UAE’s Aldar Awards Development Contracts Valued at Over AED 22 Billion in 2023

UAE’s Aldar Awards Development Contracts Valued at Over AED 22 Billion in 2023

Aldar Properties (“Aldar”) has announced the awarding of 49 contracts, totalling AED 22 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, townhouses, 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, while the remaining 47% are projects being delivered on behalf of the Abu Dhabi government.

Adel Abdulla Albreiki, Chief Executive Officer at Aldar Projects, said: “The significant value of contracts awarded by Aldar in 2023 is a representation of Abu Dhabi’s ongoing and accelerated development as a destination to live, work, and visit. Once completed, these