Aldar’s Saadiyat Homes Approaching Completion
Aldar Properties PJSC (‘Aldar’) today provides its latest quarterly update on projects under development across its key destinations in Abu Dhabi.
Aldar’s Mamsha Al Saadiyat and Jawaher Al Saadiyat are entering the final stages of construction as both move towards mid-year handovers. Façade work at luxury beach front residences Mamsha Al Saadiyat is now complete across all nine buildings with work on podium facades currently underway. Internal finishes including carpentry are entering their final stages and the beach promenade, which will provide access to diverse retail, dining and entertainment features, is making good progress.
Construction work at Jawaher Saadiyat is making great progress as the development moves in to its final stage with infrastructure and external works well underway. Located in the heart of Abu Dhabi’s cultural district, the exclusive gated community consists of 83 villas and townhouses as well as a community centre.
On Yas island, construction at Yas Acres, Aldar’s golf and waterfront villa and townhouse development, is making good progress with interior fixes, roads and infrastructure works underway at all 652 launched villas and townhouses. The Royal Oak and town house show homes are now open for viewings. Also on Yas Island, construction work related to the main contract is progressing well across all 13 buildings at Water’s Edge.
On Reem Island, superstructure works are almost complete across three of the six buildings in the 1,272 home development, The Bridges. Construction at the three remaining buildings is progressing well following the completion of enabling works in late 2018.
The main contract for infrastructure buildings and early works package for the first neighbourhood at Alghadeer has been appointed to Al Rakha Contracting & General Transport. The contract includes site preparation, infrastructure, and construction of 707 maisonettes, townhouses and villas launched to date. Since appointment, the contractor team is now mobilizing on site to commence construction work. Situated close to the border of Abu Dhabi and Dubai, Alghadeer is a sustainability focused masterplan featuring over 14,000 homes, commercial, cultural and entertainment facilities, in addition to farm and allotment facilities - THE HARVEST.
Aldar’s extension of Al Jimi Mall in Al Ain is on track for an imminent opening. Once complete, the extension will add 45,000 sqm of gross leasable area and will feature the first outside 'Retail Park' concept, 88 new stores and Al Ain's first eight screen Vox Cinema.
Aldar Properties is undertaking multi-billion Dirham civic projects to help develop Abu Dhabi, the capital emirate of the United Arab Emirates, into an international business magnet and tourist destination. As the Emirate’s premier real estate development, management and investment company, Aldar’s vision is to establish Abu Dhabi as the UAE’s most dynamic forward-thinking real estate market by creating unique and prestigious developments that can be used as a benchmark of quality, whilst adhering to the cultural and natural heritage of the city.
Since launching in 2005, the company has announced assignments worth more than $75 billion USD, in a property development portfolio diverse in scope and style, attracting considerable worldwide interest and inward investment. The development company is owned by leading Abu Dhabi institutions, shareholders and investors, providing them with a sound long-term portfolio.
Aldar Properties has a key competitive advantage due to its sound financial backing, large resources, the high level of management expertise and the Government’s support in undertaking large-scale, market-driven projects which add value to the Emirate’s booming property industry.
Aldar’s financial credibility has been recognized by world renowned credit rating institutions. In 2008, Aldar was assigned a high rating of A3 by Moody’s Investors Service and a solid A- by Standard & Poor’s (S&P). More recently, Morgan Stanley Research Europe cited Aldar as the leading developer in Abu Dhabi’s real estate sector.
Aldar is committed to producing developments that balance the need for infrastructure with environmental sustainability. The company owns over 50 million square metres of land in strategic locations throughout the Emirate. The current property portfolio includes major developments and re-developments within the Emirate of Abu Dhabi. These include Yas Island, Al Raha Beach, Central Market, Nareel Island, and Noor Al Ain.
At the core of what Aldar stands for is the corporate focus on balancing the evolving needs of a modern city while maintaining and conserving the environment. Aldar’s projects seek to prioritise both the immediate and future physical, social and economic requirements of the United Arab Emirates and Abu Dhabi for the benefit of those who live and work in the region.
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