Abu Dhabi – Mubasher: The Abu Dhabi Executive Council has approved a framework between the Abu Dhabi government and Aldar Properties to develop capital projects worth AED 45 billion, according to the Emirates News Agency (WAM).

Under the framework, Aldar will manage major projects valued at AED 30 billion, including Riyadh City, Baniyas North, and developments in the Al Ain and Al Dhafra regions.

These projects will offer around 25,000 homes for UAE nationals over the next five years.

Moreover, Aldar will administratively supervise Musanada’s AED 10 billion projects in education, healthcare, infrastructure, social services, and facilities management.

Awarded by the Abu Dhabi Government in 2019, the company is also managing AED 5 billion infrastructure projects, such as Al Falah national housing, Media Zone Abu Dhabi on Yas Island and Saadiyat infrastructure works.

It is noteworthy to mention that in October, Aldar signed a Memorandum of Understanding (MoU) with Abu Dhabi's state holding company ADQ to take over the development and management of government capital projects worth about AED 30 billion.