Gulf Construction Online - Aldar forges ahead with $1.36bn govt projects

Real Estate

Aldar Properties will oversee Abu Dhabi government developments worth $1.36 billion.

Aldar forges ahead with $1.36bn govt projects

01 August 2019

Multiple Abu Dhabi government entities have partnered with Aldar Properties, a leading real estate developer, to deliver social, economic and infrastructure projects worth Dh5 billion ($1.36 billion) across key destinations in the emirate.

Contractors will be appointed immediately to commence works on Saadiyat Island, Yas Island and in Al Falah, which house some of the capital’s most thriving residential communities and commercial destinations.

The Abu Dhabi government has appointed Aldar to complete the remaining infrastructure and public realm works on Saadiyat Island worth Dh2 billion. The project will facilitate further integration of Saadiyat Island into the broader Abu Dhabi metropolitan area with the construction of roads and utilities.

Existing cultural and educational landmarks on the island include Louvre Abu Dhabi, New York University Abu Dhabi, Cranleigh Abu Dhabi, a number of beach resorts and several residential communities.

Aldar has also been appointed by the Abu Dhabi Housing Authority to develop the expansion of Al Falah, a master-planned community developed for UAE nationals. The project will add an additional 899 villas to the existing stock of 4,898 with a total development value of Dh2 billion.

twofour54 has awarded Aldar a Dh1-billion contract to develop its new campus located on Yas Island. This new development will bring a working population of 10,000 to the island through its state-of-the-art facilities, and will play a key role in encouraging further investment into the UAE capital’s thriving media and entertainment industry.

The new campus on Yas Island will further enhance twofour54’s position as the gateway for media companies.

Aldar will appoint contractors for all three projects immediately to ensure that works commence with phased completions starting as early as 2021.

In September 2018, the Abu Dhabi government outlined details of Ghadan 21, its three-year accelerator programme driving economic development, innovation, a key tenet which is to develop infrastructure, including transportation, communication and urban development.