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Aldar & Zabeel plan golf course on Yas Island: Aldar, the Abu Dhabi-based property developer, on Saturday signed a joint venture agreement with Dubai-based Zabeel Investments to develop a links golf course on Yas Island.
The agreement was signed during the Abu Dhabi Golf Championship by Mohammad Ali Al Hashimi, executive chairman of Zabeel Investments, and Ahmad Ali Al Sayegh, chairman of Aldar.
The course designed by Kyle Phillips, one of the world's leading golf course designers, will be built on the west shore of the island.
Ecological Importance
The area is of immense ecological significance and importance to wild-life and sealife. Birds use the marshlands for their migratory routes and the shoreline contains mature coral reefs housing teeming hoards of marine life, including some species that are unique to the region.
"Aldar's projects reflect our aim to create meaningful developments that not only enhance the community, but also respect and maintain what the land has to offer naturally," said Al Sayegh.
"We take great measure in ensuring that our projects are green, because we are aware of what a vital role it plays to the beauty and health of our land and understand that it is our responsibility to do our part in protecting it," he added.
Land Area
The golf course, expected to break ground in May, will cover a total land area of approximately 910,000 square metres. It will only be a few hundred metres from the Ferrari Theme Park.
The project includes luxurious villas and clubhouse will has an approximate development value of Dh3.5 billion.
"Zabeel Investments is delighted to enter into this agreement with Aldar Properties. The development, in the capital city of the UAE, on Yas Island is an exciting endeavour, one that we look forward to seeing come to fruition," said Al Hashimi.
Exhibition: Showcasing Projects
Aldar will showcase its tourism development projects at the first annual Tourism Development Project and Investment Market (TDIM) being held at the Dubai International Convention and Exhibition Centre from January 20-22.
Targeting leading tourism developers, investors, international brands and industry specialists, TDIM showcases the growing role that the Middle East and North Africa region is playing in the world tourism industry. Exhibit space is poised to exceed 19,000 square metres - a major accomplishment for what is the inaugural edition of the show.
"This exhibition offers Aldar an excellent opportunity to meet and network with high-end global investors and developers," saod Ronald Barrott, chief executive of the company. "It also offers us the chance to explore and enter into new partnerships, facilitate investment, knowledge-sharing and networking with all key stakeholders in the tourism market."
Aldar will showcase its YAS Island project, home to a Warner Bros theme park and a Formula One Race Track for the Abu Dhabi Grand Prix, which will be the centre point of a full calendar of motor sport competitions throughout the racing season. At the centre of YAS Island will be the world's first and only Ferrari theme park, which will offer entertainment for all ages.
Via Gulf News
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