PRESS RELEASE

ALDAR ACQUIRES AED 3.7 BILLION OF ASSETS FROM TDIC

Aldar’s entry into will further accelerate the development of one of the region’s most sought after destinations

• One of the largest real estate acquisitions in the history of the UAE

• Further strengthens Aldar’s position as ’s leading real estate investment company

Abu Dhabi, 7 May 2018: Aldar Properties PJSC (“Aldar”), Abu Dhabi’s leading listed property development, investment and management company, is pleased to announce that it has reached agreement with Tourism Development & Investment Company (“TDIC”) to acquire a portfolio of prime real estate assets worth AED 3.7 billion, in one of the largest real estate acquisitions in the country’s history.

Aldar has acquired assets located in key destinations, with a focus on Saadiyat Island. This comprises of 14 operating assets within various sectors ranging from hospitality, retail, residential, education and infrastructure, in addition to a selection of prime strategic land plots and projects under development on Saadiyat Island.

Talal Al Dhiyebi, Chief Executive Officer of Aldar Properties, commented: “Acquiring assets on Saadiyat Island presents Aldar with an unprecedented opportunity to add significant value to its portfolio. The opening of the has demonstrated the government’s commitment to make Saadiyat Island one of the most sought after destinations in the world. We believe this landmark acquisition will further advance Abu Dhabi’s real estate sector and accelerate the development of Saadiyat Island, taking it to the next level. This is a very exciting time for the market, and as its leading player, we’re well placed to take advantage, with the injection of these new assets representing a strong addition to our impressive portfolio.”

Saadiyat Island is commonly regarded as the jewel in the crown of Abu Dhabi’s real estate portfolio, and one of the most coveted in the entire Arabian Gulf. With long stretches of prime beach, and with iconic beachfront hotels, as well as high quality beach villas and apartments, Saadiyat Island has for some time been the destination of choice for many discerning residents and visitors.

The value of Saadiyat Island was more recently reinforced by the opening last year of the Louvre Abu Dhabi, to much international acclaim; and with Saadiyat Island’s cultural district to be extended further through the development in the coming years of the and , the growth opportunities on offer are very clear.

The acquisition of TDIC’s operating assets will thus enhance Aldar’s high-quality asset management business with an additional stream of recurring revenue in line with its growth investment plan. The acquisition of the land and projects under development will form part of Aldar’s development destination strategy. The acquisition will immediately positively contribute to the performance of both the Development and Asset Management business in 2018 and beyond.

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The operating assets being acquired include Eastern Mangroves complex, Saadiyat Island district cooling assets, Cranleigh School Abu Dhabi, Westin Golf & Spa and other community retail and leisure assets, and will deliver an incremental net operating income of approximately AED 120 million to Aldar’s Asset Management portfolio on an annualised basis. The gross development value of the projects under development on Saadiyat Island is AED 2.5 billion. The land being acquired is located on Saadiyat Island, is infrastructure enabled and includes approximately 1.1 million sqm gross floor area.

The acquisition is expected to fully complete by end of June 2018 and it is subject to fulfillment of certain conditions.

-ENDS-

For further information, please contact:

Investors: Media: Chris Wilson Nick Farmer / Obaid Al Yammahi Amy Piek Aldar Properties Aldar Properties Hanover Communications +971 2 810 5624 +971 2 810 5555 +971 55 459 3260

For more information on Aldar please visit www.aldar.com or follow us on:

About Aldar

Aldar Properties PJSC is the leading real estate developer in Abu Dhabi with USD10 billion in assets, a 75 million sq. m land bank, and through its iconic developments, it is one of the most well known in the , and wider Middle East region.

From its beginnings in 2005 through to today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital City in addition to other key areas of the Emirate.

Aldar develops exciting and innovative projects, such as the internationally recognized HQ building situated in the Beach development, the Gate Towers in Shams Abu Dhabi on , in addition to ’s F1 circuit.

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Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH),. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.

Aldar seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirate. Aldar is playing a leading role in the development and provision of world class retail - Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire portfolio.

Aldar is driven by a vision to be the most trusted and recognized real estate lifestyle developer in Abu Dhabi and beyond. www.aldar.com