ALDAR signs joint venture agreement with Zabeel Investments for world-class Links Golf Course (UAE)

ALDAR, the renowned Abu Dhabi-based international property developer signed a joint venture agreement with Dubai-based Zabeel Investments cementing plans to develop a links golf course on YAS Island. The signing took place during the Abu Dhabi Golf Championship and was carried out by Mohammed Ali Al Hashimi, Executive Chairman, Zabeel Investments, and Ahmed Ali Al Sayegh, Chairman, ALDAR Properties.

With the rapidly developing demand for new golf facilities across the region, the new course designed by Kyle Phillips, one of the world's leading golf course designers; will be built on the west shore of the island. The area is of immense ecological significance and importance to wildlife and sealife. Birds use the marshlands for their migratory routes, and the shoreline contains mature coral reefs housing teeming hoards of sea life; including some species that are unique to the region.

Zabeel Investments is fast emerging as a responsible developer that retains a passion for preserving, protecting, and enhancing the environment in its construction projects. Together with ALDAR, it will work to ensure the ecological importance of YAS Island, which will be maintained and where possible, enhanced during this development.

"ALDAR's projects reflect our aim to create meaningful developments that not only enhance the community, but also respect and maintain what the land has to offer naturally. We take great measure in ensuring that our projects are 'green,' because we are aware of what a vital role it plays to the beauty and health of our land and understand that it is our responsibility to do our part in protecting it," concluded Ahmed Ali Al Sayegh, Chairman, ALDAR Properties.

The links golf course, expected to break ground in May of 2008 will cover a total land area of approximately 910,000 square meters. The links golf course will only be a few hundred meters from the Ferrari Theme Park.

On the inland perimeter of the golf course luxurious villas with exquisite views of the golf greens will be integrated into the natural landscape. A clubhouse will be situated at the entrance to the championship quality course, offering visitors and residents alike an amazing golf experience. The approximate development value is at AED 3.5 billion (approx.

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