Abu Dhabi's Aldar awards main contract for $2.7bn Alghadeer
Al Rakha will work as main contractor for select infra buildings and early works through a $91m deal
Abu Dhabi-listed Aldar Properties has awarded a main construction contract for its “sustainable destination”, Alghadeer, to Al Rakha Contracting and General Transport. Al Rakha will work as main contractor for the infrastructure buildings and early works package, which relates to the first neighbourhood of the $2.7bn (AED10bn) Alghadeer’s Phase 2.
Worth $91.2m (AED335m), the contract covers the construction of 707 maisonettes, townhouses, and villas, all of which will be preceded by site preparation work. Located in the northwest section of the masterplan, the neighbourhood is part of Alghadeer’s wider design that includes 14,000 homes, commercial properties, cultural and institutional amenities, and entertainment attractions. These elements will be built over a 15-year period.
Since Alghadeer’s launch in April 2018, Aldar has announced two plot sales within the megaproject, which will feature additional community amenities such as a British curriculum school, a Lulu-branded supermarket, and a clinic.
Commenting on Al Rakha’s contract, Aldar chief executive officer, Talal Al Dhiyebi, said: “From its location at the centre of the UAE, Alghadeer offers residents a peaceful community with sustainable living initiatives within close proximity to both Abu Dhabi and Dubai.
“We have seen solid interest in Alghadeer which expands our successful destination-led strategy to new areas of the emirate,” he continued, according to WAM.
The multibillion-dollar Alghadeer is the centrepiece of Aldar’s future development strategy, and is located close to Seih Al Sdeireh, where the world’s first commercial hyperloop system will begin to take shape in 2019.
This October, Aldar’s executive director for commercial activities told Construction Week that Abu Dhabi’s ongoing industrialisation efforts would play “an important role” in demand for Alghadeer’s property units.
“Adnoc is investing heavily in building the world’s largest integrated refining and petrochemical hubs,” Maan Al Awlaqi said at Cityscape Global 2018.
“That’s going to bring about 15,000 employees into the country while adding roughly 1% to the UAE’s gross domestic product by 2025. So, the workforce coming off the back of this industrialisation strategy will need places to live,” he added.