TDIC signs Dhs2bn construction MOU with Arabtec for Saadiyat Beach Residences

The total value of the contract, which will include all associated infrastructure works, is expected to exceed Dhs2bn and is due for completion in 30 months.

The project comprises a range of three to eight bedrooms villas and town houses in Mediterranean, Arabian or Contemporary architectural styles, some featuring a private gym, elevator, swimming pool and movie theatre.

The contract will cover the first seven gated communities which make up the prestigious Saadiyat Beach Residences development which will front the UAE's only Gary Player signature golf course, have fabulous see views and be just a five minutes' drive from Saadiyat Island's famed Cultural District with the world's largest single concentration of premiere cultural institutions.

"This project raises Abu Dhabi's residential market to a world class level and is a highly prestigious award for Arabtec," said Riad Kamal, CEO of Arabtec Holding PJSC, the holding company of Arabtec Construction LLC.

"Given TDIC's reputation for working with best-of-breed suppliers, we see this MOU as a sigificant vote of confidence in our abilities".

Saadiyat Beach is a one-of-a-kind district with nine kilometres of uninterrupted white sand beach where nine, five-star resorts will be managed by top hospitality brands.