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Mon 19 May 2008 01:08 AM

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Aldar strikes Arkan supply deal

UAE developer announces strategic alliance with building materials firm to link supply chains.

Abu Dhabi's Aldar Properties said on Sunday it had agreed a strategic alliance with Arkan Building Materials Company, which will become a major supplier to the UAE developer.

The two firms signed a memorandum of understanding which would “maximise business opportunities”, and link their supply chains, they said in a statement.

“The MoU we have signed today with Arkan is in line of Aldar's commitment to partnering with highly credible suppliers with strong track record for delivery. Through such alliances we can ensure our projects are implemented on time and to the highest quality Standards,” Aldar Chairman Ahmed Ali Al-Sayegh said in a statement.

“We are pleased to sign this MoU with Aldar and hope we will be able to develop it into a full-fledged partnership for our mutual benefit," Salem bin Mohamed Al Dhaheri, chairman of Arkan, said in the same statement.

"We look forward to contributing to Aldar projects by securing a proper supply chain that will allow Aldar to maintain its excellent delivery record.”

Aldar has announced developments worth more than $65 billion since its inception in 2004. Its portfolio includes 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.

Arkan was incorporated in Abu Dhabi in 2005. Formed by the General Holding Corporation, a company wholly owned by the government of Abu Dhabi, it owns Emirates Cement Factory and Emirates Blocks.

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