Super Regional Mall has one of the largest free standing roofs in the world

Abu Dhabi- 18 November 2008-- Aldar Properties, Abu Dhabi's leading property development, investment and management company today unveiled plans to build a signature Super Regional Mall as part of Abu Dhabi's premier retail and leisure destination at Yas Island.

Leading retailers, property developers and investors attending MAPIC, one of the world's major retail real estate events, will have a closer look at Aldar's "Yas Mall", a Super Regional facility which will provide in excess of 700 retail and catering units including four major department stores and six hotels.

The Super Regional Yas Mall will serve not only the local and regional markets but also the millions of tourists visiting Yas Island's host of tourist and leisure attractions, including the world's first Ferrari Theme Park, a water park and the 2009 Formula 1 Yas Marina Circuit which will host the Etihad Airways Abu Dhabi Grand Prix in November 2009

"The Mall will serve one of the most affluent populations in the world, with Abu Dhabi already ranking among the world's top list in terms of GDP per capita. The capital's local population is expected to increase by 40 % in the next five years. By then, Abu Dhabi hopes to draw some 2.7 million tourists.  Yas Mall , on account of its strategic location will be best placed to serve both the national and international customer," comments Mohammed Al Mubarak, Aldar's Chief Commercial Officer

The Yas Mall will feature a fantastic line up of brand name stores from around the world, along with the world's most dazzling video and water displays. It will be the focal point for the community  playing host to a variety of tastes and budgets, special events, exclusive exhibitions and cinema premieres.

Comments Philip Vaughan, Director of Retail Development, Aldar Properties: "MAPIC is a great opportunity to reveal details of Aldar Super Regional Yas Mall. We are also keen to show investors and industry leaders the progress across our entire retail portfolio. On completion in 2011, the Mall's retail area will amount to some 460,000 m2 and together with the adjoining theme parks will total a massive 780,000 m2 of retail and leisure."

Yas Mall will be directly connected to the themed attractions on the Yas Island, including the Ferrari World Abu Dhabi theme park and the water park.  There will be high level dining terraces and garden areas as well as a lush interior environment and beautiful water features, all contained under the one  spectacular roof.

The design of Yas Mall has been inspired from the best retail destinations in the world to create something unique and inspiring to visitors.  Extra emphasis has been applied to create a uniquely positive customer experience, through accessibility and tenant mix.

"Our participation in MAPIC is expected to encourage greater international retail investments in Abu Dhabi, and defines Yas Mall as one of the world's largest lifestyle, shopping and entertainment destinations" added Vaughan.

MAPIC on it's 14th edition, will have over 2,300 retail developers from 71 countries, and more than 1,050 exhibitors with a comprehensive range of retail real estate projects, that will offer an incomparable perspective of the sector.

-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

Mary Khamasmieh
Buchanan Middle East
Tel: +971 (0) 4 369 8581
Mobile: +97150 2731 753
Email: mary.khamasmieh@buchananme.com

© Press Release 2008