Aldar and Besix form joint venture company

13 January 2008
Local developer Aldar Properties and Belgium’s Besix have formed a joint venture management contracting company for shopping and entertainment projects including the Ferrari theme park infrastructure and related hotels on the $40b Yas island development in Abu Dhabi.

The shopping mall will take up most of the 300,000 square metres of retail space planned for the island. Ferrari World will be a 250,000 square metre theme park, with 80,000 square metres indoors. It will include museums, a theatre, roller-coasters and a driving school.

Yas island covers 25 square kilometres with 32 kilometres of shoreline. Attractions planned for the island include a water park, hotels, two marinas, polo clubs and residential buildings.

Besix already works with Aldar on several schemes through its local affiliate, Six Construct Abu Dhabi. It is working on an interchange on the Abu Dhabi-Dubai highway and the 10-kilometre-long highway providing access onto Yas island. It is also working on Aldar's Al-Gurm development on the west of Abu Dhabi island (MEED 9.11.07).

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