Abu Dhabi developer Aldar Properties has awarded a Dhs1.7bn contract for its Dhs6bn flagship golf and waterfront development Yas Acres, it announced on Sunday.
The company has appointed Trojan General Contracting as the main contractor for the first three precincts of the project, it said in a statement.
Trojan General Contracting will mobilise work on site immediately and will be responsible for the development of all the infrastructure, the 652 villas and townhouses, the golf course, golf club house, mosque, retail and community clubs.
The contract award follows the recent completion of the early works package, with Yas Acres completing 10 per cent of its construction.
The main package – valid over a period of 32 months – applies across all the three precincts launched so far.
Launched in April last year, the Dhs6bn project is located on the northern part of Yas Island and will add 1,315 villas to the emirate.
A nine-hole golf course and member’s country club will be at the centre of the development, along with other amenities such as two schools, five mosques, community retail, an ADNOC petrol station, a yacht club and marina.
Spanning an area of 811,108 square metres, the site will also include landscaped parks, running and cycling tracks, community pool areas along with playgrounds, sports facilities and BBQ areas.
Prices start at Dhs2.9m for a three bedroom townhouse, Aldar said during the launch. Once complete, the development will be home to 15,000 residents.
In June last year, Aldar said it sold out the first phase of the project, generating revenues of more than Dhs1bn.
The developer aims to hand over the first homes in Yas Acres at the end of 2019.
Talal Al Dhiyebi, chief development officer, Aldar Properties, said the developer was focussed on the “timely completion” of the project and its delivery to customers.
“With the mobilisation of the contractors we expect to see highly visible progress as these precincts of villas and townhouses start construction.”