Aldar awards $2.3bn contracts as Abu Dhabi economy rebounds from pandemic

Aldar said the volume and value of work undertaken last year highlights an economic rebound in Abu Dhabi following the impact of the pandemic in 2020.

A total of 16 contracts were awarded spanning infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi, Aldar said in a statement.

They were awarded to 14 different UAE-based contractors, resulting in a significant contribution to the local economy, it added.

Through these contracts, Aldar said it has created positive impact via direct and indirect job creation and supported a broad range of local businesses, in line with the UAE’s National In-Country Value (ICV) programme.

The contracts, which include projects within Aldar’s owned and managed portfolio will see a range of residential units, retail spaces, mosques, new and upgraded roads, landscaping, and renovation work delivered within the next three years.

Adel Abdulla Albreiki, CEO at Aldar Projects, said: “Aldar continues to be a key strategic partner in enhancing Abu Dhabi’s profile as a world-class destination by delivering on owned and managed projects across the capital.

“Generating a positive impact on the local economy is a core priority for Aldar, so we are proud to support UAE based businesses in such an impactful way.

“Our contribution will be further bolstered throughout 2022 as we press ahead with our plans to develop a broad suite of residential, commercial, educational, and retail offerings.”

Already in 2022, new development project contracts have been awarded to UAE-based businesses across two projects on Saadiyat Island, with plans for further work to begin throughout the year.

As part of the company’s wider ESG strategy, Aldar said its procurement sustainability strategy includes standards on worker welfare as well as environmental and societal impacts, ensuring that ESG best practices are embedded throughout its supply chain.