Aldar awards contracts for Alreeman and Reflection

• AED 1 billion worth of contracts awarded to Tristar and Fibrex
• Mamsha Al Saadiyat and Jawaher Al Saadiyat set for mid-year handovers

Abu Dhabi, UAE: Aldar Properties PJSC (‘Aldar’) today provides its latest quarterly update on projects under development across its key destinations in Abu Dhabi.

Work on infrastructure in Alreeman, a master-planned residential and commercial investment zone in the Alshamkha which was launched earlier this year, commenced in July, following the appointment ofTristar Engineering & Construction LLC (‘Tristar’) as the main contractor. With a contract value of AED 794 million, the handover of the work on the 2.8 million sqm development is expected by July 2021. As part of the 24-month contract, Tristar’s mandate will include the construction of roads and infrastructure alongside all works related to earth, storm drainage and sewerage. The contractor’s work will also include installing the gas network, water works, irrigation and telecom systems, in addition to general road works, street lighting and landscaping.

Steady progress is taking place across all of Aldar’s developments on Yas Island. At Yas Acres, the flagship golf and waterfront villa and townhouse development, all 652 launched villas and townhouses are at various stages of completion. With the structure completed for all villas, infrastructure works will continue to make significant progress with the advancement of the golf course earthworks, roads and hardscape. Structural works at Water’s Edge are progressing across all 13 buildings with floor slabs being cast at various levels and blockwork making steady progress. Concrete works are complete across the entire Mayan project, Aldar’s luxury apartment development, with blockwork also nearing completion and plasterworks, floor and wall tiling, and ceiling works progressing across all buildings.

On Saadiyat Island, construction is substantially complete at Mamsha Al Saadiyat with finishing works underway and the conveying system entering final stages of installation. Tree planting is in progress for the promenade and the authority approvals process is underway. Outside, the beach preparation work is progressing well. Jawaher Saadiyat, the island’s exclusive gated community of villas and townhouses, is also making good progress ahead of handovers this year, with joinery and other interior fixtures and fittings works entering their final stages.

On Reem Island, work on the Bridges, a six building, 1,272 home development, is progressing well. Concrete works in phase one (buildings 1-3) were completed in February 2019 and the buildings are moving closer to the “closing the envelope” stage, allowing for the finalisation of finishing works. As for phase two (buildings 4-6), superstructure works are moving closer to completion and the project’s expected completion date is on schedule. The main contract of AED 220 million worth of construction work at Reflection was awarded to Fibrex Construction Group in April, to be completed over a period of 24 months. Excavation, piling and shoring works as well as pile load tests have already been completed at the boutique two tower residential development offering 374 homes, while pile head cutting is underway.

At Alghadeer, Aldar’s sustainability focused masterplan, excavation works are now almost complete, with foundations, water proofing, and binding making good progress. Work on the mock-up villas is well underway, and infrastructure works have commenced. Situated close to the border of Abu Dhabi and Dubai, Alghadeer is features over 14,000 high-quality homes, commercial properties, cultural and institutional amenities and entertainment attractions to be built over the coming 15 years. 

-ENDS-

For further information, please contact:
Media
Nick Farmer
Aldar Properties
+971 2 810 5555
Joudi Issa / John Greenway
Brunswick
+971 2 234 4600
ALDAR@brunswickgroup.com  

About Aldar
Aldar Properties PJSC is the leading real estate developer in Abu Dhabi with USD10 billion in assets, a 75 million sq. m land bank, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and wider Middle East region.

From its beginnings in 2005 through to today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital City in addition to other key areas of the Emirate.

Aldar develops exciting and innovative projects, such as the internationally recognized HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, in addition to Yas Island’s F1 circuit.

Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.

Aldar seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirate. Aldar is playing a leading role in the development and provision of world class retail - Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire portfolio.

Aldar is driven by a vision to be the most trusted and recognized real estate lifestyle developer in Abu Dhabi and beyond.

For more information on Aldar please visit www.aldar.com 

© Press Release 2019