Khaleej Times reported that the UAE based Aldar Properties cited it has recently inked a MoU with Cebarco Bahrain SPC of Bahrain for the development of a JV construction company.

The JV will include developments projects on Yas Island including the Warner Bros. Theme Park. The contract was signed by Mr Ronald Stephen Barrot CEO of ALDAR Properties and Mr Khalid MA Rahim CEO of Cebarco Bahrain SPC.

The Yas Island development covers an area of 2500 hectares and is set to become a cornerstone of Abu Dhabi's fast growing tourism industry.

In addition to the Royal Yas Marina racing circuit, the development will consist of Ferrari World Abu Dhabi, a Warner Bros. Theme Park, 5 star and boutique hotels, a water park, over 300,000 square meters of retail space, a links golf course, 7 marinas, restaurants and various entertainment facilities.