By Andy Sambidge
Contracting unit of Al Jaber Group is hired to build villas on Hidd Al Saadiyat project in Abu Dhabi
Saadiyat Investment & Development Company (SDIC) has awarded Al Jaber Building a AED1.77bn ($481m) contract to build luxury villas in Abu Dhabi.
The contracting unit of Al Jaber Group has been hired for the Hidd Al Saadiyat Villas Development for the construction, completion and handover of high-end beach front villas, a statement said.
The project is being built on an area covering nearly 1.5 million sq m with 7km of waterfront and includes 462 villas and two community centres.
The project is slated to be completed within three years.
"The development will set the benchmark for high-end residential development and will live up to the Saadiyat Island's promise of first class living. The project is scheduled for completion in March 2016," the statement added.
Hamad Rashed Al Neaimi, chairman of SDIC, said: "We are pleased to appoint Al Jaber Building to develop Hidd Saadiyat Villas. Hidd Saadiyat Beach Front Villas is an exceptional development that uplifts luxury living standards in the UAE and the region."
Obaid Khaleefa Jaber Al Murri, chairman of Al Jaber Group, added: "We are delighted to be awarded a third huge project at Saadiyat Island... This project is set to be an important landmark development and Al Jaber Group is committed to delivering the highest standards of quality and service."