Aldar Properties inks $5.9B deals with 36 UAE firms in Abu Dhabi

Abu Dhabi's leading developer, Aldar Properties, invested AED 22 billion ($5.9 billion) in real estate and community infrastructure within a year. Half of this investment, approximately AED 10.5 billion, involved 49 contracts with 36 UAE-based firms through the national In-Country Value (ICV) program, contributing to the local economy. The contracts aim to address the increasing demand in the UAE market by providing residential options, Grade A offices, retail spaces, and schools. Strategic projects include highways on Yas Island, Saadiyat Island, and Al Shamkha, enhancing local infrastructure. Adel Abdulla Albreiki, Aldar Properties CEO, highlights the transformative impact, making the emirate more connected and meeting diverse real estate needs.

Aldar Properties played a significant role in these contracts, representing 53% of the deals, while projects on behalf of the Abu Dhabi government constituted the remaining 47%. Notable projects initiated by Aldar last year include an office tower, Saadiyat Grove shopping center, and over 2,000 homes on Saadiyat Island.

Key contracts were awarded to Trojan General Contracting and Arabian Construction Company for the first two phases of Saadiyat Lagoons, Innovo Build for the third phase, Fibrex for Yas Park Gate and Yas Park Views developments on Yas Island, ACC for a Grade A office tower on Yas Island, and Nurol for villa and infrastructure work at Fay Al Reeman II, adding 557 homes to Al Shamkha.

This comprehensive approach reflects Aldar's commitment to meeting the evolving real estate demands, fostering economic growth, and advancing infrastructure development in Abu Dhabi.

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