Press Release

Sunday 18th May, 2008

ALDAR Inks MoU with ARKAN - ARKAN to become major building material supplier to ALDAR

ALDAR Properties PJSC, the leading integrated property development company, today signed a memorandum of understanding (MoU) with ARKAN Building Materials Company PJSC, for maximising business opportunities and linking their supply chains. The MoU was signed by Ahmed Ali Al Sayegh, Chairman, ALDAR Properties, and Salem bin Mohamed Al Dhaheri, Chairman, ARKAN Building Materials Company.

Under the MoU signed today, both parties agreed to identify means for maximising business opportunities that could be achieved through a strategic alliance whereby ALDAR and ARKAN link their supply chains and ARKAN becomes a major supplier of building materials to ALDAR.  

Ahmed Ali Al Sayegh, Chairman, ALDAR, said: "The MoU we have signed today with ARKAN is in line of ALDAR's commitment to partnering with highly credible suppliers with strong track record for delivery. Through such alliances we can ensure our projects are implemented on time and to the highest quality Standards."

Salem bin Mohamed Al Dhaheri, Chairman, ARKAN, said: "We are pleased to sign this MoU with ALDAR and hope we will be able to develop it into a full-fledged partnership for our mutual benefit. We look forward to contributing to ALDAR projects by securing a proper supply chain that will allow ALDAR to maintain its excellent delivery record."