Aldar awards 2 billion dirham contract to Arabtec for construction of West Yas Villas
Abu Dhabi - UAE, January 11, 2016: Aldar Properties PJSC ("Aldar" or the "Company"), Abu Dhabi's leading listed property development, investment and management company, has awarded a contract worth approximately AED 2 billion to Arabtec Construction, one of the region's leading building contractors. The contract is for the construction of 1,017 villas at West Yas, Aldar's residential development at Yas Island. This contract represents the final package to be awarded for the West Yas development following the infrastructure and public realm, school, clubhouse and retail, and mosque packages.
Talal Al Dhiyebi, Chief Development Officer at Aldar Properties, commented: "We are very pleased with the level of interest that has been shown in West Yas. Demand has been very strong, which endorses our strategy of delivering high quality properties in prime locations. We now move to the villas' construction phase of the development with the appointment of Arabtec and look forward to its completion and the positive impact it will have on Yas Island and the Abu Dhabi market."
West Yas is located along Yas Island's natural mangroves and features 1,017 four and five-bedroom luxury villas, with prices starting from AED 4 million. The development is a non-gated community with no service charges, and includes a range of community facilities including a mosque built for 2,000 worshippers, two schools, one of which will be operated by Aldar Academies, a retail centre, sports facilities, a petrol station, and extensive landscaping and greenery in the open public spaces. The villas are expected to be handed over at the end of 2017.