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AGM Statement

Source:  www.zawya.com

The shareholders of Aldar Properties PJSC held the Company’s Annual General Meeting at the Yas Hotel in Abu Dhabi earlier this afternoon.

Al DanaDuring the meeting, all agenda items were approved including the report of the Board of Directors on the Company’s activities and its financial position for the year ended 31 December 2010.

The shareholders also elected the new board of directors of the Company for a term of three years. Made up of seven members, the elected board brings a range of specialist skills that will benefit the Company in the coming years.

Following the Annual General Meeting, a board meeting was convened during which Mr. Ali Eid Al Mehairi was elected as the new Chairman of Aldar Properties PJSC.

A UAE national, Mr. Al Mehairi is the head of Mubadala Infrastructure, a Business Unit of Mubadala Development Company. He has served on the Board of Aldar Properties for the last 3 years and is the Chairman of Abu Dhabi Finance Company PJSC, Emirates Ship Investment Company LLC and Khadamat Facilities Management LLC.

Mr. Al Mehairi also serves on the Boards of Al Hikma Development Company PJSC, Abu Dhabi Health Services Company PJSC and Emirates Palace PJSC. He holds an MBA in Finance and BSc in Accountancy from the American University, USA.

Mr. Ali Eid Al Mehairi, the new Chairman of Aldar Properties PJSC, said: “On behalf of the new board, I would like to take this opportunity to thank the departing board members who have served the company since February 2008.

In particular, we would like to pay special thanks to Mr. Ahmed Ali Al Sayegh who has lead the company with distinction since 2005 and played a fundamental role in Aldar‘s creation and development.”

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