ALDAR's Al Muneera and Al Zeina Precinct Net AED 850 Million in Sales at IPS.

ALDAR, the renowned Abu Dhabi-based international property developer, reached AED 850 million sales this week at the International Property Show 2008 in Dubai, showcasing its waterfront development Al Raha Beach's Al Muneera and Al Zeina precinct.

"The communities we develop go beyond the expected offering in this region. ALDAR has taken extreme care in conceptualising its developments. The Al Raha Beach development embodies modern living with ease and luxury, and the quality of work that we uphold during the construction phases of our projects makes them a valuable proposition. This fact is evidenced by the attention we receive from prospective buyers," commented Ronald S. Barrott, CEO ALDAR Properties. "The ALDAR team is enthusiastic to showcase our developments, and in particular at this exhibition, the Al Muneera and Al Zeina precinct, because they are truly great offerings."

The Al Zeina project is the gateway to the Al Raha Beach waterfront development, and is a self-sustainable mixed use community, incorporating a light railway and canals as alternative transport methods to explore the many retail, shopping or residential districts.

"The reason why we have experienced high sales in this exhibition is due to the calibre of ALDAR's projects, and the time and attention that we are willing to spend with our buyers," commented James Khazaei, Head of Sales and Leasing, ALDAR Properties. "The Abu Dhabi market has matured and is continuing to do so, and we have seen consistent demand from market savvy buyers who have an understanding of our market, and the value of our unique concept and exceptional design and construction standards that we employ."

Set to be handed over in December 2009, Al Zeina contains luxury residential apartments, townhouses and beach front villas, private boat moorings, retail high street with local supermarket and shops, waterside restaurants and cafes, 500-metre public beach with landscaped gardens, luxurious shared gardens and open spaces.

About ALDAR PropertiesALDAR 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 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 theme park.

In August 2007 ALDAR announced its expansion into Malaysia via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia.

[c] 2008 Al Bawaba (www.albawaba.com)