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.