Leisure destination will be showcased at ITB Singapore
Abu Dhabi, United Arab Emirates- Visitors to ITB Singapore will have a closer look into the host of tourist attractions being developed by Aldar Properties as part of its flagship luxury leisure destination in Yas Island. While Yas will be the hallmark of Aldar's participation in ITB, Abu Dhabi's leading property development, investment and management company will also use the high profile event to highlight its diverse portfolio of developments that are aimed at promoting the capital of the United Arab Emirates as an investment magnet and a tourist destination.
As Abu Dhabi stands poised for hosting the F1™ Etihad Airways Abu Dhabi Grand Prix in November 2009, progress on the Yas Circuit which will be the play ground for the highly anticipated event should be of particular interest to the visitors of the show, being held at the Suntec Singapore International Convention & Exhibition Centre from 22nd-24th of October.
Special focus will also be given to Yas Island's other attractions including Ferrari World Abu Dhabi, destined to become the world's largest indoor theme park when it opens in 2009, the Warner Bros. Theme Park, and the water park.
In addition, Aldar's plans to transform Abu Dhabi into a world-class yachting destination will be highlighted during the three-day event. The newly introduced entity, Aldar Marinas, will provide a broad range of leisure marine facilities and services that constitute an integral part of Aldar's waterfront developments. The first marinas to become operational are located on Aldar's premier Yas Island and Al Raha Beach projects. Each marina will have its own identity and will provide state-or-the-art facilities for the yachting community from entry level boating to destination yachting.
"ITB is a great opportunity to showcase what this luxury leisure destination has to offer. Aside from its leisure attractions, Yas will also feature schools, hospitals, luxury residences, and a significant retail facility," commented John Bullough, CEO, Aldar Properties.
He added: "The Ferrari branded theme park is taking shape and is progressing for its anticipated opening in early 2010. The racetrack on Yas Island which will welcome the F1™ Etihad Airways Abu Dhabi Grand Prix in 2009 is also firmly on schedule. The diverse package of developments being created at Yas will contribute substantially to the attainment of Abu Dhabi's aspiration to become a tourist epicentre. "
The Yas Island development covers an area of 2500 hectares and is set to become a cornerstone of Abu Dhabi's fast growing tourism industry. In addition to the Yas Marina racing circuit, the development will include Ferrari World Abu Dhabi, a Warner Bros. Theme Park, five-star and boutique hotels, a water park, over 300,000 square meters of retail space, a links golf course, several marinas, restaurants, various entertainment facilities and luxurious residential property.
- Ends -
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 Central Market, Al Raha Beach, Nareel Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, and the Yas Island project which is to include a Warner Bros Theme Park, a Formula One race track, and the world's first Ferrari Theme Park
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 4444
Email: mzayati@aldar.com
Mohamed Afifi
Buchanan Middle East
Tel: +971 (0) 4 369 8553
Mobile: +971 (0) 50 780 8268
Email: mohamed.afifi@buchananme.com
© Press Release 2008
