AED 7.44 billion worth of real estate projects executed by Al Dar in Abu Dhabi

Abu Dhabi 30-07-2019
ALDAR has set up 16 contracts worth AED 4 billion for design, supervision, construction and contracting companies to start construction work on five major projects in Abu Dhabi worth more than AED 7.44 billion, which will strengthen Abu Dhabi as one of the best places in the world to practice. Business, investment, living and tourism.
In the following report, WAM will monitor projects worth AED 10 billion to be implemented by ALDAR during the current year and are located in Abu Dhabi, Saadiyat, Yas, Al Falah, Shamkha and Reem Island, Residential and business centers in Abu Dhabi.
The Abu Dhabi Government has commissioned ALDAR Properties to complete the development of Saadiyat Island’s main infrastructure and public facilities at a cost of AED 2 billion and to expand the Al Falah development, an integrated residential neighborhood designed to suit the tastes and requirements of UAE nationals. Which includes 4,898 villas worth 2 billion dirhams and the development of twofour54 new headquarters on Yas Island at a cost of AED 1 billion.
Aldar Properties is developing a two-billion-dirham Al Rayman investment project located in Al Shamkha, close to Abu Dhabi International Airport and the main highways. The multi-use mid-income project offers residential and commercial plots for sale to all nationalities as well as the development of its residential project Rehabilitating Al Reem Island for AED 440 million, then the Yas Island land project in Yas Island and the AED2.7 billion Al Rayman 2 project.
In July, Aldar set up 14 contracts with a total value of AED 3 billion for design, supervision, construction and contracting companies to start construction work on three mega projects in Abu Dhabi worth AED 5 billion, commissioned by the Government of Abu Dhabi, Al Dar has set up a AED 794 million contract for Traistar Engineering and Construction to be the main contractor for the Al Rayman project, as well as a AED 220 million contract on the Phybrix Construction Group for Reflex Construction “S. Kenny.
These projects are part of ALDAR’s successful strategy of developing exceptional destinations and expanding into new areas in Abu Dhabi as well as meeting the demand for middle income projects and the market need for distinctive residential complexes with a wide range of facilities and services.
The launch of the new projects reflects an improvement in the real estate market in Abu Dhabi, supported by high demand, especially for middle income residents. The large real estate projects also reflect Abu Dhabi’s strong economic growth.
ALDAR continues to make progress in the development of all its development projects on Yas Island. The construction of villas and 652 Townhouse units launched within the luxury residential project is underway at Yas Island. All 13 buildings where concrete floors are being laid for different floors in parallel with the construction of the walls. In the Mayan residential project, all concrete work has been completed in all parts of the project. Wall construction is nearing completion, And Stand in all project buildings.
On Saadiyat Island construction work was completed to a large extent in the “Saadiyat Walk” project. Finishing work is underway and the installation of the transport system is nearing completion.
The construction of the Jawahar Al Saadiyat project, which consists of Townhouse and Villa units, is progressing towards its delivery ahead of schedule during the year. The work of woodwork, decorations and interior finishes has entered its final stages.
On Al Reem Island, the construction of the Bridges project, consisting of six buildings and 1,272 residential units, is underway. Concrete works were completed in the first phase of the project / buildings 1-3 / in February 2019. They are currently under construction at the main façade, The completion of the finishing works will be completed while the main construction works in the second phase of the project / buildings 4-6 / will be completed and the project is expected to be delivered according to the schedule.
At Al Ghadeer, the innovative destination of Aldar Properties, which is dedicated to the principles of sustainable living, drilling is nearing completion, with significant progress being made in laying the foundations, building waterproofing systems and other equipment.