TDIC awards AED370mn contract to Al Jaber Building

Abu Dhabi / WAM

The Tourism Development and Investment Company (TDIC), master developer of major tourism, cultural and residential destinations in Abu Dhabi, announced on Monday that it has awarded the main construction contract for Jawaher Saadiyat to Al Jaber Building LLC, following a competitive tendering process.
The contract is valued at AED 370 million and the project is on a 24-month delivery from mobilisation on site.
Ali Majed Al Mansoori, TDIC’s Chairman of the Board, said, “We are pleased to announce the awarding of the main contract for Jawaher Saadiyat, the latest residential community at the Saadiyat Beach District, which adds to Saadiyat’s appeal as a destination of choice in the market. TDIC has already received much interest from investors for Jawaher due to its prime location overlooking the Saadiyat golf course and the sense of exclusivity it offers to residents. We are confident that once completed, it will drive demand for our real estate offerings on Saadiyat even further.”
Obaid Khaleefa Al Jaber Al Marri, Chairman of Al Jaber Group said, “We are proud to be chosen by TDIC to execute this project. Having previously developed more than 7,000 villas in numerous prestigious projects, Al Jaber Building is looking forward to join hands with TDIC to develop yet another great milestone.”