Aldar gets contract to build 996 villas
New projects to come up at Al Falah development in the capital
Abu Dhabi: Aldar Properties, Abu Dhabi’s premier real estate developer, has been awarded a new contract to build 996 villas for UAE nationals at its Al Falah development in the capital where as many as 4,857 villas are being built, a senior Aldar executive told reporters here on the sidelines of Cityscape 2013.
“We have got this new project from the Abu Dhabi Housing Authority. We will deliver the villas in about two and-a-half years,” said Talal S. Al Dhiyebi, Head of Portfolio and Development Management at Aldar, while declining to specify the value of the new project, citing confidentiality.
Al Dhiyebi said the Al Falah project was originally awarded to Aldar in 2009 and out of the 4,857 villas to be built there under the plan, 2,079 have already been handed over to the UAE nationals. The remainder would be handed over in summer, he added.
Separately, Aldar and Dubai-based construction major Arabtec Holding said in a joint statement yesterday that they have reached an agreement wherein Arabtec will take a long-term lease for all of the World Trade Centre Abu Dhabi commercial tower being developed by Aldar.
“It is intended that the offices at the World Trade Centre will provide Arabtec with the necessary space for its future expansion and its existing business operations and subsidiaries in the emirate of Abu Dhabi. The new offices will also support Arabtec’s planned expansion activities in the oil & gas, power and infrastructure sectors, as well as provide capacity for future employees and partners in the city,” the statement said.
Commenting on their agreement with Arabtec, Ali Eid Al Mehairi , Aldar Properties’ chairman, said: “The World Trade Centre offices are located in the commercial and business heart of Abu Dhabi. With the capital’s rising economic role, we wanted to design a space that created synergy between global, regional and local business environments. Arabtec, a true local success story in the UAE with projects regionally and globally, is a perfect reflection of what the World Trade Centre offices stand for.”
