“Aldar Properties” undertakes government projects in Abu Dhabi worth $ 8.2...

“Aldar Properties” undertakes government projects in Abu Dhabi worth $ 8.2 billion

Abu Dhabi: «Middle East»

The Executive Committee of the Emirate of Abu Dhabi said that it has directed the development of a work mechanism to implement government capital projects, as part of the Abu Dhabi government’s efforts to support the real estate sector in the emirate, and the partnership initiatives between the public and private sectors.
The committee indicated that accordingly, the Abu Dhabi Development Holding Company, “Holding”, and the “Aldar Real Estate Company”, “Aldar”, signed a memorandum of understanding, according to which “Aldar” would manage and implement major projects with a total value of nearly 30 billion dirhams ($ 8.2 billion). ), The largest of which is the “Riyadh City” project and the “North Bani Yas” project, in addition to other projects in the Al Ain and Al Dhafra regions, which, upon completion of their development, will include more than 25,000 land and villas for citizens in addition to the associated infrastructure.
She explained that the mechanism for establishing “Aldar Real Estate” includes administrative supervision of the projects of the Abu Dhabi General Services Company, “Musanada”, to ensure the consistency of the current government capital infrastructure projects. Musanada is currently implementing a range of projects in various fields, such as education, health care, infrastructure, social services and management. The facilities.
According to the information released yesterday, Al-Dar expects to complete the project management transition process before the end of this year, which will ensure the continued development of all current projects scheduled to be delivered during the next five years.
Mohammed Al Suwaidi, CEO of the Holding Company, said that the leading position and strong record that the house enjoys in the real estate sector will contribute to the continuation of the implementation of a group of prominent government projects in the emirate, explaining that this agreement, in particular, represents remarkable progress in terms of accelerating implementation Citizen housing projects and major infrastructure in the emirate, and most importantly, it will coordinate commercial and strategic operations in the sector.
For his part, Talal Al-Dhiabi, CEO of “Aldar Real Estate”, said that “(Aldar) has proven its ability over many years to successfully complete prominent residential and commercial projects and major infrastructure projects. This transaction is also in line with our development strategy, which will contribute to enhancing our future profit growth. ”
It is noteworthy that the “Aldar” program to enhance in-country value will ensure that priority is given when awarding most contracts to local contractors, consultants and suppliers, including small and medium-sized companies, which will ensure that the largest possible amount is reinvested in the local economy. At the same time, the development of these projects will be consistent with the objectives of Sustainability for Al Dar, especially with regard to environmental standards, material procurement and worker welfare.