Aldar project completions accelerating

24 May 2011

Abu Dhabi-based Aldar Properties will complete and hand over several major projects in 2011, the company’s chief executive officer Sami Asad told the Arabian World Construction Summit on 24 May.

“We [will] deliver Motor World next month,” Asad said. “We are going to focus on our delivery in Al-Raha Beach and will complete one part of it next month and the rest by the end of the year.”

“We are focusing on Yas Island, the mall and the water park will open next year,” Asad said.

“We were different from other developers because we were developing sustainable communities.”

In January, the Abu Dhabi government acquired $3bn of Aldar infrastructure on Yas Island, $1.5bn of residential units and issued a $760m bond to a sovereign wealth fund.

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