Abu Dhabi developer targeting international investors for US$60b projects

Abu Dhabi developer targeting international investors for US$60b projects


SINGAPORE : Abu Dhabi is fast transforming itself into a global city, and competing aggressively for the investment dollar.

Just two years ago, it opened its real estate sector to international investors, and according to leading developer Aldar, there are opportunities aplenty.

Aldar itself is open to tie-ups with Singapore developers, amid efforts to tap into the property boom in Abu Dhabi.

Abu Dhabi is seeking to establish its place on the world map.

Plans are underway to build a US$15 billion beach city along with other mega-projects such as luxury hotels and resorts, retail malls and high-end residential apartments.

The Guggenheim and Louvre Museums will also be going to Abu Dhabi along with a Ferrari theme park.

With the government planning to invest US$87 billion over the next five to 10 years in infrastructural development and the real estate sector, some have said there is no better time to invest in the city.

Mohammed N.Bin Hamdan, Senior International Relations Manager, Aldar Properties, said, "Abu Dhabi has been quiet for a long time. And now it's open. It's where people would have the opportunities. It's a fresh market. It's where people can start from the beginning of the development.

"Currently we are developing projects worth more than US$60 billion - varying from office, retail, residential, resorts. And the flagship of our projects is the YAS island with the Ferrari theme park, the Formula One race track and different tourist destinations will be created there over the next few years..."

Aldar is a leading developer in Abu Dhabi, with a landbank of 30 million square metres worth US$10 billion.

The city is marketing itself as investor-friendly.

It has no corporate, personal, income or withholding tax, and no foreign exchange controls, quotas or barriers.

Mohammed N.Bin Hamdan said, "It's very flexible when it comes to the international investors. The government has plans to open this to international investment in order to attract the international experience to the market...in order to encourage the international business community to relocate to Abu Dhabi. And that's what they are targeting."

As a top developer, Aldar is keen to tap into the growth.

It is also open to forming alliances with international developers, as well as master planners and suppliers.

Aldar said it was particularly keen on tying up with Singapore real estate companies as the Republic has a good track record in urban planning and property development.


ALDAR Properties PJSC is a leading property development company, with strong investment and management capabilities.

ALDAR was established primarily to create world-class real estate developments for the nation of Abu Dhabi, whilst providing a stable and profitable investment portfolio for all our investors.

We are dedicated to achieving new standards of innovation, excellence and value in urban design and sustainable development. Our priority is the immediate and future benefit of Abu Dhabi and its residents.

The company is owned by leading Abu Dhabi institutions, founder shareholders and over 20,616 investors throughout the UAE. ALDAR’s principle corporate shareholders include:

* Mubadala Development Company
* Abu Dhabi Investment Company
* Abu Dhabi National Hotels Company
* National Corporation for Tourism & Hotels
* National Investor

Central to the success of ALDAR are over 200 multi-disciplinary staff providing expertise and knowledge from around the globe.

Our Vision:

* Rewarding investment - To create for our shareholders a stable and lucrative investment platform providing realistic returns and long term benefits.
* Leadership - To be regarded as the most credible and reliable real estate company in the region by the real estate and financial community as well as our customers and partners.
* Long-term Communities - To create a modern, efficient, attractive and sustainable environments to facilitate the social and economic development of Abu Dhabi.
* Growth - To achieve the attraction of inward investment, and controlled expansion into international markets.
* Premium - To create communities developed to high-quality standards, balancing the need for infrastructure with the sustainability of the environment.
* Environment - To protect and maintain the environment so that our developments complement and enhance the existing beauty of the sea and landscapes.

Mission:

* Deliver maximum return for stakeholders through sustainable and world class property developments.
* Through the planning of our developments, ensure delivery of the highest quality products on time and on budget with the highest standards of finishes.
* At all times be stakeholder focused, responding and reacting to the needs, wants and desires of our shareholders, customers and residents.
* Create and promote developments that are forward looking, innovative and tailored for specific markets.
* Promote Abu Dhabi’s image as a global destination, a good place to live, work, visit and enjoy life.
* Encourage inward investment and promote employment.
* Optimise personal development of staff through quality training, and establishing and maintaining the highest standards of professionalism and ethics.