Trojan General bags $354m Aldar contract for Water’s Edge project
Aldar Properties has appointed Trojan General Contracting as the main contractor for its $653.4m (AED2.4bn) Water’s Edge development on Yas Island
Aldar Properties has appointed Trojan General Contracting as the main contractor for its $653.4m (AED2.4bn) Water’s Edge development on Yas Island.
According to the Abu Dhabi-based property developer, the awarding of the $353.9m (AED1.3bn) main contract follows the awarding of the early works package to Dutch Foundation, which commenced work on site in February this year.
A master-planned waterfront project, Water’s Edge comprises studios, and one-, two-, and three-bedroom apartments.
Its amenities include a waterfront promenade with a number of dining and retail facilities. It also features private courtyards with landscaped areas, pools, multipurpose courts, and a mosque.
The development lies adjacent to the upcoming Sea World theme park, and a five-minute walk from Yas Mall, Ferrari World, and the Yas Marina Circuit.
Aldar recently announced that it has established a joint venture (JV) worth $8.1bn (AED30bn) with Dubai's Emaar Properties.
The JV will initially focus on two projects – one each in Dubai and Abu Dhabi, and its $8.1bn pipeline will also include national and international projects.