Abu Dhabi Municipality Awards Al Jaber Group the Infrastructure Contract for Bawabat Al Sharq Project

2010-12-15

AED 205 million contract for full infrastructure package

Abu Dhabi, December 14, 2010 – Abu Dhabi Municipality awarded Al Jaber Group the AED 205 million Infrastructure contract for the 3 phases of Bawabat Al Sharq project. The project is being developed by Baniyas Investment & Development Company, the investment arm of Baniyas Sports Club. Bawabat Al Sharq is a master community located in Bani Yas City at near proximity to the Abu Dhabi International Airport on the road to Al Ain.

Al Jaber Group will be responsible for executing all the infrastructure works of the project including road works, services, electrical network, water network, sewage network, drainage network, landscape, etc. Infrastructure works on Bawabat Al Sharq have already started and will be completed in June 2012. Al Jaber Group assigned more than 450 employees to this prestigious project supported by a fleet of equipment to ensure smooth operations and execution.baniyas

H.E. Obeid Khaleefa Jaber Al Murri, Chairman of Al Jaber Group said, “We are very pleased to be the selected contractor for the infrastructure work of Bawabat Al Sharq project. We have a great relationship with Abu Dhabi Municipality, Baniyas Investment & Development Company and Baniyas Sports Club; this project will cement this relationship further”.

“Al Jaber Group is a leader in the infrastructure and contracting sectors in the UAE and the region, and our selection for the Bawabat Al Sharq project will further enhance our image and reputation to be the contractor of choice for major clients with outstanding projects”. He added.

In his comments, Wael Tawil, Chief Executive Officer of BID, said, “We made sure that Bawabat Al Sharq was developed by the best and most prominent contractors in the region and awarding the project’s infrastructure contract to Al Jaber Group will guarantee a superior quality of execution and timely delivery.. We are extremely happy with our project’s progress and we look forward to handing over the first phase – which includes villas and apartments – to their owners as soon as the infrastructure works of phase I are completed.”

Spreading over 108 hectares in Baniyas City, the 3 Billion AED Bawabat Al Sharq project is an ideal mix of modern residential, retail, entertainment and sporting facilities. The project comprises premium apartments, villas, health care facilities, an international school, a FIFA standard football stadium with a seating capacity of more than 20,000 spectators and a distinctive mall that will include 339 high profile retail outlets of fashion wear, electronics, neighbourhood services, accessory outlets, jewellers in addition to a Carrefour hypermarket, WANASA Family Entertainment Centre and Grand Cinemas. The Bawabat Al Sharq Mall will also feature Souk Al Megnas, a distinctive traditional souk covering 4500 square meters.

Al Jaber Group Overview

Al Jaber Group (AJC) is a privately owned diversified group of companies whose success is based on sustainable growth and diversification. The strength of the Group’s performance is based on its ability to utilize the synergies between the Group companies to support and complement each other, and to manage risk through diversification and strong management.

AJC was established in 1970 and today is a market leader, the Group is the largest private sector employer in the UAE with 55,000 employees and boasts the largest fleet of vessels, cranes, equipment and machinery in the UAE

The United Arab Emirates (UAE) and Qatar have historically been the principal markets for AJC’s business activities with well-established and long-standing relationships with government, semi-government and private sector clients. However, due to the Group’s diversified nature, it also has exposure to export markets all over the world and particularly in the GCC and the Far East.

About Baniyas Investment and Development

Baniyas Investment & Development Company was established in 2005 as a majority owned subsidiary of Bani Yas Sports Club. It is the investment and development arm of the Bani Yas Club with its main activities focusing on investment, development and management of real estate projects. Aiming to play a pivotal role in contributing to real estate development, Baniyas adheres to the highest standards of integrity in its business dealings. Currently, the company has an impressive pipeline of opportunities and projects including master planned communities, residential and commercial towers in the UAE, with Bawabat Al Sharq representing the first of several pioneering plans to be publicized by Baniyas in due time. Bawabat Al Sharq will elevate the leisure, commercial and tourism appeal of Bani Yas.

For further information, please contact

Muriel Farah, Baniyas Investment & Development, Abu Dhabi

Tel: +97150-667 5488; E-mail: mfarah@baniyas.ae

Maya Kheshen, Baniyas Investment & Development, Abu Dhabi

Tel: +97150-294 0472; E-mail: mkheshen@baniyas.ae