Press Release

Wednesday 31st August, 2005

ALDAR welcomes Expatriate investors to forthcoming Al Raha Beach Development

"First of Many Real Estate Ownership Opportunities"

ALDAR Properties PJSC has welcomed new Abu Dhabi decision, announced yesterday, which specifies initial real estate investment areas where expatriates can invest within the Emirate.

One principal investment area is ALDAR's substantial Al Raha Beach Development – the iconic new shoreline city that will become the future gateway to Abu Dhabi, with over 120,000 inhabitants.

ALDAR Chairman Ahmed Ali Al Sayegh said yesterday: "Decision 23 issued by HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Executive Council, will enable us to sell select local real estate to international as well as national investors."

"The decision in favour of our Al Raha Beach Development enables us to swiftly gear up for international sales interest – I believe that it is only the first of many real estate ownership opportunities that ALDAR will offer to worldwide property buyers in the future."