Aldar Properties awards contracts worth $119.7 million
Aldar Properties awards contracts worth $119.7 million

Aldar Properties, an Abu Dhabi listed company, has announced that it has awarded contracts worth $119.7 million or AED 440 million for two of its projects in Abu Dhabi.

The company has awarded contracts to National Projects and Construction (NPC) for its master planned island community project Nareel Island and also for its Al Merief development project in Khalifa City. The project work is expected to be carried out during a 16 month period. The company said in a statement that the work on both developments started on 16 July, 2016 and includes infrastructure, utilities and public areas besides other marina works for Nareel Island.

Talal Al Dhiyebi, chief development officer at Aldar Properties, said: "As one of the most exclusive developments in the region, Nareel Island brings a new level of luxury to Abu Dhabi. Meanwhile, Al Merief is set to become a welcoming new address in a burgeoning area of the UAE capital. With the appointment of NPC, we are on track for the completion of both developments in 2017."

The Nareel Island development is an elite development spread over two islands off the Al Bateen coast and it includes 148 villa plots, a lagoon, marina, clubhouse, open parks, private beaches, pontoons and gardens.

On the other hand, Al Meriefdevelopment includes villas across 283 plots of land and features traditional Emirati architectural elements and modern amenities. The company said that the development includes facilities like parks, mosques, an Aldar Academies-operated school, and a neighbourhood retail centre.