Aldar to build $2.1bn Saadiyat Grove mixed-use scheme in Abu Dhabi

WCN Editorial Team 26 Nov 2019 MIDDLE EAST BUILDINGS

Aldar Properties, a real estate development, management and investment company, has announced the launch of Saadiyat Grove, an AED8bn ($2.1bn) mixed-use development in Abu Dhabi.

Located in the heart of Abu Dhabi Cultural District on Saadiyat Island, the 242,000m² Saadiyat Grove mixed-use community will be built by Aldar Properties.

The project will feature 60,000m² of experiential retail, entertainment, and leisure space that create an inclusive community, as well as 3,706 residential units.

Additionally, the mixed-use scheme will comprise a selection of hotels, and co-working spaces to support new enterprises and startups.

The Saadiyat Grove community will be developed in phases with phase one involving the completion of all design works and signing first construction contract for enabling and piling works.

Scheduled for completion in 2022, Phase 1 of the project will also include the construction of 606 residential units and around 200 retail units featuring a range of amenities such as gyms, pools, kids play areas, community gardens, and a running track.

Aldar Properties chairman Mohamed Khalifa Al Mubarak said: "Saadiyat Grove is set to transform the urban landscape of Abu Dhabi. The project is of strategic importance for the Capital at both the cultural and social levels.

"Saadiyat Grove will be the heart of Abu Dhabi's new cultural district, only a short distance away from the Louvre Abu Dhabi and future prominent cultural landmarks such as the Zayed National Museum.

“It is also close to the Abrahamic Family House which nurtures the values of peaceful co-existence and acceptance. By launching Saadiyat Grove, we reaffirm our commitment to playing an active role in enhancing Abu Dhabi's position as a leading global destination that offers a unique living experience."

For the project, Aldar plans to implement its 50% ‘In-Country Value Programme’, which calls for sourcing local goods and services while creating employment opportunities for Emiratis.

Image: Officials from Aldar among others during the launch of Saadiyat Grove mixed-used development. Photo: courtesy of Aldar.

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US



World Construction Network | is a product of GlobalData. Copyright © 2021 GlobalData. All rights reserved.