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10-Jul-2019

Aldar partners with gov’t on AED5bn worth of projects

Multiple government entities partnered with Aldar Properties (Aldar) to deliver AED5bn projects across a number of key destinations in Abu Dhabi. The projects cover an AED2bn contract to complete infrastructure in Saadiyat Island, an AED2bn contract to develop 899 villas in Al Falah and an AED1bn contract to develop twofour54 campus on Yas Island. The company will appoint contractors for the three projects immediately with phased completions starting as early as 2021, according to Aldar. 
 
Aldar Properties: EGP1.97 as of 9 Jul. 2019, Rating: Buy, TP: AED2.20/share, MCap: USD4,217mn, ALDAR UH/ALDR.AD