Leading Abu Dhabi-based construction company Aldar has announced has launched one of its most extensive projects to date as part of the company’s Alghadeer property development.
The project, set to cost USD$2.72bn in total, will see Aldar developing a total 14,408 properties across a space of 1.3mn square feet at the site that is situated between the border of Abu Dhabi and Dubai.
“The launch of Alghadeer is clear statement of Aldar's ambition. From its strategic location to its sustainable living initiatives, Alghadeer signals the creation of a new way of living for UAE residents, now and in the future,” said Tala Al Dhiyebi, CEO of Aldar Properties.
“We are confident of the demand for a community which offers a distinct lifestyle - peaceful residential neighbourhoods, within close proximity to the bustling cities of Abu Dhabi and Dubai.”
Whilst the majority of the buildings will be residential properties, the units will also include townhouses, marionettes, office and retail space, hospitality property, education and community amenities.
“This launch further underlines how Aldar is expanding its successful destination-led strategy to additional areas of Abu Dhabi, capitalizing on the UAE's flourishing population as well as our reputation as Abu Dhabi's leading developer,” Tala Al Dhiyebi continued.
The development project will take roughly 15 years to complete, with construction of the first neighbourhood containing 611 homes to commence in 2018, taking three years to complete.