Aldar awards $120m contracts for two Abu Dhabi projects
National Projects and Construction to complete work on Nareel Island and Al Merief developments in 16 months
The Abu Dhabi-listed Aldar Properties has awarded contracts worth $119.7 million (AED 440 million) to National Projects and Construction (NPC) for its master planned island community project Nareel Island, and for its Al Merief development in Khalifa City.
Set to be carried out over a 16-month period, the work on both developments commenced on July 16 and covers infrastructure, utilities and public areas, in addition to associated marina works for Nareel Island, the real estate major said in a statement.
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.”
Nareel Island is a high-end development spread over two islands off the Al Bateen coast. The development consists of 148 villa plots, some with waterfront access, in addition to a lagoon, marina, clubhouse, open parks, private beaches, pontoons and gardens.
Aldar awarded the earthworks and marine works tenders in October 2015 and is making progress on the construction. According to the developer’s statement cutting works are complete in a number of areas on the project’s main island and the revetments are nearing completion. Reclamation work for the lagoon has also commenced, and dredging on the southern island is complete, Aldar said.
Al Merief comprises villas across 283 plots of land and is a fusion of traditional Emirati architectural elements and modern amenities, set within landscaped gardens and recreational facilities. Amenities in close proximity include parks, mosques, an Aldar Academies-operated school, and a neighbourhood retail centre, Aldar added.
