Aldar Properties
Encyclopedia
Aldar Properties PJSC is a real estate
development, management and investment company with headquarters in Abu Dhabi
, United Arab Emirates
. It releases and builds projects such as Al Raha Beach, Al Jimi Shopping Centre, Al Raha Gardens, Yas Island
(which includes the Yas Marina Circuit, Ferrari World
and Yas Marina Hotel
), Al Gurm Resort and the Abu Dhabi Central Market (Souq).
ALDAR was established in 2000 through the UAE Offsets Programme. Its first employee was Christopher Sims MRICS , MHKIS, ACIArb, who built the company from ground zero to create real estate developments for Abu Dhabi, while providing stable and profitable investment portfolio for its investors and stakeholders. Its first development was the Al Jimi Shopping Centre in Al Ain, which won an ICSC award; which to date is the only UAE retail property to win such a coveted international award,
ALDAR Properties PJSC believes in maintaining the strong heritage of Abu Dhabi through the spirit of Hoyamal
, which gives meaning and purpose to the promise of "Building the Nation".
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.
In 2004 through a share offer (IPO) of AED 1.5 billion (USD 408 million) on the Abu Dhabi Securities Exchange
, Shortly thereafter, ALDAR announced more than USD 72 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. Christopher Sims left as the company's founding CEO in March 2006 after seven and half years of service to the company. As of July 24, 2008 ALDAR's market capitalization was AED 32.3 billion (US$ 8.7 billion) . Total retail area across all developments is currently over 1.5 million square meters.
The company is now 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.
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
development, management and investment company with headquarters in Abu Dhabi
Abu Dhabi
Abu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...
, United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
. It releases and builds projects such as Al Raha Beach, Al Jimi Shopping Centre, Al Raha Gardens, Yas Island
Yas Island
Yas Island is an island in Abu Dhabi.The island is the site of a US$36 billion development project by Aldar Properties. It occupies a total land area of 2,500 hectares, of which 1,700 hectares will be claimed for development. The island contains the Yas Marina Circuit, which hosts the Formula One...
(which includes the Yas Marina Circuit, Ferrari World
Ferrari World
Ferrari World is a Ferrari themed amusement park on Yas Island in Abu Dhabi. The park is situated under a roof making it the largest indoor amusement park in the world. Ferrari World officially opened on November 4, 2010...
and Yas Marina Hotel
Yas Marina Hotel
Yas Viceroy Abu Dhabi is a hotel facility built across the F1 Yas Marina Circuit in Abu Dhabi.-Design: Yas Viceroy Abu Dhabi is located within the Yas Marina Circuit, Abu Dhabi...
), Al Gurm Resort and the Abu Dhabi Central Market (Souq).
ALDAR was established in 2000 through the UAE Offsets Programme. Its first employee was Christopher Sims MRICS , MHKIS, ACIArb, who built the company from ground zero to create real estate developments for Abu Dhabi, while providing stable and profitable investment portfolio for its investors and stakeholders. Its first development was the Al Jimi Shopping Centre in Al Ain, which won an ICSC award; which to date is the only UAE retail property to win such a coveted international award,
ALDAR Properties PJSC believes in maintaining the strong heritage of Abu Dhabi through the spirit of Hoyamal
Hoyamal
Hoyamal is the national anthem of the United Arab Emirates, closely associated with Dubai.-Origins:Historically, pearl divers of the UAE sailed on month-long trips to earn their living...
, which gives meaning and purpose to the promise of "Building the Nation".
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.
In 2004 through a share offer (IPO) of AED 1.5 billion (USD 408 million) on the Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange [ADSM] is a stock exchange in Abu Dhabi, United Arab Emirates . It was established on 15 November 2000 to trade shares of UAE companies. There are trading locations in Abu Dhabi, Al Ain, Fujeirah, Sharjah, and Ras Al Khaimah...
, Shortly thereafter, ALDAR announced more than USD 72 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. Christopher Sims left as the company's founding CEO in March 2006 after seven and half years of service to the company. As of July 24, 2008 ALDAR's market capitalization was AED 32.3 billion (US$ 8.7 billion) . Total retail area across all developments is currently over 1.5 million square meters.
The company is now 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.
External links
- Company website
- Aldar Properties Projects — TEN Real Estate