Skip to content Skip to Search
Skip navigation

Aldar awards $6bn contracts for Abu Dhabi projects

By Pramod Kumar
Aldar Properties
Aldar awarded development contracts to 36 UAE-based companies

Abu Dhabi’s largest-listed property developer Aldar awarded 49 contracts worth AED22 billion ($5.99 billion) across various projects in 2023.

The contracts comprise infrastructure, residential, commercial, and mixed-use developments, the UAE state-run Wam news agency reported, citing a statement from Aldar Properties.

The contracts were awarded to 36 UAE-based companies. Nearly 50 percent or AED10.5 billion of the contracts were part of the UAE government’s national in-country value programme.  

The awarded contracts will deliver villas, townhouses, apartments, Grade A offices, retail spaces, schools, and major highways within some of Abu Dhabi’s key growth areas, including Yas Island, Saadiyat Island, and Al Shamkha. 

Nearly 53 percent of the contracts were awarded for Aldar-owned projects, while the remaining 47 percent are projects being delivered on behalf of the Abu Dhabi government.

Adel Abdulla Albreiki, CEO of Aldar Projects, said that the significant value of contracts awarded represents Abu Dhabi’s ongoing and accelerated development.

The developer said that sustainability is integral to its procurement process, as it ensures contractors are positively contributing to its net zero commitments, such as low carbon design, low carbon supply chain, green construction, and a circular economy. 

Earlier this week, Aldar said it would invest AED5 billion to develop a range of commercial, retail, hospitality and logistics assets within its prime real estate projects in the capital.

The assets, part of the developer’s investment portfolio, will be delivered in phases between 2025 and 2027.

As part of its pan-European real estate strategy, Aldar partnered with US-headquartered investment firm Carlyle to invest AED407 million in
logistics and storage assets in Europe.

The investment includes the Carlyle Europe Realty platform, a pan-European
real estate strategy, and acquiring a majority stake in a co-investment
platform of an income-producing portfolio of 14 warehouses across key
logistics hubs in the UK.

Latest articles

Mark Foster, who played professional rugby for Gloucester and now heads LIV Golf, says the sport is ripe for investment

LIV Golf chief says rugby next in line for Gulf funds

Talks are taking place with sovereign wealth funds and private equity entities about potential Gulf investment in rugby, according to Mark Foster, senior vice president of finance operations at Saudi-backed LIV Golf Investments. Foster, a former Gloucester and Exeter Chiefs professional rugby player, told The Good the Bad & the Rugby podcast that discussions have […]

Dubai mall Lamcy Plaza

Fire-hit Dubai shopping mall fails to attract auction bids

A Dubai shopping mall closed since a fire in 2017 has failed to attract interest from potential buyers after being put up for auction. The Lamcy Plaza mall went on auction earlier this month with a starting bid of AED200 million ($54 million), but received no offers. The five-storey neighbourhood mall, which opened in 1997, […]

Aircraft, Flight, Transportation

Emirates to resume Nigeria service from October

Emirates will restart services to Nigeria from October 1, after suspending flights on the route for almost two years. The Dubai airline will operate a daily service to  Lagos, Nigeria’s largest city.  “We are excited to resume our services to Nigeria,” said Adnan Kazim, deputy president and chief commercial officer, Emirates.  “We thank the Nigerian government for their partnership and support in re-establishing this […]

Agility has developed more than 1 million sq m of land, warehousing and logistics infrastructure in Saudi Arabia

Kuwait’s Agility earnings rise 22% to $61m in Q1 2024

Kuwait-based logistics specialist Agility said first quarter 2024 earnings rose 22 percent year on year to KD18.7 million ($61 million) Revenue increased nearly 5 percent year on year to KD336 million, the company said in a statement published on Boursa Kuwait. The company reported an operating cash flow of KD26 million for the first quarter. Assets stood […]