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Home Real Estate

Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

The projects will subsequently add to the growth in the wider Abu Dhabi economy

The Global Economics by The Global Economics
January 23, 2021
in Real Estate, Top Stories
Reading Time: 1 min read
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Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

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The Abu Dhabi Council has made approvals for a partnership framework between the #Abu Dhabi Government and Aldar Properties for AED45 billion worth of capital projects in the emirate. 

The decision follows the Memorandum of Understanding (MoU) between #ADQ and #Aldar Properties and the recommendation of the Abu Dhabi Executive Committee of initiating a public-private framework for projects in the emirate. 

As per the framework, Aldar will be taking up the management work of projects associated with developments like Riyadh City, Al Ain, Al Dhafra, and Baniyas North regions.

Additionally, Aldar Properties will cater management supervision of Musanada’s projects worth AED30 billion in the fields of healthcare, education, infrastructure, facilities management, and social services. 

All in all, the future plans for 5 years include catering around 25,000 houses for UAE national and related infrastructure. 

Finally, Aldar Properties will supervise infrastructure projects awarded by the government of Abu Dhabi in 2019, covering Saadiyat, Media Zone Abu Dhabi on Yas Island, and Al-Falah national housing works. 

The last three months saw shares in Aldar shoot up to around 15% gain as the trading started, before going down to 8%. In the recent times, Aldar Properties is the biggest listed developer in the UAE. 

Tags: AbuADQAldar
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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