Aldar awarded over AED8.5 billion in development project contracts in 2021

Aldar awarded over AED8.5 billion in development project contracts in 2021

ABU DHABI, 8th February, 2022 (WAM) -- Aldar Properties (Aldar) announced today, that contracts awarded across its development projects in 2021 reached more than AED8.5 billion.

The volume and value of work undertaken by Aldar in 2021 highlights an economic rebound in Abu Dhabi following the impact of the pandemic in 2020 and a boost to the emirate as a destination to live, work, and play.

Sixteen contracts were awarded spanning infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi. They were awarded to 14 different UAE-based contractors, resulting in a significant contribution to the local economy. Through these contracts, Aldar has created a positive impact via direct and indirect job creation and supported a broad range of local businesses, in line with the UAE's National In-Country Value (ICV) programme.

Adel Abdulla Albreiki, CEO of Aldar Projects, said, "Aldar continues to be a key strategic partner in enhancing Abu Dhabi's profile as a world-class destination by delivering on owned and managed projects across the capital.

"Generating a positive impact on the local economy is a core priority for Aldar, so we are proud to support UAE-based businesses in such an impactful way. Furthermore, almost all products used by our partners are being sourced locally, which helps circulate additional money back into the local economy and helps mitigate supply chain issues. Our contribution will be further bolstered throughout 2022 as we press ahead with our plans to develop a broad suite of residential, commercial, educational, and retail offerings."

In 2021, Al Shafar General Contracting (ASGC) was awarded a contract for mixed-use development and infrastructure works at Saadiyat Grove and Al Gurm, respectively. Fibrex won a contract to develop villas at Noya, Trojan was awarded the villa development contract at Yas Acres, and Nael General Contracting was awarded the contract to develop villas at Wathba.

Infrastructure projects were awarded to National Projects & Construction (NPC), Nael & Bin Harmal Hydroexpert (NBHH), Western Bainoona Group (WBG), and Hilalco. Further projects were awarded to Al Ryum, Gulf Landscape, ATS, Emirates Links, ENGSOL and Dutco.

Already in 2022, new development project contracts have been awarded to the UAE-based businesses across two projects on Saadiyat Island, with plans for further work to begin throughout the year.

Aldar's focus on supporting local businesses is part of its commitment to the National ICV programme. In late 2019, extended the programme to the real estate sector to drive growth and diversification of the economy through increased employment opportunities for nationals and business opportunities for the UAE-based companies. Aldar also encourages its contractors to build their own ICV supply chains to maximise the programme's impact.

As part of the company's wider ESG strategy, Aldar's procurement sustainability strategy includes standards on worker welfare and environmental and societal impacts, ensuring that ESG best practices are embedded throughout its supply chain.