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Our Correspondent / Emirates Business
Aldar Properties PJSC is the leading real estate developer in Abu Dhabi with US$10 billion in assets, a 75 million sq-mt land bank, and through its iconic developments, it is one of the most well known in the UAE, and in wider
Middle East region.
From its beginnings in 2005 till today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital city in addition to other key areas of the Emirate.
Aldar develops exciting and innovative projects, such as the internationally recognised HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, in addition to Yas Island’s F1 circuit.
Commenting on the Mayan project, Mohammed Khalifa Al Mubarak, Chief Executive Officer, Aldar Properties, said, “Mayan is Aldar’s most exclusive development yet, significantly adding to Yas Island’s residential offering. Its stunning location adjacent to the Yas Links Golf Course on the Arabian Gulf sea, along with its contemporary and luxurious design, make it the ultimate destination for buyers from across the region. With this development, Aldar continues to respond to the growing demand for high quality residential products, exclusive location and premium modern lifestyle living in Abu Dhabi, while it strengthens Yas Island’s position as a leading residential and leisure destination.â€
Aldar’s shares are traded on the Abu Dhabi Securities Exchange and is a profitable, cash generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.
Abubaker Seddiq Al Khoori, Chairman, Aldar Properties PJSC, while talking about the the launch of Yas Acres, said, “Abu Dhabi’s economic fundamentals remain solid, built upon a long term vision for economic diversification. In order to play a key role in our Emirate’s growth plans, this AED 6 billion development is a clear example of Aldar committing to the delivery of only the highest quality homes to the market. Through this we can improve the quality of life of our customers, while also contributing to the local economy.â€
Aldar seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirates. Aldar is playing a leading role in the development and provision of world class retail — Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire
portfolio.
Aldar is driven by a vision to be the most trusted and recognised real estate lifestyle developer in Abu Dhabi and
beyond.
Current Developments
Ansam: Construction is showing steady progress — roof slabs now being completed throughout all buildings; internal block work walls are progressing on the first and second floors; plastering works at basement and ground floor levels. Mechanical, electrical and plumbing first fixes are continuing on ground, first and second floors
Al Hadeel: Across different zones, work is now complete on the steel reinforcement of the ground floor and first floor slabs. Engineering design and drawings are now largely complete with sub-contractor procurement progressing well.
West Yas: Work is advanced on the infrastructure including all precincts, marine, electrical, lighting and telecommunications. Construction at the first school is nearing completion, and mobilisation of the main contractor for the villas has commenced.
Nareel Island: Early works contractors are progressing on site, with activity including; cutting works on the main island, and the levelling and compaction of the northern island.
Shams Meera: Following the award of the early works contractor at the end of 2015, the enabling works teams are on site and progressing well. NOCs are in process, and the main tender has been floated to vendors Mayan: Over 800 premium units include studios, 1, 2, 3, and 4 bedroom apartments, as well as luxury beach houses on Yas Island. Construction expected to commence in Q3 2016.
Al Jimi Mall: Expansion work, expected to be completed by the end of Q1 2018 will add an additional GLA of 33,000 sqm, bringing the total
leased area of retail space to
76,000 sq-mt.
