ALDAR wins BEX’s “Best Futuristic Design” and ITP’s “Best Island Development” Awards

Sunday, 29 Jun 2008
Category: Real Estate
Countries: United Arab Emirates
Description: The new ALDAR headquarters on Al Raha Beach and the YAS Island Development are recognised in Valencia and Dubai.

The new ALDAR headquarters on Al Raha Beach and the YAS Island Development are recognised in Valencia and Dubai.

ALDAR Properties, Abu-Dhabi's leading integrated property development company, has won international recognition for the design of two of its major projects. ALDAR headquarter building on Al Raha Beach development has been proclaimed the "Best Futuristic Design" by The Building Exchange (BEX) Conference held in Valencia, Spain, from 23rd to the 25th of June.

On the other hand, ALDAR's leisure destination, Yas Island, has clinched the "Best Island Development" title at the Arabian Property ME Awards 2008. Yas Island has been voted by the Senior Editors and Directors of ITP Publishing Group, organisers of the Arabian property Awards which recognise and celebrate success in the region's property sector. 

At an awards ceremony in Valencia on the last evening of the BEX Conference, Ronald Stephen Barrott, CEO, ALDAR Properties, said, "It is my pleasure to receive this award on behalf of the ALDAR team. It is indeed a great honour to see ALDAR's efforts in contributing to the civic expansion of the capital city of Abu Dhabi get such high recognition by this elite gathering of industry leaders." 

The ALDAR Headquarter building is located in Al Dana precinct, the commercial centre of Al Raha Beach development, the Ultimate Waterfront City.  The futuristic spherical building, the first of its kind in the world, is designed by the world-renowned architects, MZ & Partners.  Standing at approximately 110 metres, this structure is built with the use of recyclable materials: glass, steel, and concrete, an automated vacuum waste system, and with the use of prefabricated elements to reduce waste creation and/or recycling and includes a district cooling plant. 

The Yas Island development is a multi-use entertainment destination strategically located off the city of Abu Dhabi. Occupying a total land area of 2,500 hectares and claiming 1,700 hectares for development, the island will play host to a multitude of featured attractions, such as a world-class motor sports racetrack, signature shopping malls and hotels, the Ferrari World Abu Dhabi Theme Park, a water park, a Warner Bros. Theme Park, in addition to several other leisure, residential, and entertainment amenities and activities.

"ALDAR's headquarter building is located prominently in Al Dana precinct, the commercial and financial hub of Al Raha Beach. It will be a landmark within the "Ultimate Waterfront City" on the approach to Abu Dhabi.  Yas Island will play its part in shaping the tourism industry in Abu Dhabi.  Both of these developments are well deserving of these recognitions and we look forward to keeping the attention on the fantastic up and coming developments of the nation's capital," Barrott concluded.

Contact Details

Name: Mary Khamasmieh
Contact Number: 971 4 3698581
Additional Information: 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.