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Abu Dhabi gov’t, Aldar partner to develop AED 5bn projects

Abu Dhabi gov’t, Aldar partner to develop AED 5bn projects
This move comes in line with the vision of Abu Dhabi
Aldar Properties
ALDAR
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Abu Dhabi - Mubasher: Abu Dhabi Government and Aldar Properties on Wednesday announced collaboration to deliver AED 5 billion social, economic, and infrastructure projects across a number of key destinations in the Emirate.

This move comes in line with the vision of Abu Dhabi aiming to make the emirate one of the most attractive cities for business, investments, work, living, and tourism, according to a press release.

Contractors will be hired immediately to begin works on Saadiyat Island, Yas Island, and in Al Falah, the homes of the capital’s most thriving residential communities and commercial destinations.

The Abu Dhabi Government has appointed Aldar to carry out the remaining infrastructure and public realm works on Saadiyat Island at a cost of AED 2 billion.

The project will integrate more infrastructure facilities of Saadiyat Island into the broader Abu Dhabi metropolitan area with the construction of roads and utilities with the aim to attract further investments into the destination.

Saadiyat Island includes a number of cultural and educational landmarks; Louvre Abu Dhabi, New York University Abu Dhabi, Cranleigh Abu Dhabi, a number of beach resorts, and several residential communities.

Aldar has been also appointed by the Abu Dhabi Housing Authority to take part in the expansion of the master-planned community developed exclusively for UAE nationals, Al Falah.

Al Falah will see new 899 villas to the existing stock of 4,898 with a total development value of AED 2 billion.

Moreover, Aldar has been awarded an AED 1 billion contract from twofour54 to develop their new campus located on Yas Island and this development is expected to bring a working population of 10,000 to the island.

“The new campus to Yas Island, Abu Dhabi’s leading entertainment, leisure and residential destination, will further enhance twofour54’s position as the gateway for media companies to a large diverse audience demanding quality content in all formats,” the release highlighted.

Furthermore, Aldar will hire contractors for all three projects immediately to guarantee that works will commence with phased completions starting early 2021.

In September 2018, the Abu Dhabi Government had unveiled the details of its three-year programme Ghadan 21, which targets boosting economic growth, innovation, ease business and livability in the emirate.