Aldar Properties awards two development contracts worth $120M

WCN Editorial Team 22 Jul 2016 MIDDLE EAST BUILDINGS

Abu Dhabi-based developer Aldar Properties has awarded contracts worth AED440M ($120M) to National Projects and Construction (NPC) for its Nareel Island and Al Merief communities in Abu Dhabi.

Nareel Island is located on the coast in Al Bateen and is spread over two islands. It will include 148 villa plots, a lagoon, a marina, a clubhouse, open parks, private beaches, as well as pontoons and gardens.

The earthworks and marine works tender packages have been awarded in October 2015. Reclamation work for the lagoon has also started, and dredging work on the southern island is complete.

Al Merief project is located in Khalifa City and features 283 land plots. The villas will be located within recreational facilities and sheltered gardens, in close proximity to the community's parks, mosques, an Aldar Academies-operated school, and neighbourhood retail centre.

The development’s conceptual and preliminary designs were completed in 2015.

Aldar Properties’ chief development officer Talal Al Dhiyebi said: "As one of the most exclusive developments in the region, Nareel Island truly brings a new level of luxury to Abu Dhabi. Meanwhile, Al Merief is set to become a welcoming, impressive new address to a burgeoning area of the capital.

“With the appointment of NPC, we are on track for the completion of both developments in 2017."

Work on both projects is expected to be delivered over a 16 month-period.

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