ABU DHABI – The Abu Dhabi Executive Council has accepted a framework between Aldar Properties and the Abu Dhabi Government for the growth of capital projects in the emirate.
The decision consisted of the recommendation of the Abu Dhabi Executive Committee to build a public-private partnership framework for the development of capital projects in the emirate and the ensuring Memorandum of understanding agreed between Aldar Properties and ADQ.
The framework consists of Aldar taking on the charge of AED30 billion worth of major projects such as Riyadh City, Baniyas North, and developments in the Al Ain and Al Dhafra regions.
Together the projects will provide almost about 25,000 homes for UAE nationals and also linked infrastructure over the coming five years. Provided, Aldar will supply management oversight of AED10 billion costing of Musanada’s projects in education, healthcare, infrastructure, social services, and facilities management.
The projects will give a remarkable positive casing on the wider Abu Dhabi economy.
Aldar’s ‘in-country value’(ICV) programme provides precedence to local contractors, consultants, and supplies-including SMEs- for most contract awards.
Aldar’s fee-based development management business is also leading AED5 billion costing of infrastructure projects awarded by the Abu Dhabi Government in 2019, which consists of Al Falah national housing, Media Zone Abu Dhabi on Yas Island and Saadiyat infrastructure works.