Al Farah scores first phase of Aldar’s ‘Noor Al Ain’ project

zoom

The US $544 million Noor Al Ain development will include six residential towers, a hotel, retail space, and a water park with an indoor beach.

Abu Dhabi's Al Farah Contracting has picked up the US $4.9 million (AED18 million) contract for the first phase of Aldar Properties' Noor Al Ain development in Al Ain.

The contract involves the extension of the west wing of the Al Jimi Mall, which forms a focal point of the $544 million mixed-use development. The mall will eventually be trebled in size.

Noor Al Ain has been designed by UK architects Benoy.

The 177,900m² development will include six residential towers with over 1,300 apartments, a 300-room hotel, 8,000 car parking spaces and 160,000m2 of retail entertainment space including a water park and an indoor beach.

"We are undertaking a comprehensive redevelopment plan for the Al Jimi Mall," said Ron Barrott, CEO, Aldar Properties.

"We will provide a new focal point for Al Ain, ensuring the region's character and charm is maintained. We have engaged leading architects Benoy, which is also working on the Al Raha Beach project, to add value without compromising the surrounding areas."

The construction contract for the main project will be put to tender in the next few months.

"I would hope to sign that contract within the next three to four months. So we are looking for good, confident contractors wishing to operate in Al Ain," added Barrott. "We probably won't go into a joint venture on this project as we have good local contractors available."

Aldar Properties tied up with contractor Laing O'Rourke to undertake projects in Abu Dhabi last November.

And it recently joined forces with three Abu Dhabi property developers - Reem Investments, Sorouh Real Estate and Al Qudra Real Estate - to undertake a major project in Morocco, which will be announced soon.

The company also has plans to invest in the international market.

"This is in the pipeline. All I can say is that we will be investing in a mature property market. It will not be America. It will be Southern hemisphere or Europe," he added.

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM