<As part of the Abu Dhabi government's mandate for Aldar Properties to deliver AED 5 billion worth of strategic projects that will strengthen the emirate's position as one of the best places in the world to do business, invest, live and tourism, Aldar yesterday announced further details on the positive commercial, social and economic impact these projects will have.
The three projects confirm Aldar's position as a strategic partner to the Government of Abu Dhabi, and the long-term value to the company reinforces the commercial value of its third-party development management unit, and the expected profits from the development of the Al Falah expansion, the new headquarters of twofour54, and the infrastructure development management fees on Saadiyat Island.
The projects are also set to benefit the emirate's economy by contributing to a significant influx of capital into the construction sector and through the local supply chain. Aldar has awarded 14 contracts with a total value of AED 3 billion to companies specialized in design consultancy, supervision, construction and contracting, and construction work on the three projects is scheduled to start immediately.
10 billion dirhams in Abu Dhabi real estate
<The AED 5 billion worth of new contracts awarded by Aldar fall under the umbrella of its third-party development management unit, which is currently developing AED 10 billion worth of near-completion projects on behalf of the Government of Abu Dhabi in the emirate and international markets. These contracts will increase the projected gross profit of the third-party development project management unit to AED 150 million per annum over the next three to four years, representing a 50% increase from the AED 100 million per annum previously achieved.
Talalal Al Tayer said.
Talalal Al Dhiabi, CEO of Aldar Properties, said: «These projects will add commercial, economic and social value to the Abu Dhabi community and Aldar's portfolio. They will enhance the attractiveness of the emirate through a distinctive series of residential and commercial projects and open the door to new revenue streams in the construction sector,» said Talal Al Dhiabi, CEO of Aldar Properties. As Abu Dhabi's preferred real estate developer and strategic partner to government entities, we are well positioned to deliver these prestigious projects and enable them to create long-term value.
Selected real estate news links from Issue 175:
عقارات أبوظبي – البناء – عقارات – فحص العقارات – عقارات أبوظبي
Riyadh Chamber hosted the introductory meeting. "Ejar" program explains the benefits and advantages of the unified lease contract for the commercial real estate sector
Real Estate Sorting Program completes sorting of more than 24 thousand real estate units in the first half of 2019”(edit)">Real Estate Sorting Program completes sorting of more than 24 thousand real estate units in the first half of 2019
Real Estate Sorting Program completes sorting of more than 24 thousand real estate units in the first half of 2019
the 33-article system. The Shura Council approves the draft system of ownership and sorting of real estate units.“(edit)”>The 33-article system... Shura Council approves the draft system of ownership and sorting of real estate units
Residential program announces more than 13 thousand beneficiaries of housing and financing options (edit)”>Residential program announces more than 13 thousand beneficiaries of housing and financing options
Residential program announces more than 13 thousand beneficiaries of housing and financing options
Ministry of Finance launches 4 e-services through Etimad digital platform to facilitate financial procedures and transactions (Edit)">Ministry of Finance launches 4 e-services through Etimad digital platform to facilitate financial procedures and transactions
برنامج الأراضي البيضاء يحصل أكثر من 1200 أمر سداد لمساحات إجمالية تتجاوز 411 مليون متر مربع
Government Services Observatory lays out 4 steps for the procedures to inventory and publicize services.
Government Services Observatory lays out the roadmap for e-transactions
Government Services Observatory
For the fourth consecutive month. ITC tops the speed index for May 2019" (edit)">For the fourth month in a row, ITC tops the speed index for May 2019
For the fourth month in a row. ITC tops the Speed Index for May 2019
Saudi Arabian Monetary Authority (SAMA) Launches National Electronic Business Invoicing Platform
SAMA Launches National Electronic Business Invoicing Platform
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Developer Services Center “Completion“ intensifies its preparations to implement the electronic linkage for issuing building permits meets with a number of secretariats
Developer Services Center ”Completion” intensifies its preparations to implement the electronic linkage for issuing building permits meets with a number of secretariats
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“Residential” program invites beneficiaries whose income exceeds 14 thousand riyals to visit the “Support Calculator” online (edit)”>"Residential“ program invites beneficiaries whose income exceeds 14 thousand riyals to visit the ”Support Calculator“ online
“Residential“ program invites beneficiaries who exceed 14 thousand riyals to visit the ”Support Calculator” online
Saudi Arabia's financial system is strong. The Kingdom reserves its permanent seat in the Financial Action Task Force "FATF" (edit)“>Emphasized the strength of the Saudi financial system. The Kingdom reserves its permanent seat in the FATF
Abu Dhabi Real Estate
was valued at $230.786 billion. Foreign direct investment growth thanks to Saudi Arabia's economic diversification
Abdul Latif Jameel Land Company (ALLC) begins construction of 158 apartments in Dari Q residential complex
Abdul Latif Jameel Land Company (ALLC) begins construction of 158 apartments in Dari Q residential complex
Abdul Latif Jameel Land Company (ALLC) begins construction of 158 apartments in Dari Q residential complex
During the auction of Etqan Real Estate Co. Asset Growth Investment Company buys Riyadh Gallery Center for 976.5 million riyals
Tadawul approves the listing of Al Nayfat Finance Company for public offering (Edit)”>Tadawul approves the listing of Al Nayfat Finance Company for public offering
Tadawul approves the listing of Al Nayfat Finance Company for public offering
Penalties include financial penalties. Dismissal from the register will follow the violators
Real Estate Fund adopts an amendment to the mechanism of supporting beneficiaries of the mortgage loan aimed at raising the monthly support ratio (edit)">Real Estate Fund adopts an amendment to the mechanism of supporting beneficiaries of the mortgage loan aimed at raising the monthly support ratio
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