Abu Dhabi, United Arab Emirates, 2 April 2008 - ALDAR, the renowned Abu Dhabi-based international property developer awarded the first certificates of completion from its Health, Safety and Environmental Training Academy. The construction professionals from ALDAR and other development/construction companies recently completed the IOSH (Institution on Occupational, Safety, and Health) "Managing Safely for Construction Managers" course, delivered by BHB Safety Specialists. .

"ALDAR is very proud of the graduates of this training course," stated Ronald S. Barrott, CEO ALDAR Properties. "Safety and Health standards are an integral part of the construction process, and Health, Safety and Environmental education is a key factor in reducing workplace incidents.  It is our vision to set the best standards for Health, Safety and Environmental protection in the region.  We are proud to be associated with the Institute of Occupational Safety and Health and we will continue to support and promote such education and training in the region."

ALDAR worked alongside IOSH, a globally recognized organization that administers training packages world-wide to develop this training course.  Maintaining standards by providing impartial, authoritative guidance on health and safety issues, IOSH and ALDAR developed a UAE-centric training program to address health and safety issues in this particular construction market.  Intensive training in these safety standards will decrease the amount of accidents to the workers building the projects, and in addition also help to protect the community living around these developments.

"It is of utmost importance that health, safety, and environmental standards are met and upheld in order to ensure that best practices are carried out in the construction process of not only in ALDAR's projects, but in all of the construction currently under progress in the emirate.  Developing this new tailor-made training course with IOSH, ensures that the required standards of excellence in health and safety are met throughout the construction industry and that they are relevant to the construction market in the region," commented Andrew Broderick, Health, Safety and Environmental Team Leader, ALDAR Properties.    

Trevor Hutchinson, Chartered Member and Construction Specialist Representative from BHB Safety Specialists for IOSH concluded, "The construction professionals that attended this program were very receptive to the training.  Upholding these health and safety standards is vital to any construction industry. These first candidates that received their certification will bring a deeper breadth of knowledge to their respective projects by carrying out these international best practices; moreover, they will ensure the safety of the workers on the project which is the primary objective of these safety courses."

BHB Safety Specialists hold training courses at the ALDAR Health, Safety and Environmental Training Academy every day of the year and continually updates its standards and procedures according to the IOSH standards. 

-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 created to spearhead developments of Abu Dhabi's strategic sites was created to fast track real estate investment opportunities within Abu Dhabi and the Emirates in order to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.

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 65 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 USD 3.5 billion as of May 30th 2007. 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 individual investors.

The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut 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 and a 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.

In 2008, ALDAR emerged as the winner by Euromoney Magazine which awarded ALDAR with "Sukuk Issue of the Year" for 2007. Islamic Finance News also announced ALDAR Properties as the winner of two of its prestigious awards for 2007: "Best Mudarabah Deal" and "Best Real Estate Deal." 

For more information, please contact:
Name: Shali Akkaraju
Buchanan Middle East
Tel: +971 (0) 4 369 8559
Mobile: +971 (0) 50 250 5410 
Email: vyshali.akkaraju@buchananme.com

© Press Release 2008