Al Falah is a master planned community for UAE nationals as part of the Plan Abu Dhabi 2030 directive, which was launched early this year at the Cityscape Abu Dhabi exhibition.
The project will provide 5,000 homes for UAE families as part of the Abu Dhabi goverment’s housing initiative.
Apart from Pembinaan SPK, a spokesman said contracts have also been inked with Al Jaber Building LLC Abu Dhabi and El Seif Engineering Contracting Abu Dhabi for the construction of the 5,000 villas in Al Falah.
“However, Aldar Properties would not want to disclose the details of the contract at this stage.
It is anticipated that the project will be completed by the third quarter of 2012,” the spokesman told Business Times.
Meanwhile, SPK-Sentosa said its subsidiary, Pembinaan SPK had sealed a contract on July 15 with Aldar Properties for the construction and completion of 730 units villas in Al Falah.
In a statement, SPK-Sentosa said Aldar Properties has revised and reduced the contract sum and the scope of work from AED2.7 billion for the proposed construction and completion of 2,080 villas in Al Falah commmunity in Abu Dhabi to AED950 million for 730 villas under the revised Al Falah
project.
Aldar Properties, Abu Dhabi’s leading property company, was listed on the Abu Dhabi Securities market in 2004.
By Business Times (by Kamarul Yunus)
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