Aldar Invests AED250 Million In New Reem Central Park On Reem Island As Part Of Its Corporate Social Responsibility Programme

Abu Dhabi - UAE, April 19, 2017: Aldar Properties PJSC ('Aldar'), Abu Dhabi's leading listed property development, investment and management company, has announced plans for its new AED250 million, 1,000,000 square foot public park on Reem Island, Reem Central Park. The park will be completed in 2018.

Situated in the heart of its master planned community on Reem Island, Aldar is reinventing the park experience in Abu Dhabi, featuring a 2,000 worshippers' mosque with serene reflective pool, F&B outlets, retail centre, a skate park, play areas, and interactive water features throughout. Reem Central Park offers a modern space in the capital for shopping, entertainment and leisure. In supporting Emirati entrepreneurship, Aldar will allocate a dedicated space within the park's retail offer to local businesses.

H.E Mohamed Khalifa Al Mubarak, Chief Executive Officer, Aldar Properties PJSC said: "We are proud to launch Reem Central Park and create a space that will benefit so many of Abu Dhabi's residents and visitors upon its completion next year. This park fits well within our strategy to create dynamic, amenity driven lifestyle destinations across our landbank in Abu Dhabi. With a retail element that will seamlessly blend a waterfront environment with urban vibrancy, the park will provide yet another leisure and entertainment option for everyone in the area."
Built on tiered levels creating a natural progression from high to low, Reem Central Park will boast a variety of attractions and amenities that lead down to a natural waterfront, including a 4km promenade, providing visitors with edutainment opportunities about the area's natural reserves and plant life.

Aldar yesterday announced the launch of The Bridges, a 1.3 billion dirham mid-market development on Reem Island. The Bridges comprises six towers and 1272 units, with sales having commenced at Cityscape Abu Dhabi. Aldar's master planned community on Reem Island is already home to some of the Company's most iconic developments including Sun & Sky Tower, and the Gate & Arc Towers. It is also the location of Aldar's first mid-market project, Meera, which was successfully launched in June 2015 and is over 90% sold, with construction ongoing.

Reem Island offers significant benefits to residents through its close proximity to the central business district on Al Maryah Island and its connectivity to the centre of Abu Dhabi and other prime destinations within the Emirate.