Aldar awards $136M contract for UAE luxury residential project

WCN Editorial Team 4 Apr 2017 MIDDLE EAST BUILDINGS

UAE-based real estate development firm Aldar Properties PJSC has awarded a contract worth AED500M ($136M) to Ghantoot General Construction for the construction of its luxury residential project in Yas Island, UAE.

The development, known as Mayan, will include five, 11-storey buildings featuring 512 units, 19 of which will be luxury beach villas overlooking the Yas shoreline.

The housing units will be in a mix of studios, one-, two-, three- and four-bedroom apartments. A selected number of golf course homes and beach-front villas will be also offered.

Mayan residents will benefit from the multiple swimming pools, children play areas, gymnasiums and retail outlets. The project will be located within minutes of Yas Mall, Yas Marina, Yas Marina Circuit, Ferrari World Abu Dhabi, and Yas Waterworld.

Talal Al Dhiyebi, Aldar chief development officer, said: "As a community of luxury residences in one of the most exciting locations in Abu Dhabi, Mayan caters to the high demand for Yas Island.

"Mayan offers a world-class living experience that will add to the available amenities in the surrounding area. Since we launched Mayan last year, we have seen strong interest and we expect this to continue."

* Data provided by Timetric's Construction Intelligence Center.

 

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