Aldar awards $6bn contracts for Abu Dhabi projects

Aldar awards $6bn contracts for Abu Dhabi projects

Abu Dhabi’s largest-listed property developer awarded 49 contracts worth AED22 billion ($5.99 billion) across various projects in 2023. The contracts comprise infrastructure, residential, commercial, and mixed-use developments, the UAE state-run Wam news agency reported, citing a statement from Aldar Properties. The contracts were awarded to 36 UAE-based companies. Nearly 50 percent or AED 10.5 billion […]Abu Dhabi’s largest-listed property developer awarded 49 contracts worth AED22 billion ($5.99 billion) across various projects in 2023.

The contracts comprise infrastructure, residential, commercial, and mixed-use developments, the UAE state-run Wam news agency reported, citing a statement from Aldar Properties.

The contracts were awarded to 36 UAE-based companies. Nearly 50 percent or AED 10.5 billion of the contracts were part of the UAE government’s national in-country value programme.  

The awarded contracts will deliver villas, townhouses, apartments, Grade A offices, retail spaces, schools, and major highways within some of Abu Dhabi’s key growth areas, including Yas Island, Saadiyat Island, and Al Shamkha. 

Nearly 53 percent of the contracts were awarded for Aldar-owned projects, while the remaining 47 percent are projects being delivered on behalf of the Abu Dhabi government.

Adel Abdulla Albreiki, CEO of Aldar Projects, said that the significant value of contracts awarded represents Abu Dhabi’s ongoing and accelerated development.

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