Aldar works with Rebound Ltd. to increase recycling rates within its communities and destinations it operates

· “Rebound Ltd. is a global trading platform for quality assured plastics

· The partnership is in line with Aldar’s plan to achieve net zero emissions and improve waste management levels across its value chain

· Under the partnership, the recycled plastics from Aldar’s operating communities and destinations will be collected and sold via the Rebound Plastics Exchange platform, and the profits from the sale will be used to reduce service costs.

Abu Dhabi, UAE: “Aldar Properties” (“Aldar”) has signed a memorandum of understanding with “Rebound Ltd.”, the global digital platform for the trading of recycled plastic materials between companies, with the aim of increasing plastic waste recycling rates in Aldar’s communities and destinations. raise, and collect it for sale through the “Aldar” platform. Rebound Plastic Exchange. Aldar will use the sales profits to reduce service costs.

Through this collaboration, Aldar will work with Rebound Ltd., a subsidiary company established by the International Holding Company in December 2021, to develop a scalable model for collecting recyclable plastic waste from Aldar communities and the destinations it manages , provided the project starts on a pilot basis On Saadiyat Island.

Jonathan Emery, CEO of Aldar Development, said: “We are launching initiatives that align with our commitment to achieving net zero emissions across our business and help reduce negative environmental impact within the communities we develop and the destinations we manage , waste reduction and recycling is an essential part of our This is our plan, so we look forward to expanding the scope of our positive environmental impact through our collaboration with Rebound Ltd. and motivating our customers to be more responsible to be against the waste they produce.”

The two parties will work with a variety of stakeholders in their businesses in the UAE, including relevant government agencies, to establish the necessary infrastructure for the plastic collection program, motivate community members to participate, and generate useful supplies of recyclable plastic that can be traded via the Rebound Plastic Exchange platform. “. If the program is successful, it will be implemented in other communities owned and operated by the home.

This partnership highlights the economic value of a useful, versatile commodity like plastic, which is thrown away as a form of waste rather than properly managed. Because families and communities are the key to stopping and reversing waste on our planet, the importance of waste reduction, reuse and recycling must be instilled in them.

The Rebound Plastics Exchange platform was thus able to gain trust and distinction for adopting a world-class protocol for the approval of plastic materials, stimulating the introduction of more recycling efforts across various fields. As recycling is the foundation and mission of Rebound, it adopts a strategic pillar based on the development of sustainable solutions for people and the planet, by establishing unified standards for the sector, issuing certification for plastics and quality assurance supply. This ultimately leads to positive economic impact on the recycling industry, helps to empower local communities and reduces the repercussions of plastic pollution.

For her part, Maryam Al Mansouri, General Manager of Rebound Ltd., said: “We are fast approaching 2030, as we only have seven years left to meet global requirements in terms of reducing carbon emissions. Therefore, we need to implement solutions that achieve net zero emissions effectively Instead of wasting time with inefficient solutions As a result of our focus on recycling, more companies are using us to provide them with a set of unified standards to improve their ability to adopt and trade, as well as provide them with specific frameworks to facilitate the handling of plastics, and highlight the tangible benefits that can be achieved through the transparent and reliable trading of plastics. We look forward to this new journey with Aldar take on and make a positive impact in the communities it serves in Abu Dhabi.”

Aldar recently announced its commitment to become a carbon neutral company by achieving net zero emissions, including the entire life cycle of its value chain. In this context, Aldar has committed to improving waste management throughout the design, construction and use of its real estate assets, prioritizing the avoidance of waste generation, increasing levels of greywater recycling and supporting the local waste sector.

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Media communication:

Obaid Al Yamahi

Aldar Property Company

+971 2 810 5555

Sarah Abdel Bary

Brunswick Golf

+971 4 560 9638

ALDAR@brunswickgroup.com

About Aldar Company

Aldar is a leading property development and management company in the UAE, with a diversified and sustainable operating model supported by two core businesses, Aldar Development and Aldar Investments.

Aldar Development Company continues its leading role in developing integrated communities that enrich the lives of residents across the most sought-after destinations in the Emirate of Abu Dhabi, including Yas Island, Saadiyat Island, Al Raha Beach and Al Reem- island. It also owns a land portfolio of 69 million square metres, comprising three business units: Aldar Projects, the project execution arm responsible for managing the fee-based project management business unit; Al Dar Al Riyada, which seizes new business opportunities and develops areas of innovation; and “Aldar Misr”, a platform that focuses on the promising and profitable Egyptian real estate market, as a major market for the development of integrated mixed-use communities.

Aldar Investments is the asset management unit of the Aldar Group, which includes a portfolio of 30 billion dirhams of real estate assets generating recurring income in the retail, residential, commercial, hotel and logistics assets. Aldar Logistics Assets owns a 70% interest in the Abu Dhabi Business Forum complex, which owns a complex of warehouses, offices and industrial facilities strategically located in the Industrial City of Abu Dhabi (ICAD), with a net leasable area of ​​approximately 166,000 square meters. Aldar Investments also manages the three main platforms: Aldar Education, Aldar Properties and Aldar Hospitality and Entertainment.

The “Al Dar Education” platform includes a portfolio of educational assets that include approximately 33,000 students in 28 schools operated and managed by “Al Dar Education”, in addition to a growing network of 3,000 teachers serving more than 100 nationalities belong, and it accepts a wide range of educational curricula and additional services Like a teacher training academy.

While “Aldar Properties” integrates commercial and residential property operations within the portfolio of “Provis”, which specializes in property management, and also includes community management through an integrated property management platform. The Aldar Hospitality and Leisure Company is responsible for overseeing the hotel and leisure asset portfolio of Aldar, which is primarily located on Yas Island and Saadiyat Island, in addition to Ras Al Khaimah. Aldar’s hotel portfolio includes 13 hotels, with a total of 4,250 hotel rooms, in addition to managing operations across golf courses, beach clubs and marinas.

Aldar shares are listed on the Abu Dhabi Securities Exchange (trading symbol ALDAR: UHThe company’s business achieves stable recurring profits and revenues, and it has a broad and diversified shareholder base. Aldar accepts the best standards of corporate governance, and is committed to managing sustainable operations in the long term, in order to achieve continuous added value for its shareholders.

Aldar adopts an ambitious vision as it aims to be the most trusted developer and property manager in the region, playing a pivotal role in the development of high-quality and convenient destinations that meet the needs of community members and across the necessary ingredients and abilities available for work, living and entertainment.

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