#Aldar General News
April 21, 2018
Handovers Begin At Aldar's Nareel Island And Al Merief
Aldar Properties PJSC, provides its latest quarterly update on development progress across its portfolio.
Handovers have now commenced at Nareel Island, a prime destination and one of Abu Dhabi's most exclusive islands on the coast in Al Bateen. Handovers have also commenced at Al Merief, Aldar's plot development marketed to UAE Nationals, located in Khalifa City.
Construction also continues to make strong progress across Aldar's remaining developments. On Yas Island, at West Yas, construction is entering its final stages, with testing and commissioning work ongoing, in preparation for handover to customers.
Last week, Aldar awarded a AED 1.3 billion main contractor package for Water's Edge, which comprises 2,255 residential units, with exercise and recreation facilities, restaurants and cafes, retail space and a waterfront promenade on Yas Island's eastern shores.
At Mayan, Aldar's luxury golf and waterfront apartment development, substructure work is now complete with work on the superstructure well underway across the development. Similarly, at Yas Acres, building activity continues across all 652 villas and townhouses that have been launched to date.
On Reem Island, enabling work is making good progress at The Bridges, a six building, 1,272 home development on Reem Island, launched last year. Main works are expected to commence imminently. Meera is now almost fully enclosed and HVAC fixing is now complete across both towers.
In Al Ain, expansion and renovation work at Al Jimi Mall, Aldar's flagship asset in Al Ain, is entering final stages. It is due to complete end of this year and set to add 33,000 sqm of retail, leisure and F&B space, bringing total GLA to 76,000 sqm.