Mubadala and MAF Group in joint venture deal

Abu Dhabi, Aug 4, 2008 (WAM) - Mubadala Development Company and Majid Al Futtaim Group have signed a joint venture agreement to develop mixed-use project in Abu Dhabi.

The development will feature a unique shopping mall destination with a galaxy of quality retail outlets, including Carrefour,
innovative leisure concepts, hotels and office space, according to a
statement from Mubadala Development.

The new project will be developed as one of the key elements of the wider
Arzanah project, the high-profile residential development taking shape at
the Grand Mosque District of Abu Dhabi.

Arzanah was recently launched by Capitala, the Abu Dhabi-based real estate
developer and master planner formed through a joint venture between Mubadala
and the Singapore-based CapitaLand. This 1.4 million sq m development
features a pristine waterfront and a lively canal weaving throughout
luxurious high-rise apartment towers and family villas, communal gardens,
and extensive walking and cycling trails.

Arzanah will offer an unequalled blend of retail, leisure and sports,
allowing residents and visitors to discover the perfect setting for work,
recreation and relaxation. The project is scheduled for completion by 2012.