Meera On Reem Island Readies for Customer Handover This Year

Abu Dhabi - UAE, October 24, 2018: Abu Dhabi, UAE: Aldar Properties PJSC ('Aldar') today provides its latest quarterly update on its projects under development across key destinations in Abu Dhabi. Meera, Aldar's master-planned community on Reem Island, is almost complete ahead of the start of customer handovers this quarter with final approvals and certificates being obtained from relevant authorities. Also on Reem Island, subcontractors have now been appointed for all necessary works at The Bridges, Aldar's six building development launched in April 2017. Slab work and blockwork is progressing well on the three buildings in phase one while excavation work is almost complete on the remaining three buildings. Show villas are now complete and open for viewing at Yas Acres, Aldar's flagship golf and waterfront development on Yas Island. Structural works on all 652 launched villas are almost complete and main utility networks are finished. Yas Acres will begin handover to customers in 2019, expanding the existing residential population on Yas Island following the handovers of Ansam and West Yas.

Construction is progressing well at Yas Island's two waterfront apartment communities with enabling works complete across the entire 13 building Water's Edge development, and concrete, casting and vertical works underway across all five buildings within Mayan. Mamsha Al Saadiyat, the 1.4 km mixed-use project at the Saadiyat Cultural District showcased at October's Cityscape Global, is on track for handover next year. Building façade works at the luxury beach-front residences are substantially complete across all buildings and MEP and finishes work are entering the latter stages of completion. Work is also progressing well on Jawaher Saadiyat, the exclusive gated community on Saadiyat Island, overlooking the region's first championship beachfront golf course, Saadiyat Beach Golf Club. Interior finishes on the 83 four-to-six bedroom townhouses and villas are under way and the show villa is nearing completion. The extension of Al Jimi Mall in Al Ain, which will add 45,000 sqm of gross leasable area, is on track for an imminent opening. Final approvals are now underway for the city's first outside 'Retail Park' concept which will feature 88 new stores and Al Ain's first eight screen Vox Cinema.