Aldar Set To Complete Slew of ProjectsTuesday, July 14, 2009
Abu Dhabi-based Aldar Properties, one of the UAE's largest real estate master developers, plans to deliver some major projects this year, according to a senior company executive. "We are going to deliver all of the Phase-I developments on the Yas Island, including hotels, marina and golf course ahead of the Formula One Etihad Grand Prix scheduled for November 1," he told Gulf News. The landmark Aldar head office would be ready by December and Al Bandar, a project comprising luxury apartments on Abu Dhabi's Al Raha beach is also expected to be delivered to the end users the same month, he added.
A Dh5.43 billion, 10-lane Shahama-Saadiyat highway project is likely to be completed by early September. The project is a joint venture of Aldar and Abu Dhabi's Tourism Development and Investment Company (TDIC). The highway will link the Shahama-Dubai-Abu Dhabi road to Abu Dhabi city. Shares of Aldar on the Abu Dhabi Securities Exchange fell 6.07 per cent yesterday to close at Dh3.17. Aldar's portfolio of real estate projects in the emirate of Abu Dhabi is estimated at more than $72 billion (Dh264.24 billion)Source: Gulf News