Aldar Properties (Aldar) has announced that it has awarded 49 contracts totalling AED 22bn for a series of projects – including infrastructure, residential, commercial, and mixed-use developments – across Abu Dhabi in 2023.
The contracts were awarded to 36 UAE based companies with almost 50% of the value (AED 10.5bn) being recirculated to the local economy in line with the National In-Country Value (ICV) programme, which was launched by the UAE government as part of the Projects of the 50. The ICV programme aims to support economic and social development, job creation, and the growth of the national GDP.
The awarded contracts will result in the delivery of villas, townhouses, apartments, Grade A offices, retail spaces, schools, and major highways within some of Abu Dhabi’s key growth locations – which include Yas Island, Saadiyat Island, and Al Shamkha.
53% of the contracts were awarded for Aldar owned projects. The remaining 47% are for projects being delivered on behalf of the Abu Dhabi government.
“The significant value of contracts awarded by Aldar in 2023 is a representation of Abu Dhabi’s ongoing and accelerated development as a destination to live, work and visit. Once completed, these projects will not only help to satisfy demand for new residential options in the capital, but also deliver new office and retail spaces, and make the emirate more connected through a series of infrastructure improvements.
“Aldar places sustainability as a key credential within its procurement process, ensuring that all contractors are positively contributing to our Net Zero commitments, which encompass a number of critical levers, including low carbon design, low carbon supply chain, green construction and circular economy.”
Adel Abdulla Albreiki, Chief Executive Officer, Aldar Projects
During 2023 on Saadiyat Island, Trojan General Contracting (‘Trojan’) in partnership with Arabian Construction Company (ACC), were awarded a contract to develop the first two phases of Saadiyat Lagoons, while Innovo Build was awarded the third phase.
In total, over 2,000 residential units will be developed by the contractors at Saadiyat Lagoons. Innovo Build was also awarded a contract for a mixed-use development and infrastructure works at Saadiyat Grove, a world-class retail destination that will sit at the centre of the cultural district.
On Yas Island, Fibrex has been contracted to develop homes at Yas Park Gate and Yas Park Views. The project includes the development of 849 units, located near the premier leisure and entertainment attractions on the island. ACC was awarded a contract to develop a Grade A office tower, responding to the demand for greater commercial space on Yas Island.
Nurol has been tasked with villa and infrastructure works at Fay Al Reeman II, which will create 557 residential units in the Al Shamkha area. A contract was also awarded to Trojan for villa and infrastructure works at Balghaiylam, a new community for UAE citizens being developed in partnership with Abu Dhabi Housing Authority and featuring 1,743 homes.
Major infrastructure projects were also awarded to National Projects & Construction (NPC), Nael & Bin Harmal Hydroexport (NBHH), Noor Al Sahara General Contracting LLC, and City Construction General Contractor LLC.
Other key projects have been awarded to Combined Group, Pivot, Bright Accord, Dutch Foundation, Gulf Contractors Company (GCC), Western Beach, and Al Tayer Stock (ATS).
