Saadiyat Development & Investment Company (SDIC) Awards Al Jaber Group AED 1.77 Billion Contract

2013-06-07

Abu Dhabi, June 2013 — Saadiyat Development & Investment Company (SDIC) a privately owned Abu Dhabi based company awarded Al Jaber Building, a Company of Al Jaber Group and one of the UAE’s leading contractors the Hidd Al Saadiyat Villas Development contract in Abu Dhabi. The contract is worth well over 1.77 billion Dirhams and specifies Al Jaber Building for the construction, completion and handover of the fully functional high-end beach front villas.

The new Hidd Saadiyat Villas development extends on a land area covering nearly 1.5 million square meters with 7 kilometres of waterfront. It is a huge project of some 456,500 square meters of built-up area located on 1.1 Million square meters of land. It includes 462 luxurious villas and 2 community centers, and set to be completed within 1004 days. Hidd Al Saadiyat offers a unique living environment where beach front is at the doorstep of the future residents and ample Parks for the community. The Development will set the benchmark for high-end residential development and will live up to the Saadiyat Island’s promise of first class living. The project is scheduled for completion in March 2016.

Following the signing ceremony of the contract, H.E.Hamad Rashed Al Neaimi, Chairman of SDIC commented, “We are pleased to appoint Al Jaber Building to develop Hidd Saadiyat Villas. This is a place for those who have fond memories of the Island and its culture, traditions, and who are passionate about preserving it for the enjoyment of future generations. Hidd Saadiyat Beach Front Villas is an exceptional development that uplifts luxury living standards in the UAE and the region. We have gone through a meticulous selection process of our partners and look forward to a successful relationship with Al Jaber Group”.

H.E. Obaid Khaleefa Jaber Al Murri, Chairman of Al Jaber Group commented saying, “We are delighted to be awarded a third huge project at Saadiyat Island and are honored to be able to work with Saadiyat Development & Investment Company. This project is set to be an important landmark development and Al Jaber Group is committed to delivering the highest standards of quality and service. To be the key contractor on such an auspicious project is a great privilege for Al Jaber Building and an important continuation of Al Jaber Group’s historic and ongoing dedication to develop the UAE and wider region”. H.E. Mohammed Al Jaber, Vice Chairman & President of Al Jaber Group said, “Hidd Al Saadiyat is an exciting project and Al Jaber Building is committed to delivering a world-class development. With great experience having previously developed more than 7,000 villas in numerous prestigious projects, Al Jaber Building is looking forward to helping SDIC achieve a phenomenal success”.

SDIC’s selection of Al Jaber Building for the project followed a rigorous selection process and recognizes Al Jaber Building’s expertise, experience and dedication to always delivering excellence in service and quality.

Hidd Al Saadiyat represents luxury and tranquility on a private estate, set in an area of extraordinary natural beauty, just minutes from downtown Abu Dhabi. Hidd is a maritime term used by local sea-farers referring to a body of land that stretches out into the open water, and it best describes the location of the Development.