November 28th Abu Dhabi, United Arab Emirates: ALDAR Properties PJSC announced its flagship project Central Market today, revealing the new skyline of Abu Dhabi and the new heart and soul of the city.

Central Market is set to become the city's core "live, work, play" destination in the tallest cluster of buildings world wide. Rejuvenating the heart and capturing the soul of the city, Central Market is a true mixed-use development, open 24-hours a day and catering to Abu Dhabi's booming business, retail and residential demands.

Creating the perfect harmony between tradition and modern innovation, Central Market combines world-class architecture with local heritage. Foster + Partners created the masterplan, which was recently awarded the prestigious EG Retail and Future Project Award at the international retail property exhibition MAPIC in Cannes.

"We recognize how firmly the local population is attached to the old market and its history," said ALDAR Chairman Ahmed Ali Al Sayegh. "The new Central Market will redefine the centre of Abu Dhabi while respecting its heritage as the daily meeting point for thousands of residents and visitors to the city. Central Market will become the landmark for the city."

Central Market will also become the lifestyle destination of the city, home to an Arabian souq, high-end retail outlets, fine dining restaurants, world class hotels, state-of-the-art office space, luxurious apartments, outdoor water features, rooftop gardens and beautifully landscaped greenery.

The new souq will aim to recapture the heritage of the site by offering authentic Middle Eastern goods including textiles, jewellery, gold, spices, perfume, carpets and gifts. However, it is the mix of the souq and the high-end outlets and boutiques in the retail podium that will make Central Market truly exciting and original.

"This will not be a mall in the traditional sense, but will be a destination offering the visitor or resident myriad leisure, entertainment and retail possibilities," said Chief Executive Officer, Ron Barrott. "It will be a unique experience and the first of its kind in the region, as we are already in negotiation with some of the most exciting and original names in the retail world."

Central Market will address the constantly expanding needs of the thriving capital, as Abu Dhabi's growing business and tourism requirements place major demands on property of all levels.

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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. The company was formed as the result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004. ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors

ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.

The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate, such as the Central Market in Abu Dhabi, the Al Raha Beach Development ,Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building in Abu Dhabi, and Al Jimi Mall Expansion in Al Ain.

© Press Release 2006