Aldar Properties awards contracts worth Dhs22bn in 2023

UAE’s Aldar Properties awarded 49 contracts worth about $6bn (Dhs22bn) for a series of projects including infrastructure, residential, commercial, and mixed-use developments across Abu Dhabi in 2023.

The contracts were awarded to 36 UAE-based companies with almost 50 per cent of the value – Dhs10.5bn – being recirculated to the local economy, in line with the In-Country Value (ICV) Program, according to the Abu Dhabi Media Office.

The ICV programme is crucial to economic and social development, job creation, and the growth of the national GDP.

The awarded contracts will result in the delivery of villas, townhouses, apartments, offices, retail spaces, schools, and road networks within some of Abu Dhabi’s key locations, including Yas Island, Saadiyat Island, and Al Shamkha.

The property developer said 53 per cent of the contracts were awarded for owned projects, while the remaining 47 per cent are projects being delivered on behalf of the government.

“The value of contracts awarded by Aldar in 2023 is a representation of Abu Dhabi’s ongoing and accelerated development as a destination to live, work, and visit,” said Adel Abdulla Albreiki, CEO at Aldar Projects.

“Once completed, these projects will not only help to meet the demand for new residential options in the capital, but also deliver new office and retail spaces, and make the emirate more connected through a series of infrastructure improvements.”

Aldar advances development in Abu Dhabi

Trojan General Contracting (Trojan) and Arabian Construction Company were awarded a contract to develop the first two phases of Saadiyat Lagoons, while Innovo Build was awarded the third phase.

The three contractors will deliver more than 2,000 residential units at Saadiyat Lagoons. Innovo Build also secured a contract for mixed-use development and infrastructure works at Saadiyat Grove – a retail destination that will sit at the centre of the cultural district.

Furthermore, Fibrex was contracted to develop homes at Yas Park Gate and Yas Park Views. The project includes the development of 849 units, located near the premier leisure and entertainment attractions on the island.

Arabian Construction Company was awarded a contract to develop a Grade A office tower to cater for the growing demand for greater commercial space on Yas Island.

Meanwhile in in the Al Shamkha area, Nurol secured a contract for villa and infrastructure works at Fay Al Reeman II, which will result in the addition of 557 residential units. Aldar also contracted Trojan to build villas and infrastructure at Balghaiylam, a new community for UAE citizens being developed in partnership with the Abu Dhabi Housing Authority.

Aldar said major infrastructure project contracts were awarded to National Projects & Construction, Nael & Bin Harmal Hydroexpert, Noor Al Sahara General Contracting and City Construction General Contractor.

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