Aldar awards nearly Dh4 billion contract in Kazakhstan to Arabtec-led JV

Abu Dhabi, june 18, 2013 (WAM) - Aldar Properties, Abu Dhabi's leading property development company, and Arabtec Holding PJSC, announced yesterday the award of a contract valued at nearly Dh 4 billion to an Arabtec-led JV for the development of the Abu Dhabi Plaza in Astana, Kazakhstan. The joint venture brings together Arabtec and Consolidated Contractors Company SAL (CCC), two key players in the local, regional, and international construction industry. In its capacity as development manager on behalf of the project owner, Aldar properties awarded the multibillion dirham contract to develop Abu Dhabi Plaza through its subsidiary Aldar EuroAsia. The project, a 500,000 square metre mixed-used development comprising five towers, the tallest of which will measure 320 metres. Construction is scheduled to commence shortly and the project is due for completion in 2017. The complex will contain 566 luxury residential apartments, 107,000 square metres of commercial office space, a five-star hotel with additional serviced apartments, a 50,000 square-metre retail podium and four large basement car parks with space for more than 4,000 vehicles. The Abu Dhabi Plaza is a response to the growth in the number of visitors to Kazakhstan's capital city and reflects the growing relationship between the UAE and Kazakhstan. – Emirates News Agency, WAM