted in the culture, values and vision of Abu Dhabi, Al Maabar is creating landmark mixed-use destination developments outside of the UAE - and across the MENA region - that work in harmony with local heritage and environments to add real value to the communities and host countries they serve.

With the backing of Abu Dhabi's leading property developers, and with its respectful and forward-thinking attitude, Al Maabar is strongly positioned to create considered and economically sustainable destinations that will prosper and thrive in the long-term.

The company's principal developments are currently based in Jordan and Morocco.

For further enquiries, please contact:
Helen Collier, Hill & Knowlton
Tel: +971 50 640 7219
Email: Helen.Collier@hillandknowlton.com

© Press Release 2011

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