ALDAR, TDIC, Department of Transport Discuss Impact of Public / Private Partnerships Ten Lane highway between Shahama - Saadiyat expected to be completed in 2009

Abu Dhabi, 26th November 2007: The Urban Planning Council (UPC) of Abu Dhabi held a press conference today to showcase the milestones achieved on the Shahama - Saadiyat highway, which will link Abu Dhabi Island, Shahama through Yas and Saadiyat Island.

As the capital enters its next phase of development and regeneration, it is critical that there is cooperation at every level to address the infrastructure requirements that the development will create. Working in conjunction with the private sector including ALDAR, Tourism Development & Invesment Company (TDIC), as well as the Department of Transport, UPC has quickly formed a consortium of experts to construct the Shahama - Saadiyat highway, which is expected to be completed in summer 2009.

 "It is a central element of our mandate to ensure that the Abu Dhabi Plan 2030 is delivered in a structured and coordinated way - we are delighted to be here today to demonstrate some concrete examples of our progress to date alongside our partners," commented Falah Al Ahbabi, general manager of the UPC. "Under the Chairmanship of His Excellency Sheikh Mohammad bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Chairman of the Executive Council, Deputy Supreme Commander of the UAE Armed Forces, the UPC is committed to working alongside partners from the public and private sectors to ensure the highest quality in delivering this comprehensive plan, which will position Abu Dhabi as one of the leading cities in the world."

The project is being supervised by ALDAR and TDIC. Six Construct Company and Taisei Corporation will be leading construction work. Design for the ten lane highway, and an incorporated bridge, was by Halcrow International. The entire project is expected to cost AED1.83bn.

"The Department of Transport is currently preparing a Surface Transport Master Plan, to provide a blueprint for all modes of transport in the context of UPC's Plan 2030," commented Faisal Ahmed Al Suwaidi, Excutive Director of Highways, Department of Transport, Abu Dhabi. "Linking the central business district (known as CBD), Saadiyat Island, Yas Island, Al Raha and the airport, this highway will relieve congestion in the Salam Street corridor. Moreover, its design makes provision for future mass transit options in the central median. Working closely with the private sector from the start has resulted in a streamlined and efficient project. We expect to see similar public-private partnerships in the future."

The Department of Transport outlined a number of policy initiatives during the conference, including measures to promote public-private partnerships. Strategies for highway, maritime, civil aviation and public transport are being integrated by the Department, to improve efficiency, safety, convenience and reduce environmental impact.

"TDIC is firmly committed to supporting the UPC in its role of overseeing the implementation of Plan Abu Dhabi 2030," commented Ahmed Hussein, Chief Operating Officer,, TDIC.

"We have already begun constructive dialogue with the Council to ensure our plans and goals are firmly aligned to the overarching aim of delivering an outstanding, global capital with an active, diversified economy."

"Abu Dhabi's tourism infrastructure is being developed at a considered pace with quality and sustainability as its core ethos. TDIC's developments are designed to assist delivery of ADTA's aims of attracting a discerning, up-scale visitor base which demands, and appreciates, the highest quality of accommodation and attractions and has a high propensity for repeat visitation. Saadiyat Island is our flagship project and epitomizes our long-term approach to creating a destination of truly global standing."

"A collective approach to construction procurement from across the public and private sectors, ensures that international best practices and user concerns are in-line with the bigger picture of the Abu Dhabi Plan 2030 from an early stage," commented Mohamed Al Mubarak, Director of Estates & Infrastructure, ALDAR. "We are committed to fostering trust, transparency and openness in all of our projects, and working with this team has enabled a smooth process to date, and undoubted success in the future."

The first phase will consist of building the new interchange in Shahama, a 7km road and a bridge that links this interchange to Yas Island. The second phase will include building three suspended bridges linking Yas Island with Saadiyat Island through Fahd and Jubail Islands, along with a 14 km road to link these bridges. The construction of the suspended bridge construction linking Saadiyat Island with Abu Dhabi Island has already commenced. The new freeway will not only provide improved access to Abu Dhabi Island, Yas and Saadiyat, but will have the added benefit of streamlining traffic through the area.

The three major interchanges comprise of 20 post tensioned box girder bridges, spanning 270 metres long and up to 35 metres wide and six kilometres of associated carriageway construction, which includes half a million cubic metres of embankment fill and utility diversions. The work will be carried out over the existing Sh. Maktoum Bin Rashid Road and will be completed within the next 18 months.

-Ends-

About UPC
President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has issued in his capacity as Ruler of Abu Dhabi, a new law setting up the Abu Dhabi Urban Planning Council (UPC). As per law No. 23 for 2007, the UPC shall be an independent corporate entity enjoying financial and administrative independence and full legal status to operate. The council is to be chaired by General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces.

About the Department of Transport
The Abu Dhabi Department of Transport (DOT) was established pursuant to Law No. 4 of year 2006 to cover the entire value chain and ensure fully coordinated planning in all aspects of transport policy and development. Previously, Abu Dhabi's transport responsibilities were handled by a variety of entities, across both the local and Federal Government, including: The General Civil Aviation Authority (GCAA), Department of Civil Aviation, Department of Municipal Affairs and the Sea Ports Authority (SPA). 

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 60 billion worth of developments. The ALDAR issue, the largest IPO in the history of the UAE, 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. www.aldar.com

About Tourism Development & Investment Company:
Tourism Development & Investment Company (TDIC) is a public joint stock company established under Law No: 12 of 2005 as decreed by the Abu Dhabi Ruler and UAE President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan. TDIC is an independent organisation empowered to manage the tourism investment zones of the Abu Dhabi Tourism Authority (ADTA), which directs and implements strategy for the expansion of the emirate's tourism sector. TDIC will develop the real estate assets that support ADTA's mission of assisting UAE economic diversification through tourism development.

TDIC, launched with an initial paid-up capital of AED100 million (US $27.5 million) with its shareholding fully owned by ADTA, operates along strictly commercial lines with its projects being self-sustaining and economically feasible. Its activities include creating development and tourism related concepts for specific sites and locations, disposing of, or repositioning, government-owned tourism related assets, entering into joint ventures with investment partners for assets such as hotels or residential products, as well as serving as the master developer for large scale projects.

For further information please contact:
Aimee Peters 
Mohammad Shaban
Buchanan Middle East
A WPP Company
Direct: +971 4 3698569
Fax: +971 4 3698556
E-mail: aimee.peters@buchananme.com    
E-mail: mohammad.shaban@buchananme.com  

© Press Release 2007