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Aldar Properties, Abu Dhabi’s largest listed developer, awarded contracts worth AED 1 billion for the development of its projects Alreeman in Alshamkha and Reflection on Reem Island.
The Alreeman contract of AED 794 million, is for infrastructure development and was awarded to Abu Dhabi-based Tristar Engineering and Construction. With infrastructure activities having commenced in July, the handover of the work on the 2.8 million sq m development is expected by July 2021.
At Reflection, the main contract for construction work worth AED 220 million was awarded to Abu-Dhabi-based Fibrex Construction, in April. Work at the project—a two-tower residential development offering 374 homes—is expected to be completed over the next 24 months.
The developer also said that there was progress at its various projects underway in the emirate in Yas Island, Saadiyat island, Reem Island and Al Ghadeer.
At Yas Acres, Aldar’s flagship golf and waterfront villa and townhouse development, all 652 launched villas and townhouses were at various stages of completion, whilst work at Water’s Edge and Mayan was progressing.
Construction work was substantially complete at Mamsha Al Saadiyat and Jawaher Saadiyat projects on Saadiyat Island. At Reem Island, work on Bridges, a six-building, 1,272 home development, is progressing well, the developer said.
At Al Ghadeer, Aldar’s sustainability-focused masterplan community, excavation works were nearly complete, with foundation work making progress. The development features over 14,000 homes, commercial properties, cultural and institutional amenities and entertainment attractions to be built over the next 15 years.
Cavendish Maxwell is the MENA region’s leading firm of property consultants and chartered surveyors. If you are looking for professional real estate consultation or advice on property related matters, please view our services.
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