ALDAR AWARDS AED 440 MILLION IN CONTRACTS FOR NAREEL ISLAND AND AL MERIEF DEVELOPMENTS
ABU DHABI, UAE, 20 JULY 2016: Aldar Properties PJSC (‘Aldar’), Abu Dhabi’s leading listed property development, investment and management company, today awarded contracts of AED 440 million to National Projects and Construction LLC (NPC) for Nareel Island, its master planned island community, and for Al Merief, the distinctive community in Khalifa City. Set to be carried out over a 16-month period, the work on both developments commenced on the 14thof July and covers infrastructure, utilities and public areas, in addition to associated marina works for Nareel Island.
Talal Al Dhiyebi, Chief Development Officer, Aldar Properties PJSC, commented: “As one of the most exclusive developments in the region, Nareel Island truly brings a new level of luxury to Abu Dhabi. Meanwhile, Al Merief is set to become a welcoming, impressive new address to a burgeoning area of the capital. We are very proud of these two very distinct communities, and the enthusiasm received from the UAE National community during each announcement and sales phase.
With the appointment of NPC, we are on track for the completion of both developments in 2017.”
Nareel Island is a premium high-end plot development located on the coast in Al Bateen, spread over two islands. The development consists of 148 villa plots – with some units offering waterfront access – in addition to a stunning lagoon, marina, clubhouse, open parks, private beaches, pontoons and gardens. Aldar awarded the earthworks and marine works tender packages in October 2015 and is currently making steady progress on construction work, with cutting works complete in a number of areas on the main island and revetments nearing completion. Reclamation work for the lagoon has also commenced, and dredging work on the southern island is complete.
On the other hand, Al Merief combines Emirati traditions with the very best modern amenities across its 283 land plots. The villas will be set within serene, beautifully designed lawns, recreational facilities and sheltered gardens, all situated in close proximity to the community’s parks, mosques, an Aldar Academies-operated school, and neighborhood retail centre. All concept and preliminary designs as well as the detailed design phase were completed in 2015.