UAE’s Aldar awards $203m contract for The Bridges on Reem Island
The $202.9m contract was awarded to Construction Group Contracting House (CGCH) and covers the construction of six apartment towers
Abu Dhabi’s Aldar Properties has awarded the main contract for The Bridges, a mid-market residential development on Reem Island, to Construction Group Contracting House (CGCH).
The $202.9m (AED745m) contract covers the construction of six apartment towers, comprising 1,272 apartments that range from studios to three-bedroom units.
According to Aldar, the apartments are expected to be ready for delivery in Q1 2020.
Valued at $350m (AED1.3bn), the development features two indoor gymnasiums, a private courtyard with swimming pools, and an outdoor fitness area, among other amenities.
Commenting on the awarding of the main contract, Talal Al Dhiyebi, chief development officer at Aldar, said: "The Bridges has been extremely well received, which clearly demonstrates the demand that exists for mid-market developments in desirable locations.
“We are pleased to award the main contract for The Bridges to support our continued focus on quality and timely completion for our customers. This brings us a step closer to meeting the growing demand for this type of development and further expanding the appeal of real estate in Abu Dhabi.”
The Bridges consists of two plots that are separated by a 2.4km canal that runs through Reem Island.