The Eastern Precinct is now protected with a completed marine sea wall, from the joint venture company, Soletanche Bachy - NSCC.
The Al Raha Beach project is formed of 11 precincts and has a total development area of 12 million square meters. Each precinct or village has a unique characteristic which sets it apart from its neighbouring village in the development.
Commenting on this milestone, Ronald S. Barrott, CEO Aldar Properties stated: "The Al Raha Beach development has made steady and resounding progress. We are pleased to witness this highly anticipated waterfront development move forward to reach this milestone. Soletanche Bachy - NSCC has performed very well and has met all the challenges created by this fast-track project."
The completion of this milestone has allowed basement excavation to proceed at building sites, followed by ground slab construction. Sand fill in the canals will remain in place to allow access for construction equipment throughout the development.
Michael Cox, Project Director Aldar, added: "Excavation of the canal fill material is planned to commence in the last quarter of 2009 with the sand being used in construction of the western section of the development."
Patrick Braun, Project Manager for Soletanche Bachy - NSCC commented: "The JV was proud to have completed the 20.2 kilometres of quay walls and 20 million cubic meters of ground treatment works on budget and within the 13-month programme. The project is a major reference for both Joint Venture partners from a local and global perspective. This is one of the largest diaphragm wall projects ever undertaken and in terms of productivity, surpasses anything that has been achieved previously."
Covering over 570 hectares of land, the Al Raha Beach development will be the new gateway to Abu Dhabi located off of the main highway into the Emirate. The estimated residential population will be 120,000 with approximately 200,000 people on the development during the day. The Al Raha Beach development is set to become a world-class mixed-use waterfront community.
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Aldar's Al Raha Beach project completes marine sea walls
- United Arab Emirates: Saturday, February 09 - 2008 at 15:37
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Aldar, the renowned Abu Dhabi-based international property developer has reached a major milestone on the esteemed Al Raha Beach development.
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Posted by Medilyn Manibo, Assistant News EditorSaturday, February 09 - 2008 at 15:37 UAE local time (GMT+4)
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About Aldar Properties
Aldar Properties PJSC is a premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. Aldar was created to spearhead developments of Abu Dhabi's strategic sites was created to fast track real estate investment opportunities within Abu Dhabi and the Emirates in order to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
Since its inception in 2004 through a share offer (IPO) of Dhs1.5bn ($408m) on the Abu Dhabi Securities Market, Aldar has already announced more than $60bn worth of developments. The Aldar issue, the largest IPO in the history of the UAE at the time, was 448 times oversubscribed and raised an unprecedented Dhs373bn ($102bn) in demand. Aldar's market capitalization is $3.5bn as of May 30th 2007. Total retail area across all developments is currently over 1.5 m square meters. The company is owned by leading Abu Dhabi institutions, founder shareholders and individual investors.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, and the YAS Island project which is to include a Warner Bros and a Ferrari theme park.
Aldar's first international expansion was announced in August 2007 via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia. This was followed in October 2007 with plans announced to build a mixed-use development in Kazakhstan.
For more information, please contact:
Rosanne Blake
Buchanan Middle East
Mob: +971 50 2262 771
Aldar Properties PJSC is a premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. Aldar was created to spearhead developments of Abu Dhabi's strategic sites was created to fast track real estate investment opportunities within Abu Dhabi and the Emirates in order to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
Since its inception in 2004 through a share offer (IPO) of Dhs1.5bn ($408m) on the Abu Dhabi Securities Market, Aldar has already announced more than $60bn worth of developments. The Aldar issue, the largest IPO in the history of the UAE at the time, was 448 times oversubscribed and raised an unprecedented Dhs373bn ($102bn) in demand. Aldar's market capitalization is $3.5bn as of May 30th 2007. Total retail area across all developments is currently over 1.5 m square meters. The company is owned by leading Abu Dhabi institutions, founder shareholders and individual investors.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, and the YAS Island project which is to include a Warner Bros and a Ferrari theme park.
Aldar's first international expansion was announced in August 2007 via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia. This was followed in October 2007 with plans announced to build a mixed-use development in Kazakhstan.
For more information, please contact:
Rosanne Blake
Buchanan Middle East
Mob: +971 50 2262 771
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