Abu Dhabi Government picks Aldar to deliver $1.4bn projects
Aldar will 'immediately' appoint contractors for the projects at Saadiyat Island, Two Four 54, and Al Falah
Abu Dhabi-listed developer Aldar Properties will appoint contractors “immediately” to deliver various projects worth $1.4bn (AED5bn) in Abu Dhabi on behalf of the emirate's government.
According to an Abu Dhabi Securities Exchange missive, Abu Dhabi has appointed Aldar to complete the remaining infrastructure and public realm works on Saadiyat Island, valued at $544.5m (AED2bn).
Aldar said the project would “facilitate further integration of Saadiyat Island into the broader Abu Dhabi metropolitan area with the construction of roads and utilities”.
Abu Dhabi Housing Authority has also appointed Aldar to develop the expansion of Al Falah – a $544.5m masterplanned community developed for UAE nationals that will add 899 villas to the project’s existing stock of 4,989.
Aldar has also won a $272.3m (AED1bn) contract from Two Four 54 to develop the Abu Dhabi-based media zone's planned campus on Yas Island.
This development will bring a working population of 10,000 to the island and will play a “key role in encouraging further investment into the UAE”.
“Aldar will appoint contractors for all three projects immediately to ensure that works commence with phased completions starting as early as 2021,” the ADX missive read.
The news comes nearly a year after the Abu Dhabi Government outlined details of its Ghadan 21 accelerator programme – a three-year scheme driving economic development, innovation, ease of doing business, and liveability in Abu Dhabi.
One of the key tenets of the programme is to develop infrastructure, including transportation, communication, and urban development to support economic growth.