Aldar announces ''strong progress'' on development projects

United Arab Emirates, January 11, 2018

Aldar Properties (‘Aldar’) will continue to hand over homes at its Ansam and Al Hadeel developments as well as commence the hand overs of plots on Nareel Island and at Al Merief during the first quarter of this year, according to a company statement. Construction also continues to make strong progress across Aldar’s remaining live developments.

Ansam is the first residential development on Yas Island to be handed over to residents and marks the establishment of the island’s residential population. Delivery of homes to customers at Ansam commenced in December and will continue throughout this quarter. At Al Raha Beach, hand-overs of homes at Al Hadeel also commenced in December.

Hand-overs of plots on Nareel Island, a high-end plot development in the Al Bateen area of Abu Dhabi island, are scheduled to start this month. Plots at Al Merief, a residential community specifically designed for UAE Nationals in Khalifa City, will also be handed over this quarter.

On Yas Island, Aldar’s under-construction residential developments are on track at various stages. At West Yas, interior work is progressing well, and nearing completion in certain areas, with over 300 villas under the final fix-and-testing stage, in preparation for hand-over to customers. In addition, the school, mosque and retail building have already been delivered.

At the Mayan, golf and waterfront apartment development, building activity continues with shoring, enabling and reinforcement works continue across the entire project. At Yas Acres, villa and townhouse construction is well under way in the three precincts launched to date, with work on the main utility networks progressing across the entire site.

On Reem Island, the main works will commence at The Bridges in the early part of the second quarter of the year, following completion of the enabling and piling works which are well under way. The Meera project continues to make steady headway, with glazing and façade work nearing completion on both buildings.

In Al Ain, work continues on the expansion of Al Jimi Mall, which is due to be completed this year. The expansion is set to add 33,000 sq.m. of retail, leisure and F&B space, for a total of 76,000 sq. m.

WAM