Sunday, March 16, 2008

Details revealed for Aldar's Al Dana in Raha Beach development

The plan details of the $5billion commercial development, Al Dana, located at the center of the Raha Beach development in Abu Dhabi has been revealed by Aldar Properties.

al dana aldar
Several buildings are already under construction, including the four integrated buildings that make up the World Trade Center and the Gateway building, designed by the renowned architect, Rafael Vinoly himself, who designed the new World Trade Centre at New York.

The total investment value at the 10.5kms Al Raha Beach development is worth $48bn, including the $5bn Dana, located at the core of the development. Dana will house Aldar's headquarters, due to be ready by September 2009, apart from three international hotels. Seven other hotels are already housed in the development, on the Yas Island, as a part of the 40-hotel programme, to be developed during the coming years.

Aldar has reported a strong growth of Dh.1.2billion last year, and aims to exceed this figure during the first quarter of this year. The company has already begun delivering few of its developments at Raha Gardens to UAE nationals, and more projects are expected next year.

Aldar's Chief Executive Officer, Ronald Barrot, said "Our sales during the first half of 2008 exceeds the Dh.1.2bn mark and has grown more than Dh.2bn. Apart from exposing Abu Dhabi and Aldar to the international community, we are also always on the look out for partnerships."
With this, the total projects that are under construction in Abu Dhabi exceeds $90bn, including the $40bn Yas Island, and the iconic Old Market in the Abu Dhabi City Center.

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