Aldar Properties awarded 49 development contracts worth AED22 billion in 2023

Aldar Properties awarded 49 development contracts worth AED22 billion in 2023

ABU DHABI/ WAM Aldar Properties (“Aldar”) has announced the awarding of 49 contracts, totalling AED22 billion, for a series of projects, including infrastructure, residential, commercial, and mixed-use developments across Abu Dhabi in 2023. The contracts were awarded to 36 UAE-based companies with almost 50% of the value – AED 10.5 billion – being recirculated to ...

ABU DHABI/ WAM

Aldar Properties (“Aldar”) has announced the awarding of 49 contracts, totalling AED22 billion, for a series of projects, including infrastructure, residential, commercial, and mixed-use developments across Abu Dhabi in 2023.

The contracts were awarded to 36 UAE-based companies with almost 50% of the value – AED 10.5 billion – being recirculated to the local economy, in line with the National In-Country Value (ICV) programme, which was launched by the UAE government as part of the Projects of the 50. The ICV programme is crucial to economic and social development, job creation, and the growth of the national GDP.

The awarded contracts will result in the delivery of villas, town-houses, apartments, Grade A offices, retail spaces, schools, and major highways within some of Abu Dhabi’s key growth locations, including Yas Island, Saadiyat Island, and Al Shamkha. 53% of the contracts were awarded for Aldar owned projects,