Aabar Properties, a subsidiary of International Petroleum Investment Company (IPIC), is currently working on constructing 6,000 units located in different areas around Abu Dhabi.
The managing director of Aabar Properties “Suhail Al Mazroui” said while inspecting Aabar’s new projects that the company owns many real estate projects in many areas around Abu Dhabi such as “The Wave” tower in Reem Island.
When asked about project delays he said that delays in construction works have been minimal and acceptable due to economy slowdown.
He added saying that the company is keen on delivering the highest quality which could lead to some delays as quality is the most important thing for Aabar Properties.
About the economic situation in UAE, he said that UAE’s economy is still in growth stage and the impact of oil prices slump on UAE was much lower compared to other GCC countries.
Since its establishment in 2010, Aabar Properties has been developing a number of projects in different areas around Abu Dhabi including Al Reem Island, Al Raha Beach, and Saraya.
The company is considering also boosting its investments in Dubai ahead of expo 2020 in addition to launching new investments in China and Europe.