Abu Dhabi - 11 January 2009- Aldar Properties PSJC, Abu Dhabi's leading property development, investment and management company, today announced the appointment of Sami Asad as Chief Operating Officer with immediate effect.
Sami has been acting COO since October 2008, having originally joined Aldar as Technical Director in September 2008. Previously he was Deputy Vice President of Projects at Dolphin Energy for 5 years and before that occupied various managerial positions at ADNOC
Commenting on the announcement, John Bullough, CEO of Aldar said, "Over the past four months, Sami has demonstrated exceptional capabilities and I am delighted that he has accepted this position. He will be a major asset to the Aldar executive team."
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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 AED 1.5 billion (USD 408 million) on the Abu Dhabi Securities Market, Aldar has already announced more than USD 72 billion 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 AED 373 billion (USD 102 billion) in demand. Aldar's market capitalization is AED 32.3 billion (US$ 8.7 billion).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.
For more information, please contact:
Mona Zayati
Aldar Properties PJSC
Tel: +971 2 696 4729,
Mob: 050-4108400
Email: mzayati@aldar.com
© Press Release 2009
