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Aldar Properties PSJC, Abu Dhabi's leading property development, investment and management company, today announced the appointment of Sami Asad as Chief Operating Officer with immediate effect.

Sami has been acting COO since October 2008, having originally joined Aldar as Technical Director in September 2008. Previously he was Deputy Vice President of Projects at Dolphin Energy for 5 years and before that occupied various managerial positions at ADNOC.

Commenting on the announcement, John Bullough, CEO of Aldar said, “Over the past four months, Sami has demonstrated exceptional capabilities and I am delighted that he has accepted this position. He will be a major asset to the Aldar executive team.”

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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 has been entrusted with creating 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 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. Aldar’s market capitalization is AED 32.3 billion (US$ 8.7 billion).as of July 24th 2008.Total retail area across all developments is currently over 1.5 million square meters.

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