Press Release

Sunday 6th May, 2007

ALDAR agrees partnership with the Royal Institution of Chartered Surveyors - Abu Dhabi's leading developer signs Memorandum of Understanding to maintain elevated levels of professionalism

ALDAR Properties PJSC, Abu Dhabi's fully integrated and leading developer has announced that it has signed a crucial Memorandum of Understanding with the Royal Institution of Chartered Surveyors. The agreement has been signed with the express intention of maintaining high standards of professionalism within ALDAR and the wider construction & development industry in Abu Dhabi.

The recently signed agreement comes after initial discussions in October 2006 between ALDAR chiefs and the Royal Institution of Chartered Surveyors' Head of Operations. The agreement has been designed to pursue the mutually beneficial routes of official recognition and membership promotion of the Royal Institution of Chartered Surveyors.

"The signing of the Memorandum of Understanding with the Royal Institution of Chartered Surveyors is further evidence of ALDAR's benchmark position in Abu Dhabi and the UAE. ALDAR aims to continuously improve and through the official recognition given to us by the institution, we will be able to further improve our already elevated standards. Through promotion and the subsequent increase in membership, ALDAR also intends to ensure the continuous improvement of industry standards throughout Abu Dhabi," said Ronald Barrott, CEO, ALDAR.

With 136 years of representing property professionalism and over 130,000 members across 120 countries, the Royal Institution of Chartered Surveyors, more commonly known as RICS, is the most respected global standards organisation for professionals involved in land, property, construction and environmental issues. RICS has a number of specific remits it strives to achieve across the globe, which include the maintenance of high industry standards through education and training.

RICS' recognition of ALDAR Properties and its developments means that Abu Dhabi's leading developer can actively promote membership amongst UAE nationals. This is a prestigious task for ALDAR considering the need for increased exposure that the standards organisation requires in the region.

"Our practices ensure world-class quality in every area so this is an important step for Abu Dhabi. RICS recognizes ALDAR's commitment to the highest standards and it is with great pride that we have signed this Memorandum of Understanding," said Simon Bowen, Global Education Markets Manager for the Royal Institute of Chartered Surveyors.

ALDAR will work closely with the RICS to organize Continuing Professional Development events in Abu Dhabi to ensure that members and interested parties have access to the learning opportunities that are essential to both organisations.
Meanwhile, RICS will hold its Harmonisation Conference in Abu Dhabi for the first time from May 5th – 7th 2007. International Assessor Trainers from RICS will be attending this event which promotes and ensures consistency of member standards as they enter the profession.