Emirates: UAE developer Aldar Properties has signed an agreement with the Abu Dhabi government to manage capital projects worth 45 billion Emirati dirhams ($12.25 billion) in the emirate.

According to a report by WAM – the UAE state news agency – the Abu Dhabi Executive Council recommended the establishment of a public-private partnership framework for the development of capital projects in the emirate, which subsequently led to the deal with Aldar.

As part of the framework, Aldar will manage 30 billion dirhams worth of major projects, such as Riyadh City, Baniyas North, and developments in Al-Ain and Al-Dhafra regions, which will deliver around 25,000 homes for UAE nationals over the next five years.

In addition, Aldar will provide management for projects valued at 10 billion dirhams throughout the emirate within the education, healthcare, infrastructure, social services, and facilities management sectors.

Lastly, Aldar will manage 5 billion dirhams worth of infrastructure projects awarded by the government of Abu Dhabi in 2019, which include Al-Falah national housing, Media Zone Abu Dhabi on Yas Island, and Saadiyat infrastructure works.