Home UAE Abu Dhabi UAE’s Aldar Properties awards contracts worth Dhs22bn in 2023 The contracts were awarded to 36 UAE-based companies with almost 50 per cent of the value – Dhs10.5bn – being recirculated into the local economy by Kudakwashe Muzoriwa February 8, 2024 Image credit: Supplied UAE’s Aldar Properties awarded 49 contracts worth Dhs22bn for a series of projects, including infrastructure, residential, commercial, and mixed-use developments in Abu Dhabi. The contracts were awarded to 36 UAE-based companies with almost 50 per cent of the value – Dhs10.5bn – being recirculated into the local economy in line with the National In-Country Value (ICV) programme. Aldar said the contracts will result in the delivery of villas, townhouses, apartments, grade A offices, retail spaces, schools, and major road networks within key growth locations in Abu Dhabi including Yas Island, Saadiyat Island, and Al Shamkha. The developer said 53 per cent of the contracts were awarded for Aldar-owned projects, while the remaining 47 per cent are projects being delivered on behalf of the government. “Once completed, these projects will not only help to satisfy the 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,” said Adel Abdulla Albreiki, the CEO of Aldar Projects. Aldar drives infrastructure development Trojan General Contracting (Trojan) and Arabian Construction Company (ACC) were awarded a contract to develop the first two phases of Saadiyat Lagoons in 2023, while Innovo Build was awarded the third phase. Combined, more than 2,000 residential units will be developed by the contractors at Saadiyat Lagoons. Innovo Build also secured a contract for mixed-use development and infrastructure works at Saadiyat Grove, a retail destination that will sit at the centre of the cultural district. On Yas Island, Fibrex was 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 in response to the growing demand for greater commercial space on Yas Island. Furthermore, Nurol was contracted to carry out villa and infrastructure works at Fay Al Reeman II, which will result in the addition of 557 residential units in the Al Shamkha area. Trojan was also contracted for villa and infrastructure works at Balghaiylam, a new community for UAE citizens being developed in partnership with the Abu Dhabi Housing Authority. The development features 1,743 homes. Major infrastructure projects were also awarded to National Projects & Construction, Nael & Bin Harmal Hydroexpert, Noor Al Sahara General Contracting, and City Construction General Contractor. Read: Aldar Properties unveils Dhs5bn investment plan