According to the latest report by Abu Dhabi Chamber of Commerce & Industry, the value of projects announced in the emirate since January 2008 amounts to some AED 768 billion.
The report said that "The projects reflect the unprecedented revival witnessed by Abu Dhabi in fields of infrastructure, real estate, residential, tourist, hotel, industrial and health or service projects." It added that the value of infrastructure and real estate projects to be executed over the next 5 years is expected to reach AED 200 billion.
Mr Falah Al Ahbabi director general of Abu Dhabi Urban Planning Council said that Abu Dhabi government will shoulder 40% of the value of projects while the remaining 60% will come from the private sector.
Some of the prominent projects under way are:
1. Shahama Saadiyat road. The 10 kilometer stretch, built at a cost of AED 1.4 billion, has 10 lanes and will be completed in August 2008. Aldar Properties and the Abu Dhabi Tourism Development & Investment Company are supervising the project.
2. Develop and improve Al Salam Street of Abu Dhabi at a total cost of AED 3 billion to AED 5 billion. Work is under way on flyover junctions in addition to an underpass and a tunnel with a length of about 3 kilometers. Al Salam street will have four lanes in each direction and the ADTDIC is holding talks with Gulf Leighton of Australia to build a tunnel linking Abu Dhabi Island with Al Hudeiriyat Island.
3. The Abu Dhabi government has also earmarked AED 4 billion to develop Al Ain where several projects will be undertaken. They include highways, government buildings, service facilities as well as the expansion of the building of the Higher Colleges of Technology.
4. Work has started on a new aluminum and glass factory worth AED 80 million at Abu Dhabi Industrial City. The Belgian Aluminum and Glass Company, which owns the plant has announced an agreement with Alcoa to benefit from its experience to meet the needs of the local real estate market. The plant will have a production capacity of 360,000 square meters a year.
5. Two labor cities to be built by Aldar Properties in Abu Dhabi and Al Ain. The cities, to be completed in 2010, will accommodate 150,000 workers.
6. Work has started on Damac Properties’ tower, the 24 floor Marina Bay, at Abu Dhabi Star project on Al Reem Island. The tower overlooks the sea. The $500m tower will have retail shops, offices and luxury flats.
7. New oil and gas sector projects have also been initiated. German and Indian firms have won USD 2 billion contracts to build the Abu Dhabi Crude Oil Pipeline.
The report also revealed that the National Investment & Property Management Establishment will launch AED 5 billion worth of projects focusing on the tourism and commercial sector in Abu Dhabi. These include the pact signed by the NIPME with the Rotana Hotel Group to manage a new hotel worth AED 400 million in Abu Dhabi Marina. The hotel will have 600 rooms and will be completed within 3 years. The projects also aim to create more industry in the emirate including the building of steel, glass and aluminum factories. Source
The report said that "The projects reflect the unprecedented revival witnessed by Abu Dhabi in fields of infrastructure, real estate, residential, tourist, hotel, industrial and health or service projects." It added that the value of infrastructure and real estate projects to be executed over the next 5 years is expected to reach AED 200 billion.
Mr Falah Al Ahbabi director general of Abu Dhabi Urban Planning Council said that Abu Dhabi government will shoulder 40% of the value of projects while the remaining 60% will come from the private sector.
Some of the prominent projects under way are:
1. Shahama Saadiyat road. The 10 kilometer stretch, built at a cost of AED 1.4 billion, has 10 lanes and will be completed in August 2008. Aldar Properties and the Abu Dhabi Tourism Development & Investment Company are supervising the project.
2. Develop and improve Al Salam Street of Abu Dhabi at a total cost of AED 3 billion to AED 5 billion. Work is under way on flyover junctions in addition to an underpass and a tunnel with a length of about 3 kilometers. Al Salam street will have four lanes in each direction and the ADTDIC is holding talks with Gulf Leighton of Australia to build a tunnel linking Abu Dhabi Island with Al Hudeiriyat Island.
3. The Abu Dhabi government has also earmarked AED 4 billion to develop Al Ain where several projects will be undertaken. They include highways, government buildings, service facilities as well as the expansion of the building of the Higher Colleges of Technology.
4. Work has started on a new aluminum and glass factory worth AED 80 million at Abu Dhabi Industrial City. The Belgian Aluminum and Glass Company, which owns the plant has announced an agreement with Alcoa to benefit from its experience to meet the needs of the local real estate market. The plant will have a production capacity of 360,000 square meters a year.
5. Two labor cities to be built by Aldar Properties in Abu Dhabi and Al Ain. The cities, to be completed in 2010, will accommodate 150,000 workers.
6. Work has started on Damac Properties’ tower, the 24 floor Marina Bay, at Abu Dhabi Star project on Al Reem Island. The tower overlooks the sea. The $500m tower will have retail shops, offices and luxury flats.
7. New oil and gas sector projects have also been initiated. German and Indian firms have won USD 2 billion contracts to build the Abu Dhabi Crude Oil Pipeline.
The report also revealed that the National Investment & Property Management Establishment will launch AED 5 billion worth of projects focusing on the tourism and commercial sector in Abu Dhabi. These include the pact signed by the NIPME with the Rotana Hotel Group to manage a new hotel worth AED 400 million in Abu Dhabi Marina. The hotel will have 600 rooms and will be completed within 3 years. The projects also aim to create more industry in the emirate including the building of steel, glass and aluminum factories. Source
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