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July 12, 2024
Business

Aldar’s AED22 billion contracts boost UAE companies

Aldar Properties (“Aldar”) has disclosed the allocation of 49 contracts, totaling AED22 billion, for a spectrum of projects encompassing infrastructure, residential, commercial, and mixed-use developments throughout Abu Dhabi in 2023. These contracts were granted to 36 UAE-based firms, with nearly half of the value – AED10.5 billion – being reinvested into the local economy, aligning with the National In-Country Value (ICV) program initiated by the UAE government as part of the Projects of the 50.

Aldar's AED22 billion contracts boost UAE companies

The awarded contracts will lead to the creation of villas, townhouses, apartments, Grade A offices, retail spaces, schools, and major highways in pivotal growth zones of Abu Dhabi, including Yas IslandSaadiyat Island, and Al Shamkha. Adel Abdulla Albreiki, CEO at Aldar Projects, expressed, “The substantial contract value awarded by Aldar in 2023 signifies Abu Dhabi’s continuous and accelerated development as a prime destination for residence, business, and tourism.”

Aldar prioritizes sustainability as a cornerstone of its procurement process, meticulously ensuring that all contractors not only meet but exceed expectations in contributing positively to its ambitious Net Zero commitments. These commitments are comprehensive and multifaceted, embracing a wide array of critical factors essential for mitigating environmental impact and promoting ecological harmony.

Among these pivotal factors are the adoption of low carbon design principles, the optimization of supply chains to minimize carbon footprint, the implementation of green construction practices aimed at reducing energy consumption and waste generation, and the promotion of circular economy initiatives that prioritize resource efficiency and waste reduction throughout the project lifecycle. By integrating these sustainable practices into its procurement framework, Aldar underscores its unwavering dedication to environmental stewardship.

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