Business | Construction
Aldar appointed project manager for Mubadala facility
Mubadala Development Company has appointed Aldar Properties PJSC as project manager for the Imperial College London Diabetes Centre building project in Abu Dhabi on a turnkey basis.
- Staff Report
- Published: 00:00 March 14, 2005
Mubadala Development Company has appointed Aldar Properties PJSC as project manager for the Imperial College London Diabetes Centre building project in Abu Dhabi on a turnkey basis.
"We are excited about the opportunity to work with Aldar Properties.
"The awarding of this contract is a milestone for the project. It signifies the tireless efforts being made to develop the centre," said Waleed Al Mokarrab Al Muhairi, director of Mubadala's Industry, Technology and Telecommunications Unit.
According to the agreement, Aldar will deliver the building to Mubadala by the second quarter of 2006. Negotiations are currently underway for a potential 15-year lease agreement between the Diabetes Centre and Aldar.
"Following our recent announcements regarding the Abu Dhabi Central Market Redevelopment and the Al Raha Development, this appointment confirms Aldar's position as a premier real estate development company," said Ahmad Ali Al Sayegh, chairman of Aldar Properties.
"We are able to offer innovative and tailor-made solutions for all types of real estate developments. We are very proud to have been awarded the project," Al Sayegh said.
The Imperial College London Diabetes Centre, a specialised facility for diabetes treatment, care and research, was established by Mubadala Development in partnership with Imperial College London.
The centre will include a treatment unit and a research institute in a custom-built facility which will open by mid-2006.
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