Press Release Press Release Press Release Press Release Press Release Press Release Press Release Press Release
For Immediate Release
16 April 2008
ALDAR Celebrates the First Female UAE National to Qualify for Membership of RICS
Abu Dhabi, United Arab Emirate, 4 May 2008 – ALDAR Properties, the renowned Abu Dhabi-based international property developer has announced that more members of its team have won membership of RICS (Royal Institution of Chartered Surveyors). Among the recent qualifiers is the first female and first UAE National, Wafa Al Hammadi.
In 2007, ALDAR and the RICS UAE developed a collaborative approach to underpin professional standards in ALDAR’s business using the RICS standards within working practices and also to increase and promote membership within the eligible workforce.
The RICS is the largest organization for professionals in property, land, construction and related environment issues world-wide. The institution sets, maintains, and
regulates the highest educational and professional standards for the benefit of business, industry and the public. "We are proud to see 11 further employees of ALDAR gain RICS membership in such a relatively short time period, which is unprecedented in the region. We also have gained the status of having the first UAE national achieve membership. ALDAR is very proud of Wafa Al Hammadi's tremendous achievement; she has worked hard to receive this qualification" commented Ahmed Ali Al Sayegh, Chairman, ALDAR Properties.
"The RICS prides itself on maintaining very high professional standards across the international property industry. To become a member of RICS, Wafa Al Hammadi has demonstrated both academic and technical competencies as well as an understanding of maintaining professional standards. We are delighted to have
these individuals qualifying for memberships, and are proud to have among them the
first female UAE national," commented Alan England Regional Development Manager Africa, India and Middle East RICS.
"ALDAR and RICS UAE have worked in tandem to build a quality standard that is abiding to international levels and applicable to this region. The RICS qualification is recognised internationally and reflects ALDAR’s mission to deliver international best practices across its various business sectors," concluded Ronald S. Barrott, CEO, ALDAR Properties.
- Ends About ALDAR Properties:
About ALDAR Properties, PJSC: ALDAR Properties PJSC is a premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. ALDAR was created to spearhead developments of Abu Dhabi’s strategic sites was created to fast track real estate investment opportunities within Abu Dhabi and the Emirates in order to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE. Since its inception in 2004 through a share offer (IPO) of AED 1.5 billion (USD 408 million) on the Abu Dhabi Securities Market, ALDAR has already announced more than USD 65 billion worth of developments. The ALDAR issue, the largest IPO in the history of the UAE at the time, was 448 times oversubscribed and raised an unprecedented AED 373 billion (USD 102 Billion) in demand. ALDAR’s market capitalization is USD 3.5 billion as of May 30th 2007. Total retail area across all developments is currently over 1.5 million square meters. The company is owned by leading Abu Dhabi institutions, founder shareholders and individual investors. The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, and the YAS Island project which is to include a Warner Bros and a Ferrari theme park. ALDAR’s first international expansion was announced in August 2007 via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia. This was followed in October 2007 with plans announced to build a mixed-use development in Kazakhstan. In 2008, ALDAR emerged as the winner by Euromoney Magazine which awarded ALDAR with “Sukuk Issue of the Year” for 2007. Islamic Finance News also announced ALDAR Properties as the winner of two of its prestigious awards for 2007: “Best Mudarabah Deal” and “Best Real Estate Deal.”
About RICS
RICS (Royal Institution of Chartered Surveyors) is the leading organisation of its kind in the world for professionals in property, land, construction and related
environmental issues. As part of their role they help to set, maintain and regulate standards – as well as providing impartial advice to Governments and policymakers. RICS has 140,000 members who operate out of 146 countries, supported by an extensive network of regional offices located in every continent around the world. To ensure that their members are able to provide the quality of advice and level of integrity required by the market, RICS qualifications are only awarded to individuals who meet the most rigorous requirements for both education and experience and who are prepared to maintain high standards in the public interest. The RICS established a full time presence serving the property profession of the UAE in June of this year.
For more information, please contact: Name: Shali Akkaraju Buchanan Middle East Tel: +971 (0) 4 369 8559 Mobile: +971 (0) 50 250 5410 Email: vyshali.akkaraju@buchananme.com