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Shaping Destinations, Together - Al Maabar launches new brand identity during Cityscape Abu Dhabi 2010

Abu Dhabi, 17 April 2010: Al Maabar, one of the region’s most innovative and intelligent real estate developers, will be taking centre stage as Platinum sponsor at Cityscape Abu Dhabi 2010, unveiling its new corporate identity and showcasing the latest updates of its well-considered, dynamic global investment projects.

Now established for over two years, Al Maabar already has a reputation for creating real excitement in the global real estate market with milestones being met on time and within budget.  In addition to ongoing building works in Libya and Morocco, groundbreaking of the USD 10-billion, exquisitely master-planned waterfront mega-development, Marsa Zayed in Jordan, will be announced imminently, along with new projects being explored for 2011 and beyond.

During Cityscape Abu Dhabi 2010, Al Maabar will also launch its new corporate identity that brings to life the company’s vision of shaping contemporary yet authentic destinations across the globe by partnering with local governments, communities and developers within the framework of a modern forward-thinking business model.

The new brand strategy looks to further develop Al Maabar’s distinguished reputation abroad, while cementing its position as the face of Abu Dhabi in the international real estate arena and as a driving force in the economic diversification sought for within the Abu Dhabi 2030 Vision.  Buoyed by the sound reputation of the Emirate and the support of the six leading real estate and investment powerhouses within it, Al Maabar is exporting a wealth of expertise and experience beyond the borders to implement positive change.

Mr. Yousef M. Al Nowais, Al Maabar Managing Director, commented, “We are proud to be a key sponsor of Cityscape Abu Dhabi 2010 which is a testament to the strength of Abu Dhabi’s cultural and financial position in a challenging global marketplace.”

“Al Maabar derives its strategies and success from the heritage, culture and values of Abu Dhabi which sets us apart as a leading partner for growth; an impressive feat during the current economic climate.  It is immensely rewarding to see building already in progress in Libya and Morocco; intelligent developments based on economically-viable and sustainable platforms which will ignite the economic potential of these countries for commercial partners and local communities alike. In 2010, I look forward to seeing our Jordan projects move into the next stages of development, and also announcing new and globally important projects.”

The new Al Maabar website, www.almaabar.com, brings to life the new brand strategy, showcases the considerable milestones already achieved and reaches out to new potential investors across the world. Al Maabar continues to value further opportunities for providing more creative, efficient and beneficial solutions to their current host countries, and in new markets and regions.  Whether through joint venture, as in Morocco and Libya, or through full ownership such as in Jordan, Al Maabar operates alongside visionary leadership from governments, plus world renowned experts in design and construction to drive the success of every project undertaken.

Project Updates

Marsa Zayed, Jordan

Al Maabar will soon be announcing the ground-breaking of its USD 10-billion, exquisitely master-planned waterfront mega development, Marsa Zayed in Jordan. It is the biggest real estate and tourism project to take place in Jordan’s history and is expected to create 15,000 job opportunities. The project exemplifies a robust business plan, based on a considered approach to all projects to ensure minimal risk and full leverage of profit opportunities, and for maximum rates of return on all of our developments. The first phase of Marsa Zayed is set to be completed by 2014.  The remaining phases will be completed over a period of 30 years.

Bab Al Bahr, Morocco

Bab Al Bahr is iconic mixed-use destination located in Rabat, Morocco. The project, which is being developed by Al Maabar in partnership with L’Agence pour l’Amenagement de la Vallee du Bouregreg, includes high-end residential, retail and hospitality components. The development also contains several museums and a carefully landscaped green spine which spans the length of the development. Encompassing the Moroccan government’s vision to redevelop the entire Bouregreg Valley where the river meets the Atlantic Ocean, the USD800 million project will occupy a primary location encapsulating of the archaeological treasure and local heritage sites. While striving to safeguard the heritage and original architecture of the area, Al Maabar has exceeded expectations on the commercial level, with over 40% of the Bab Al Bahr residential units open for sales last February already having been sold.

Al Waha, Libya

With the needs of the local market in mind, and by taking inspiration from Libya’s rich cultural heritage, Al Maabar is developing its USD375 million mixed-use development in Tripoli, Libya. The project is a 50/50 JV between Al Maabar and LIDCO and includes commercial, hospitality, retail and residential components. The masterplan reflects certain elements intrinsic to Libyan culture, such Ghadamis, an ancient oasis town located in West Libya, the artistic mosaic style covering the outer façade of The Towers and Libya’s oases, dramatically recreated in the form of idyllic water features and lush verdant surroundings. The project’s residential, retail, hospitality and entertainment units will be operational by 2012, accommodating approximately 6000 people to work and live inside the community.

Abdoun, Jordan

Al Maabar has announced the planning of its new Jordanian project in the capital Amman. The multi-use Abdoun project is set to become a fashionable, luxurious and contemporary ‘must-visit’ landmark destination in Amman, with high-end shopping centres, world renowned restaurants and exclusive leisure facilities. Planned for completion in 2013, Abdoun Project will include a luxurious hotel, residential apartments equipped with high level services, and retail areas set for leasing in addition to educational and financial services. Construction is planned to commence by mid-2010.