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Aldar looking for foreign investment
Abu Dhabi-based Aldar Properties has began a search for foreign investment as part of efforts to secure funding for its projects.
In return for their investment, companies are being offered "customised strategic partnership programmes" to meet "specific requirements".
These will include communication and promotion, access to facilities, branding, hospitality, events and naming rights.
In a statement, the company listed a number of leisure projects that it hopes will attract foreign investors.
Among the list are elements of Al Raha Beach, a residential and commercial development spanning 11km of Abu Dhabi coastline; the Yas Hotel; Yas Marina; and Ferrari World Abu Dhabi.
Aldar's flagship project, Yas Links Golf Course at Yas Island, is also on the list.
The announcement comes as the company also revealed that Khadem Al Qubaisi has resigned from the company's board of directors.
The news does little to alleviate concerns over the slowdown in the United Arab Emirates' (UAE) property sector, which has affected a number of property companies and their developments in the region, especially in neighbouring Dubai where some large projects have been severely delayed.
A spokesperson said: "This is the first time this type of programme on this scale has been created in the UAE.
"The programme will provide commercial partnership opportunities and value-added synergies that create winning relationships for partners and their brands."
The scheme will initially look to secure funding for a selection of Aldar's projects that are either already operational or will be completed by the second quarter of 2011.
Aldar plans to add further developments into the programme in the future as they near completion.
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