Aldar awards AED 1bn contracts

Abu Dhabi – Mubasher: Aldar Properties, a leading property developer in the UAE, on Sunday revealed it has awarded two contracts worth a combined around AED 1 billion for the development of Alreeman and Reflection.

Aldar has awarded an AED 794 million contract to Tristar Engineering & Construction LLC for implementing the infrastructure work at Alreeman, according to a press release.

The infrastructure work at Alreeman, a master-planned residential and commercial investment zone in the Alshamkha, has commenced in July.

The work of the 2.8 million-square-metre development is expected to be delivered by July 2021, Aldar said.

Under the 24-month contract, Tristar, the main contractor, will be responsible for the construction of roads and infrastructure along with all works related to earth, storm drainage, and sewerage at Alreeman.

Tristar will also handle the installation of the gas network, waterworks, irrigation, and telecom systems, as well as general road works, street lighting, and landscaping.

Moreover, Aldar has awarded an AED 220 million main contract to Fibrex Construction Group in April for the construction work at Reflection, the boutique two-tower residential development offering 374 homes set for completion over a 24-month period.

Aldar also reported steady progress at its flagship golf and waterfront villa and townhouse development on Yas Island, Yas Acres.

The company has launched 652 villas and townhouses at Yas Acres after the completion of structure for all villas and it will maintain progress with the advancement of the golf course earthworks, roads, and hardscape.

Structural works at Aldar’s Water’s Edge have progressed across all 13 buildings, while the concrete works at Mayan project, a luxury apartment development, were complete.

The company also posted a strong progress at its developments on Saadiyat Island, including Mamsha Al Saadiyat and Jawaher Saadiyat, the island’s exclusive gated community of villas and townhouses.

Construction work at Mamsha Al Saadiyat has been completed substantially with finishing works underway and the conveying system at its final stages of installation, Aldar said.

Jawaher Saadiyat is also making great progress ahead of handovers in 2019, with joinery and other interior fixtures and fittings works entering their final stages.

Meanwhile, work progress at the Bridges on Reem Island, a six-building with 1,272 homes development, is on track, and is due completion on schedule, with concrete works in phase one (buildings 1-3) completed in February 2019 and superstructure works at phase two (buildings 4-6) near completion.

Aldar further noted that the excavation works at its sustainability-focused master-plan, Alghadeer, are almost complete, with foundations, waterproofing, and binding progressing.

Infrastructure works at Alghadeer, which features over 14,000 high-quality homes, commercial properties, cultural and institutional amenities, and entertainment attractions to be built over the coming 15 years, have commenced, with work on the mock-up villas is well underway, Aldar said.

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