Aldar Developments on Track for Handovers in 2017

Abu Dhabi - UAE, July 17, 2017: Aldar is on track to hand over Ansam during the fourth quarter, while also making strong progress across a number of other developments in key destinations. On the west side of Yas Island, Abu Dhabi's most exciting destination, construction of the Andalusian-style apartment development Ansam is entering its final stages. Building façade works are complete and community roadworks and landscaping will follow this quarter. The residences, with snagging work underway and common areas in various stages of completion, are on track for a phased handover to conclude by year-end.

The infrastructure and non-residential works are now substantially complete at West Yas, Aldar's first villa community on Yas Island, with landscaping in progress. In addition to the opening of mock-up villas, the West Yas school, mosque and retail building have been handed over, and the majority of villas are structurally complete.

In Al Raha Beach, the sold-out Al Hadeel development, which includes apartments, townhouses and duplexes, is entering its final stages of completion. Elevator works have been concluded and commissioned, while the development's internal fit out, façade, and swimming pools are close to completion. Aldar's first mid-market focused development, Meera, situated in its master planned community on Reem Island, continues to make headway, with casting having progressed up to the 20th floor. This follows on Aldar's recent announcement that it has finished the 2.4 km closed canal and streetscaping, while coastalscape work on Reem Central Park nears completion.

Meanwhile, early works at Mayan, Aldar's luxury golf and waterfront apartment development set alongside the Yas Links Golf Club and the exclusive Yas Beach on Yas Island, are now complete, and the main contractor Ghantoot Group has commenced with construction. At Yas Acres, the main contractor has mobilized on site to commence construction on all infrastructure, as well as the launched villas and townhouses, golf course and clubhouse, mosque, retail and community clubs.

Located on the coast adjacent to Al Bateen, near the top western corner of Abu Dhabi island and targeting UAE Nationals, Nareel Island is on track for completion in Q4. Similarly, the sold-out Al Merief in Khalifa City is moving steadily towards its expected handover in Q1 2018, with deep services having commenced, and earthworks substantially completed. Finally, in Al Ain, Al Jimi Mall expansion work continues to make headway, with ceiling works in the food court and main atrium now nearing completion. Strong progress has been made on the eastern façade and southern car park landscaping. Refurbishment of the public areas is underway and work continues to progress well in the West Extension and the North side retail park. Due for completion during 2018, the expansion will add another 33,000 sqm of retail, leisure and F&B spaces, bringing total GLA to 76,000 sqm.

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