Abu Dhabi’s Aldar awards $70m contract for Shams Meera development

Abu Dhabi developer Aldar Properties has awarded the main contract package for its mid-market Shams Meera development on Reem Island to Fibrex LLC.

The Dhs258m ($70.2m) contract comprises the construction of the project’s two 25-storey towers totalling 400 apartments.

The two towers will share an underground basement carpark, garden area, swimming pools and a children’s play area.

Aldar said the surrounding neighbourhood would also include canal walks, parks, a public beach, community mosques, schools, hospitals, healthcare facilities and retail outlets.

“From day one the response to Shams Meera has been really encouraging, showing us that there is significant demand for high quality mid-market homes in Abu Dhabi’s prime destinations. Shams Meera, located adjacent to Abu Dhabi’s thriving CBD will offer an enriched community living experience, and we look forward to the development’s completion and the positive impact it will have
on Shams Abu Dhabi and surrounding area,” said Aldar CEO Mohamed Khalifa Al Mubarak.

The development, launched last year, will be close to the planned Shams Park, Shams Marina and East Shams public beach amenities.

Read: Aldar Launches Three New Residential Projects In Abu Dhabi

Earlier this month, Aldar announced a 9.7 per cent rise in its second quarter net profit.

Read: Abu Dhabi’s Aldar Properties Q2 net profit up 9.7%