ABU DHABI, UAE – Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (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 percent of the value US$2.8 billion (AED 10.5 billion) being recirculated to the local economy, in line with the National In-Country Value (ICV) program, which was launched by the UAE government as part of the Projects of the 50.
The ICV program 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.
At least 53 percent of the contracts were awarded for Aldar owned projects, while the remaining 47 percent are being delivered on behalf of the Abu Dhabi government.
CEO at Aldar Projects Adel Abdulla Albreiki 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.”
He said, “Once completed, these projects will not only help to satisfy demand for new residential options in the capital, but also deliver new office and retail spaces, and make the emirate more connected through a series of infrastructure improvements.”
He added, “Aldar places sustainability as a key credential within its procurement process, ensuring that all contractors are positively contributing to our Net Zero commitments, which encompass a number of critical levers, including low carbon design, low carbon supply chain, green construction, and circular economy.”
On Saadiyat Island during 2023, Trojan General Contracting (Trojan) in partnership with Arabian Construction Company (ACC), were awarded a contract to develop the first two phases of Saadiyat Lagoons, while Innovo Build was awarded the third phase.
In total, over 2,000 residential units will be developed by the contractors at Saadiyat Lagoons.
Innovo Build was also awarded a contract for mixed use development and infrastructure works at Saadiyat Grove, a world-class retail destination that will sit at the center of the cultural district.
On Yas Island, Fibrex has been contracted to develop homes at Yas Park Gate and Yas Park Views. The project includes the development of 849 units, located in proximity to the premier leisure and entertainment attractions on the island. ACC was awarded a contract to develop a Grade A office tower, responding to the demand for greater commercial space on Yas Island.
Nurol has been tasked with villa and infrastructure works at Fay Al Reeman II, which will result in the addition of 557 residential units in the Al Shamkha area.
A contract was also awarded to Trojan for villa and infrastructure works at Balghaiylam, a new community for UAE citizens being developed in partnership with Abu Dhabi Housing Authority and featuring 1,743 homes.
Major infrastructure projects were also awarded to National Projects & Construction (NPC), Nael & Bin Harmal Hydroexpert (NBHH), Noor Al Sahara General Contracting LLC and City Construction General Contractor LLC.
Other key projects have been awarded to Combined Group, Pivot, Bright Accord, Dutch Foundation, Gulf Contractors Company (GCC), Western Beach, and Al Tayer Stock (ATS).