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Abu Dhabi & ALDAR
Abu Dhabi, the capital of the UAE, is the largest of the seven Emirates making up the UAE Federation. It possesses 94 per cent of the country's oil reserves, covers around 87 per cent of the UAE's total land area and is home to 38 per cent of the population. It is both the seat of the Federal Government and a bustling business centre.
The discovery of oil in the early 1960s quickly transformed Abu Dhabi from a pearling centre into a global business powerhouse. Four decades later, oil still remains the main driver of Abu Dhabi economy. The Emirate is the world's fourth largest oil producer, contributing 10% of the world's oil and 5% of its gas production. Recently, however, the Emirate has announced various initiatives aimed at diversifying its sources of income. These initiatives have already begun to pay dividends with the Emirate fast evolving into a magnet of foreign investment and a business hub.
Abu Dhabi is the most populous of the seven Emirates of the UAE Federation, with around 1.6 million (or 38% of the total population) living within its borders. Abu Dhabi is a cosmopolitan city that boasts one of the highest per capita incomes and one of the lowest crime rates in the world.
For more information visit: http://www.visitabudhabi.ae
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 is spearheading the development of Abu Dhabi; entrusted to create 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 70 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 30.3 billion (US$ 8.2 billion).as of June 10th 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 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. |
