ALDAR Awards AED 335 Million Contract for Sustainable Destination Alghadeer

Abu Dhabi - UAE, November 01, 2018: Abu Dhabi: Aldar Properties PJSC ('Aldar') today announced appointment of Al Rakha Contracting & General Transport LLC as the main contractor for infrastructure buildings and early works package for the first neighbourhood in the second phase of Alghadeer – a AED 10 billion mega development, situated close to the border of Abu Dhabi and Dubai. The AED 335 million contract comprises construction of 707 maisonettes, townhouses and villas following site preparation work. This neighbourhood is located in the north west section of the masterplan, which features over 14,000 high-quality homes, commercial properties, cultural and institutional amenities and entertainment attractions to be built over the coming 15 years. Talal Al Dhiyebi, Chief Executive Officer at Aldar, commented: "From its location at the centre of the UAE, Alghadeer offers residents a peaceful community with sustainable living initiatives within close proximity to both Abu Dhabi and Dubai. We have seen solid interest in Alghadeer which expands our successful destination-led strategy to new areas of the Emirate." Alghadeer offers an unparalleled opportunity to benefit from living between the cities Abu Dhabi and Dubai with easy access to the UAE's arterial highways, and close proximity to the Dubai Expo 2020 site, which is located in the Dubai South district, near Dubai World Central Airport.

The destination is designed for people who want a healthy, sustainable and smart way of living, while still enjoying convenient access to the city. At the heart of Alghadeer will be HARVEST, a multi-use agricultural led space featuring allotments, as well as THE HUB – a F&B outlet, THE STUDIO – an educational area for training and workshops, THE SHED – a dedicated area for purchasing farming tools and supplies, and THE MARKET – a retail area for freshly grown produce, and THE FIELD - where people can rent plots and grow their own produce. Appealing to those who prefer wide-open spaces and unique recreational amenities, the destination also feature lakes, running and cycle tracks, gym, camping and BBQ sites and a network of walkable gardens and parks lit entirely by solar powered lights. Since its launch in April 2018, Aldar has announced the sale of two plots within Alghadeer which will feature a British curriculum school and a LuLu supermarket and a community clinic in line with handovers of the first new community to customers.