Abu Dhabi (Al Ittihad)
The Abu Dhabi Executive Council approved a framework for the implementation of government capital projects in the emirate between the government of Abu Dhabi and the Aldar Real Estate Company (Aldar). This decision comes based on the recommendation of the Executive Committee of the Executive Council of the Emirate of Abu Dhabi to develop a framework for partnership between the public and private sectors to implement government capital projects in the emirate, and the Memorandum of Understanding that followed between Abu Dhabi Development Holding Company (ADQ) and Al Dar.
The framework includes the management of a group of major projects with a total value of 30 billion dirhams, including the “Riyadh City” project and the “North Bani Yas” project, in addition to other projects in the Al Ain and Al Dhafra regions, which will be combined upon completion of their development within five Years of more than 25 thousand homes for citizens, in addition to the associated infrastructure. Aldar Properties will also undertake administrative supervision of the projects of the Abu Dhabi General Services Company (Musanada), which is currently implementing a group of major projects worth 10 billion dirhams in various fields such as education, health care, infrastructure, social services, and facilities management.
These important projects are expected to have a positive impact that supports the growth of Abu Dhabi’s economy in general. The Aldar In-Country Value Enhancement Program will give priority to local contractors, consultants and suppliers, including SMEs, to work on these projects.
It is noteworthy that the Development Projects Management Unit at Aldar is now managing a group of major infrastructure projects with a total value of 5 billion dirhams, after it obtained a contract from the Abu Dhabi government in the year 2019 that included the Al Falah National Housing Project and the headquarters of the Abu Dhabi Media Zone on Yas Island, in addition to Infrastructure development works on Saadiyat Island.