- Yas Acres nearing completion and Alghadeer reaches final quarter of development
- Significant progress made on other projects throughout Abu Dhabi, including Reflection on Reem Island
Abu Dhabi, UAE: Aldar Properties (‘Aldar’) today delivered its latest update on projects under development across Abu Dhabi.
Considerable progress is being made across Aldar’s entire development portfolio on Yas Island. Yas Acres, the flagship waterfront and golf course villa and townhouse development, is nearing full completion, with handovers well underway. Upcoming activities will focus on snagging works and continued handovers to customers.
Meanwhile, the Water’s Edge development near Yas Marina has maintained steady progress to reach over 60% completion, with external landscaping and internal road works commencing throughout the 13 mid-rise residential blocks. Excavation and deep infrastructure utilities works have also continued at pace for the 238 land plots at Aldar’s latest waterfront development, Lea.
At Reflection on Reem Island, strong progress is being made across the 374-apartment development, and has surpassed the quarter-complete milestone, with block work and slab-casting advancing rapidly in both towers. The two towers at Reflection will provide residents with stunning views of the sea, mangroves, nearby park, or Abu Dhabi’s modern skyline.
Open to all nationalities, the 422,370 square metre community at Saadiyat Reserve has witnessed major milestones including awarding the contract and the mobilisation of the contractor on site in late June. Construction activities are set to commence imminently, focusing on infrastructure progress including sewerage, water, power, irrigation and gas works, as well as road works and street lighting.
Progress continues at the Alreeman community in Al Shamkha, nearing the half-complete milestone. The mixed-use development has seen shallow utilities such as gas networks and irrigation this quarter, with upcoming work focusing on substation foundations and the construction of irrigation-pumping stations. Aldar’s Alreeman II community, dedicated to UAE Nationals, has seen preparation works for sewer network excavation and dewatering drilling activity commence, with sewerage excavations and installations set to take place in the coming months.
The spacious Alghadeer development has reached the final quarter of development, with all waterproofing works complete, along with the majority of internal painting works finished for all residences. The completion of all finishing works will continue throughout the next quarter, with significant progress being made on landscaping throughout the community.
-Ends-
For further information, please contact:
Obaid Alyammahi
Aldar Properties
+971 2 810 5555
Sarah Abdelbary
Brunswick
+971 2 234 4600
ALDAR@brunswickgroup.com
About Aldar
Aldar Properties PJSC is the leading real estate developer in Abu Dhabi with USD10 billion in assets, a 75 million sq. m land bank, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and wider Middle East region.
From its beginnings in 2005 through to today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital City in addition to other key areas of the Emirate.
Aldar develops exciting and innovative projects, such as the internationally recognized HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, in addition to Yas Island’s F1 circuit.
Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.
Aldar seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirate. Aldar is playing a leading role in the development and provision of world class retail - Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire portfolio.
Aldar is driven by a vision to be the most trusted and recognized real estate lifestyle developer in Abu Dhabi and beyond.
For more information on Aldar please visit www.aldar.com
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
