Strong Progress Continues On Aldar Residential Developments

Jul 14 • Highlights, News & Features • 374 Views • Comments Off on Strong Progress Continues On Aldar Residential Developments

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Aldar Properties PJSC (Aldar), Abu Dhabi’s leading listed property development, investment and Management Company, continues to make strong progress across its portfolio of residential projects.

Residential construction activities continue to progress at West Yas, Aldar’s first villa community on the iconic Yas Island, with piling, sewerage, utility, telecommunication and lighting work almost complete.

The main school, to be operated by Aldar Academies, is currently in the process of being handed over. Following an evaluation by Urban Planning Council in May, the project was awarded with a two pearl rating, confirming its compliance with Estidama goals.

The appointment of the main contractor for Shams Meera, mid-market development located in Abu Dhabi’s Reem Island; Nareel, a master planned island community and Al Merief, a community specifically designed for UAE Nationals in Khalifa City; are all imminent. All authority approvals have been secured and the tendering process is in the evaluation stage.

The development structure at Al Hadeel, the latest residential community to complement Al Raha Beach’s suite of existing luxury residences and at Ansam, an Andalusian style apartment development on the West side of Yas Island, are now complete, with MEP and internal block works ongoing.

Work on the closed canal and streetscape of Shams Abu Dhabi is progressing well with backfilling in both the central park and marina now complete.  Concrete casting is in progress and the project remains on target.

Al Jimi Mall, Al Ain’s first and favourite shopping and entertainment destination attracting 8 million visitors annually, is in the process of a significant expansion programme to add a further 65 stores, including a 10-screen cinema, and a retail park to the existing 94 outlets, bringing the total leasable area to 75,000sqm. Civil and MEP works have commenced and remain on schedule whilst shoring, excavation and structural works are progressing well across the construction site.

Abu Dhabi Plaza is on track for delivery during Q1 2017. An integrated large mixed use iconic development of the circa 500,000sqm located in Astana, the capital of Kazakhstan, the development includes residential apartments, commercial offices, a 26,000sqm retail mall an hotel, and a serviced apartment building.  Progress is being made on the structural work across towers within the development and with MEP, block work, cladding and interior work all underway across the hotel and serviced apartment blocks.

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.

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