ABU DHABI GOVERNMENT PARTNERS WITH ALDAR TO DELIVER PROJECTS WORTH AED 5 BILLION
• AED 2 billion contract to complete Saadiyat Island infrastructure
• AED 2 billion contract to develop 899 villas in Al Falah
• AED 1 billion contract to develop twofour54 campus on Yas Island
Abu Dhabi - UAE, 10th July 2019: In line with the vision of Abu Dhabi to become one of the best places in the world to do business, invest, work, live and visit, multiple Abu Dhabi Government entities have partnered with Aldar Properties (“Aldar”) to deliver social, economic and infrastructure projects worth AED 5 billion across a number of key destinations in the Emirate. Contractors will be appointed immediately to commence works on Saadiyat Island, Yas Island and in Al Falah, which house some of the capital’s most thriving residential communities and commercial destinations.
The Abu Dhabi Government has appointed Aldar to complete the remaining infrastructure and public realm works on Saadiyat Island worth AED 2 billion. The project will facilitate further integration of Saadiyat Island into the broader Abu Dhabi metropolitan area with the construction of roads and utilities. This will ensure Saadiyat Island is equipped with the best infrastructure attracting further investments to one of the most sought-after destinations in Abu Dhabi. Existing cultural and educational landmarks on the island include Louvre Abu Dhabi, New York University Abu Dhabi, Cranleigh Abu Dhabi, a number of beach resorts and several residential communities.
Aldar has also been appointed by the Abu Dhabi Housing Authority to develop the expansion of Al Falah, a master-planned community developed for UAE nationals. The project will add an additional 899 villas to the existing stock of 4,898 with a total development value of AED 2 billion.
twofour54 awarded Aldar a AED 1 billion contract to develop their new campus located on Yas Island. This new development will bring a working population of 10,000 to the island through its state-of-the-art facilities, and will play a key role in encouraging further investment into the UAE capital’s thriving media and entertainment industry. The new campus to Yas Island, Abu Dhabi’s leading entertainment, leisure and residential destination, will further enhance twofour54’s position as the gateway for media companies to a large diverse audience demanding quality content in all formats.
Aldar will appoint contractors for all three projects immediately to ensure that works commence with phased completions starting as early as 2021.
In September 2018, the Abu Dhabi Government outlined details of its accelerator programme Ghadan 21, a three-year programme driving economic development, innovation, ease of doing business and livability in the UAE capital. One of the key tenets of the programme is to develop infrastructure, including transportation, communication and urban development.