Abu Dhabi's Aldar awarded development project contracts worth Dhs8.5bn in 2021
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Abu Dhabi’s Aldar awarded development project contracts worth Dhs8.5bn in 2021

Abu Dhabi’s Aldar awarded development project contracts worth Dhs8.5bn in 2021

The company signed 16 contracts with UAE-based companies to support the National ICV programme

Aldar Properties has announced that – in 2021 – it awarded development projects valued at Dhs8.5bn to UAE-based companies. These contracts cover infrastructure, residential, commercial and mixed-use projects in Abu Dhabi. The contracts were awarded to 14 different UAE-based contractors.

Through these contracts, Aldar aims to create jobs and support local businesses, in line with the UAE’s National In-Country Value (ICV) programme. In late 2019, the UAE government extended the ICV programme to the real estate sector to drive growth and diversification of the UAE economy through increased employment opportunities for UAE nationals and business opportunities for UAE-based companies.

Adel Abdulla Albreiki, CEO at Aldar Projects said: “Generating a positive impact on the local economy is a core priority for Aldar, so we are proud to support UAE-based businesses in such an impactful way. Furthermore, almost all products used by our partners are being sourced locally, which helps circulate additional money back into the local economy and helps mitigate supply chain issues. Our contribution will be further bolstered throughout 2022, as we press ahead with our plans to develop a broad suite of residential, commercial, educational and retail offerings.”

The contracts, which include projects within Aldar’s owned and managed portfolio, will see residential units, retail spaces, mosques, new and upgraded roads, landscaping and renovation work delivered within the next three years.

During 2021, Al Shafar General Contracting was awarded a contract for mixed-use development and infrastructure works at Saadiyat Grove and Al Gurm. Fibrex won a contract to develop villas at Noya, while Trojan was awarded the contract for villa development at Yas Acres, with Nael General Contracting receiving the contract to develop villas at Wathba.

Infrastructure projects were awarded to National Projects & Construction, Nael & Bin Harmal Hydroexpert, Western Bainoona Group and Hilalco. Additional projects were also awarded to Al Ryum, Gulf Landscape, ATS, Emirates Links, Engsol and Dutco.

This year, new development project contracts have been awarded to UAE-based businesses across two projects on Saadiyat Island, with plans for more work to begin during the year.

In other news, Aldar launched a portfolio-wide energy management project in January to reduce its energy consumption by approximately 20 per cent across 80 assets, including hotels, schools, commercial, leisure, retail, and residential buildings. The company has partnered with established energy service companies to help it achieve this target.

Read: UAE’s Aldar to reduce carbon emissions by 80,000 tons annually across assets

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