Contracts awarded for two real estate projects
Abu Dhabi developer Aldar Properties has awarded AED440m ($120m) of contracts to the local National Projects & Construction for work on its Nareel Island and Al-Merief developments.
Both contracts will be completed over the next 16 months and include building and installing infrastructure, utilities and public areas. At Nareel Island the contract also includes marine works.
Nareel Island consists of two islands, each comprising of 148 waterfront villa plots for UAE nationals to build bespoke homes. The development is located next to the Emirates Palace hotel and Etihad Towers development on Abu Dhabi Island, overlooking the Gulf.
Aldar says it 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 several 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.
The Al-Merief residential development in Khalifa City has 283 land plots together with parks, mosques, a school, and neighborhood retail centre. Aldar says all concept and preliminary designs as well as the detailed design phase were completed in 2015.
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