On Tuesday, Aldar Properties, Abu Dhabi’s leading developer, announced a substantial investment exceeding $1.4 billion for the construction of additional office, retail, and hospitality establishments within the city. The new initiatives aim to meet the “robust corporate demand for top-tier office spaces in Abu Dhabi and Saadiyat Island, alongside an increasing desire for upscale residential and retail options in the city,” as stated in a formal announcement to the bourse.

Founded in 2004, Aldar is one of the UAE’s leading real estate developers. It acquires, develops, manages, and invests in real estate assets, including golf courses, hotels, marinas, schools, and hospitals. Its properties are located in several main locations across the emirate.

The developer has an extensive portfolio of residential and commercial developments and has signed up a range of premium hotel brands to operate its planned hotels. Those include Movenpick Hotels & Resorts, Accor, InterContinental, The Ritz Carlton, and Oberoi. Aldar also has several retail malls and shopping centers, including Yas Mall, World Trade Centre Mall, and Saadiyat Grove.

Read here: Volvo Sees Strong Start to 2024 with 10% Sales Increase

Regarding hospitality, the company is working on new hotels in the city, including the upcoming Four Seasons, located on Yas Island. It is expected to open by 2022. The project will feature a mix of serviced apartments and villas and an outdoor pool, fitness center, and spa. The resort is expected to have more than 900 rooms.

The company has also been involved in a series of large-scale villa developments. Last year, it formally launched Mina Zayed villas in Abu Dhabi, and consultants dealing with the company say that more such projects are on the cards.

Besides this, the firm has been investing in retail and community facilities as part of its strategy to enhance the quality of life of its residents in Abu Dhabi. It has a number of malls and shopping centers, including the world-class Yas Mall, World Trade Centre Mall, Saadiyat Grove, and the iconic Yas Marina circuit.

Additionally, the company has been building community amenities like parks and greenery to encourage a healthy lifestyle for its residents. It has also been working on projects aimed at providing international-standard education via Aldar Academies.

The company’s plans are also being augmented by the latest energy efficiency measures to make its buildings greener and more efficient. For instance, it recently partnered with Yellow Door Energy to provide solar power at its developments. The move is expected to help cut carbon emissions and reduce operational costs. This aligns with the government’s plan to achieve a sustainable economy by reducing carbon emissions and improving energy efficiency. This will benefit the environment and improve the country’s energy security. The company hopes to increase its profitability and revenue in the long run.