Aldar awarded Dhs22 billion contracts in 2023

ABU DHABI: Aldar Properties (Aldar) has announced the awarding of 49 contracts, totalling Dhs22 billion, for a series of projects, including infrastructure, residential, commercial, and mixeduse developments across Abu Dhabi in 2023.

The contracts were awarded to 36 Uae-based companies with almost 50% of the value - Dhs10.5 billion - being recirculated to the local economy, in line with the National In-country Value (ICV) programme, which was launched by the UAE government as part of the Projects of the 50. The ICV programme is crucial to economic and social development, job creation, and the growth of the national GDP.

The awarded contracts will result in the delivery of villas, town-houses, apartments, Grade A offices, retail spaces, schools, and major highways within some of Abu Dhabi’s key growth locations, including Yas Island, Saadiyat Island, and Al Shamkha. 53% of the contracts were awarded for Aldar owned projects, while the remaining 47% are projects being delivered on behalf of the Abu Dhabi government.

Adel Abdulla Albreiki, Chief Executive Officer at Aldar Projects, said: “The significant value of contracts awarded by Aldar in 2023 is a representation of Abu Dhabi’s ongoing and accelerated development as a destination to live, work, and visit. Once completed, these projects will not only help to satisfy 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.”