Buro Happold wins Abu Dhabi’s Louvre

UK-based engineering consultancy, Buro Happold, has won the engineering services contract for the Louvre Abu Dhabi.

The developer of the project is Abu Dhabi-based Tourism Development and Investment Company (TDIC).

The museum has been designed by 2008 Pritzker prize winner Jean Nouvel and is one of five cultural institutions planned for Saadiyat Island.

Buro Happold will now work with Jean Nouvel, under a co-operation agreement, on concept validation of the initial design and on the schematic design of the museum, which is due to open in 2012.

Buro Happold's scope of work includes engineering and planning for structural, civil, site traffic, marine and environmental works.

"Buro Happold was selected because of its holistic approach to engineering, its track record as an environmentally responsible and responsive organisation and its appreciation of the project's standing within the social, architectural and aesthetics fields," said Lee Tabler, CEO, TDIC.

The engineering design has begun and construction on the project is expected to start in early 2009. The cultural district will also include the Sheikh Zayed National Museum and a Guggenheim Abu Dhabi Museum.

/Arabian Business/

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Shanghai giant snares US $149mn Time Towers deal

Abu Dhabi-based real estate developer, 5 Pioneers Property Development, has awarded a US $149 million (AED547 million) contract to China's Shanghai Lonjian Industry Corporation for the construction of Time Towers in the Najmat Abu Dhabi project on Al-Reem Island.

Construction of the towers will begin this month and has a completion time of 28 months.

Khalid Al-Shamsi, chairman, 5 Pioneers Property Development said that the project consisted of two towers, one residential and the other commercial, both joined by four floors containing a parking lot and shops.

The total parking space accommodates 1112 cars, with 25 floors of offices and 26 floors containing 318 residential units.

The commercial manager of Shanghai Lonjian Industry Ramzi Malouf, said the corporation was the largest private company in the field.

According to Malouf, the corporation was also granted an international award for quality over a period of ten years, during which it has achieved a series of huge construction projects.

Malouf also said that construction industry in the UAE was one of the largest in the region, and that it contributed largely to domestic production.

"This in turn has made it a magnet for foreign investment and construction projects for conglomorate construction companies," he said. Shanghai aims to complete the towers in record time.

/Arabian Business/

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Work progressing well on Reem Island in Abu Dhabi

Work on Reem Island, the landmark waterfront residential, commercial and business project currently being built on a natural Island, located just off the north-eastern coast of Abu Dhabi city is intensifying and on schedule, according to resident regulatory authority and regional infrastructure developer Bunya.

Reem Island is expected to become a premier residential and commercial address in the city and introduce a new way of living in Abu Dhabi.

Bunya’s C.E.O. Tariq Hatim Sultan, said that 100% of the infrastructure design is finalised and 50% of the advanced enabling earth works for roads embankment have now been completed. When finished, the main arterial road networks will criss-cross some 25 kilometres over the 840 hectare natural island, which will be home to approximately 200,000 residents.

“The key infrastructural components for Reem Island are moving closer to reality,” he said. “We are on track to provide effective and efficient regional roads and utilities for phase 1 development before end of 2009.”

Bunya is owned by the three master developers of Reem Island, Tamouh Investments LLC, Sorouh Real Estate PJSC and Reem Investments, and is the municipal and resident regulatory authority and developer of regional infrastructure, utilities and sewage treatment on Reem Island.

Reem Island will have all the necessary infrastructure and services to become a self-contained city. It is among Abu Dhabi’s largest developments and will greatly expand the urban area of the capital and create more beachfront, residential and commercial space.

“The permanent road system is going to be unique in many ways,” Sultan added. “Some 6 million cubic metres of dredged infill is being used to create a series of raised roads, more than 5 metres above sea level. This will enable utilities such as power, water, telecommunications, gas, district cooling and sewerage lines to be quickly and easily installed and ready for all three master developers and their third party developers.

The regional road network is designed with both aesthetics and function in mind. “A full traffic assessment using the latest technology in traffic simulation software, along with a comprehensive environmental study have been completed,” Sultan said. “This will result in modern traffic management systems to ensure smooth traffic flow. It will also be combined with an eco-friendly layout to accommodate pedestrians and cyclists along spectacular tree-lined boulevards.”

In addition to the road networks, Bunya has also completed delivery of the temporary power and water supply, which is critical to construction activities.

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The development of Saadiyat Island moves ahead

Tourism Development and Investment Company (TDIC), one of Abu Dhabi's leading developers, has signed a Memorandum of Understanding (MOU) with Arabtec Construction LLC for the detailed design, development and construction of phase one of the exclusive Saadiyat Beach Residences community on Saadiyat Island, offshore Abu Dhabi city.

"This project raises Abu Dhabi's residential market to a world class level and is a highly prestigious award for Arabtec," said Riad Kamal, CEO of Arabtec Holding PJSC, the holding company of Arabtec Construction LLC.

He added that "Given TDIC's reputation for working with best-of-breed suppliers, we see this MOU as a significant vote of confidence in our abilities".

The total value of the contract, which includes all associated infrastructure works, is expected to exceed AED 2 billion and is due for completion in 30 months.

The project comprises a range of three to eight bedrooms villas and town houses in Mediterranean, Arabian or Contemporary architectural styles, some featuring a private gym, elevator, swimming pool and movie theatre.

The contract will cover the first seven gated communities which make up the prestigious Saadiyat Beach Residences development which will front the UAE's only Gary Player signature golf course, have fabulous see views and be just a five minutes drive from Saadiyat Island's famed Cultural District with the world's largest single concentration of premiere cultural institutions.

Saadiyat Beach has nine kilometres of uninterrupted white sand beach, where nine, five-star resorts will be managed by top hospitality brands.
/WAM/

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Top ten Abu Dhabi projects alone worth $190 billion

The cityscape of Abu Dhabi is being transformed by a series of multi-billion new cities, island resorts and communities - including the world's first planned zero-carbon, zero-waste city.

More than $190 billion is being budgeted across just the top ten civil construction projects currently planned or underway in Abu Dhabi, the capital of the United Arab Emirates, many of which are being showcased at Cityscape Abu Dhabi, which closes today (Friday 16 May) after extending the show by one day, after government requests.

Mark Goodchild, Project Manager, Cityscape Abu Dhabi, commented, "The sheer scale of these combined projects is remarkable. Little wonder that investors have flocked to Cityscape Abu Dhabi, visitor attendance figures for the first two days of the show exceeded 20,000, which is double the number we recorded last year at the same stage."

Details of the top ten projects were provided by research company Proleads and are listed below in order of budget value:

1. The biggest single project is the new capital city for Abu Dhabi - Khalifa City. Budgeted at $40 billion, the planned city is to comprise of all federal ministries, local government offices and embassies. The development will cover 49 million square metres. The city is expected to be completed by 2030.

2. Work has started on the Yas Island Development, a massive $39 billion mixed use tourist development including residential, hotels, beaches, marinas, retail, golf and equestrian facilities as well as a Ferrari theme park. The island will have a total developed area about one-third the size of Abu Dhabi island.

3. Burooj Properties is behind a planned $24 billion mixed use real estate community project in Abu Dhabi to include 11 residential towers, offices, four hotels and a shopping mall.

4. Saadiyat Island is another massive offshore development underway with a budget of more than $22 billion. It includes 19 kilometres of beachfront, 29 hotels, three marinas, 8,000 residential villas and more than 38,000 apartments. The project also includes a museum, concert hall, maritime history centre, three harbours, a park, golf course and sailing club.

5. A $22 billion budget has been allocated for the ambitious Masdar City project, billed as the first zero-carbon, zero-waste city. The city will include a university, commercial, residential and eco-friendly industrial areas. It will depend on solar energy. Masdar City will also be car-free. Around the city will be wind and photovoltaic farms, as well plantations to supply crops for bio-fuel factories.

6. Underway is the $13 billion Al-Raha Beach Complex, another mixed-use hospitality development involving reclaimed land and will include 50 high-rise and a number of low-rise buildings for approximately 120,000 people. Water-taxis will provide access to Abu Dhabi city centre.

7. Abu Dhabi's International Capital Trading is planning a $10 billion mixed use city, tentatively called Ghantoot. The project will comprise commercial centres, hotels, offices, residential areas, warehousing and light industrial areas. Green City.

8. Al-Reem Island development is a $7.8 billion mixed-use community next to the bridge connecting Al-Reem Island to Abu Dhabi city. Several 40 and 50 storey towers will form the central business district. The development will include two 80-storey buildings and house approximately 80,000 people.

9. With a budget of $6.5 billion, Sheikh Mohammed Bin Zayed City is another new city comprising 374 residential and commercial buildings as well as the associated infrastructure and entertainment facilities. The development is on the Abu Dhabi-Al Ain highway.

10. At joint number ten with budgets of $3 billion each are the Abu Dhabi Light Rail project and the MGM Grand Hotel. The rail project is in the study phase and will involve some 350 kilometres of rail. The MGM Grand project will have two further branded luxury hotels and more than 1,200 rooms. It will also feature a 12,000 seat arena, retail, restaurants, waterfront residences and private yacht berths.

"It is worth remembering that it is only the projects that are officially planned or have broken ground, that have made it onto the list. After last year's event we estimated that $327 billion worth of projects had been announced, this year's total is sure to be significantly higher," added Goodchild.

Cityscape Abu Dhabi has received widespread industry support from local, regional and international real estate professionals. Platinum sponsors of Cityscape Abu Dhabi include Mubadala, Aldar, Sorouh, Al Qudra, The Land Holding Company and Escan.

Gold sponsors include Dubai World Central, Tameer and Saudi Oger, with Future Brand and East & West Properties taking silver status. The Department of Municipal Affairs of Abu Dhabi is associate sponsor, Urban Planning Council of Abu Dhabi is Strategic Planning Partner while HSBC is investment sponsor.
/Arabian Business/

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SAK-Milanarch JV to bring classical & Islamic designs to life in Abu Dhabi

Prestigious international designers SAK and Milanarch have announced the launch of SAK-Milanarch Consultants at Cityscape Abu Dhabi today. The joint venture aims to offer the best of East & West, Islamic & Renaissance design from two of the most well respected architectural practices in the industry.

The synergy between the companies is most apparent when comparing their respective strengths in classical designs, which are not only environmentally friendly, but respect the culture and traditions of the indigenous region due for development.

“We will present an alternative to computer generated steel and glass ultra-modern buildings which are becoming commonplace in many areas throughout the region,” commented Engr. Abdullah S. Elkhereiji, President, SAK-Milanarch. “We will incorporate a human dimension into our design, respecting Islamic culture, but taking advantage of state-of-the-art technology with regard to the buildings’ operation and maintenance.”

SAK and Milanarch have enjoyed a fruitful business relationship for almost 30 years and between them in 2007 were responsible for landmark projects valued in excess of US$ 365 million. Saudi-based SAK with 10 branches in the region including Riyadh, Jeddah and Cairo will soon be adding Algiers in addition to their joint venture in Abu Dhabi.

With over 250 engineers, SAK is now considered one of the top 10 architectural practices in the Middle East and was responsible for major projects such as Ministry of Petroleum building and Al Mezan Tower in Riyadh and the Aramco building in Al Khobar.

Milanarch was founded and established in Milan by revered Italian architects Michele Achilli and Guido Cannella in 1960, whilst continuing their research and teaching activities at the Faculty of Architecture, at Milan Polytechnic. Today Guido’s son Professor Ricardo Canella has taken the reins as Chairman of Milanarch and has spearheaded the joint venture with SAK.

Milanarch too has an impressive track record and has completed numerous iconic projects such as Porta Romana Theater, in Milan, the award-winning Asmara Intercontinental Hotel in Eritrea and the magnificent City Hall in Bari, Italy.

Professor Riccardo Canelli said, “The real estate market in Abu Dhabi is growing at a remarkable rate. However, unlike other cities around the region, the Abu Dhabi government has shown that it will now not develop at any cost. The capital has led an impressive ‘green revolution’ with sustainability a key priority, as well as a deep appreciation for the arts. The SAK-Milanarch fusion of Islamic and European classical design has already been well received by planners and developers alike, throughout the region.”

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Abu Dhabi Planners Scoop Double at Cityscape Awards

Abu Dhabi’s Urban Planning Council was honoured with two awards at the Cityscape Middle East Real Estate Awards 2008, which celebrate excellence in real estate development and investment

At a packed awards ceremony and gala dinner held at The Emirates Palace Hotel on the first night of the real estate event, the awards were aimed at recognising and promoting industry excellence. The Urban Planning Council scooped two awards: In the Architecture section for Best Urban Design and Master Planning; and in the Future Retail category for its 2030 initiative.

A panel of internationally acclaimed industry professionals was assembled to judge the entries which were sorted into eleven distinct categories.

Overall the entries were judged on their contribution to world architecture culture, invention and imagination, respect for people and environmental awareness in the emerging and developed countries throughout the Middle East and North Africa. In some categories entries were separated into those already built and future projects that are incomplete or still on the drawing board.

The judging panel included: Dr Mohammed Dulaimi The British University in Dubai; Dr Sadek Owaitani, Chairman of the Council, Emirates Green Building Council; Khaleel Al Hosani, Vice Chairman, Society of Engineers; Abdulmajid Abdulrazzaq Al Khaja, CEO Rail Agency, Roads & Transport Authority; Sophie Llewellyn, Board Member, Royal Institute of Surveyors (RICS); Bryan Schaffer, Founder & Chairman, IRETO; Rohan Marwaha, Managing Director, Cityscape; Rushdi Siddiqui, Global Director for the Dow Jones Islamic Market Indexes; John Sandwick, Encore Management S.A. and Dr. Abdullah Ghareeb Al-Bloshi, Executive Director – Property Management, Department of Municipal Affairs, Emirate of Abu Dhabi.

Mark Goodchild, Project Manager, Cityscape Abu Dhabi commented, “The Cityscape Middle East Real Estate Awards 2008, have been keenly contested and the quality of the winners’ projects were reflected on the night. The rivalry, although professional, was intense and an astonishing array of talent was evident. However, the real aim of the awards is to celebrate excellence by rewarding truly exceptional achievements and thereby raising the bar for the industry as a whole.”

The Awards scheme received solid support from the real estate and associated industries, with headline sponsors that include; Bose, Etisalat, Gaggenau, RAK Ceramics, Environmental Power Systems, Cool City, Al Wifaq, 2G, DC Pro and Shaker Consultancy. The Awards are also supported by RICS, IRETO and Abu Dhabi’s Department of Municipal Affairs and Urban Planning Council.

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Mubadala to turn Abu Dhabi island into business zone

Mubadala Development Co, an Abu Dhabi investment arm which manages over $10 billion in assets, said on Sunday it will develop an offshore island into a new business district that would house the stock exchange.

Suwa Island, off Abu Dhabi's coast, will be developed by John Buck International, a joint venture Mubadala set up in March with Chicago-based real estate firm The John Buck Co.

"It is a multi-billion dirham development and construction has already started," Carlos Obeid, Mubadala's chief financial officer, told a news conference. "The island will be home to the new headquarters of the Abu Dhabi Securities Exchange."

Obeid said the project would be funded by a mix of equity and debt but would not provide details on actual costs.

"We are in discussions with financial institutions for the debt part and Mubadala will provide the equity," he said.

Mubadala's global shareholdings including a 7.5 percent stake in the Carlyle Group CYL.UL. The wealthy emirate controls the world's fifth-largest oil reserves.

Obeid said the 570,000 square meters development will include commercial and residential buildings as well as a hotel and retail space.

"There is tremendous demand for commercial real estate in Abu Dhabi fuelled by the growth of the economy," he said.
/Reuters/

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New entity Capitala will design, build, operate and maintain developments

Abu Dhabi gets another master developer, this time through a joint venture with one of the biggest names in Asia’s development space. Singapore-headquartered CapitaLand – the largest real estate company in Southeast Asia by market capitalization – has aligned with Mubadala Development Co to form Capitala.

The former holds 49 per cent in the new entity, whose strategy is to provide a full portfolio of related services – design, build, operate and maintain developments, pre-dominantly in the residential arena. The two companies had first announced the partnership late last year.

“We announced a budged of $4-5 billion last year. It will be a project from a mid-scale to high-end community,” says Carlos Obeid, Chief Financial Officer of Mubadala. “Through this venture, we will turn property development ideas into reality.

“Financing of the project is going to be through a combination of capital injection, bank loan, advance sales and share holder loans. All of these elements will meet the capital expenditures.

“Our strategy of making capital-intensive investments with long-term horizons will contribute to the regeneration of property in Abu Dhabi as well as enhance the real estate sector in the emirate.”

Expanding globally

The promoters look to numbers, which project Abu Dhabi’s population to be well over three million by 2030. For Capita-Land, the venture comes as it looks to expand its international presence.

Its real estate and hospitality portfolio spans more than 100 cities and includes landmarks such as Clarke Quay in Singapore, Freshwater Place in Melbourne, Canary Riverside in London, and Raffles City integrated developments in Singapore and Shanghai. CapitaLand is also currently developing Bahrain’s waterfront Raffles City, in which it has 37 per cent equity.

“Our maiden venture will be on land surrounding the Zayed Sprots City Stadium, this area included a 1.4 million-square meter site with a 2-kilometre prime waterfront area,” says Heang Fine Wong, CEO of CapitaLand GCC Holdings pte ltd. and CapitaLand ILEC pte.

“We have done our due feasibility studies and according to a market report, the current occupancy level is 98 per cent and anticipated to remain constant. Abu Dhabi’s market is still very strong and going forward it is sustainable.

“If you look at the global real estate market, a lot of issues have surfaced. As far as this market is concerned, we do not see a similar trend.

“In fact, the rapid growth in the GCC is synonymous to that in the whole of Asia. We believe that CapitaLand has struck many chords in identifying key markets for potential development.

“Capital’s focus is not just iconic building and design – it is about creating a vibrant community where we can add value to the buyers, tenants and our shareholders.”

LOOKING AHEAD

■ “If you see the Abu Dhabi Vision 2030, we are still very much in the beginning of the property cycle in Abu Dhabi.”
Carlos Obeid for Mubadala
■ “Capitala’s developments will go beyond being mere functional property space. They will be living, vibrant and integrated communities that meet the evolving needs of Abu Dhabi, blending the best cutting edge international design and development expertise seamlessly with the needs of local culture for community living.”
Heang Fine Wong

CAPITALA FACTS

■ The first project from Capitala is in the final stages of design. Due to be launched in the next few weeks, it will be on the land surrounding the Zayed Sport City Stadium. Capitala will act as a developer and facilities manager for all its developments surrounding the Stadium.

■ Headquartered in Singapore, CapitaLand is the largest owner/manager of malls in Asia and the largest serviced residence owner-operator worldwide.

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Khalifa Port will be an environmental-friendly project

Khalifa Port, the offishore-port being developed by the Abu Dhabi Ports Company (ADPC) at Taweela, has become more than an industrial project as its masterplan emphasises on preserving the natural environment while promoting economic growth.

It will be one of the first megaprojects launched since Plan 2030, a master framework for upgrading Abu Dhabi into a sustainable and thriving 21st-century community, was announced.

Under the plan the coast will receive new protection against the effects of industry and real estate development. Islands, sand dunes, sea, coastlines and native wildlife will be protected while "preserving the connection between humans and the surrounding environment," the plan states, even as the city triples in population, a report published by The National daily said.

In order to preserve the fragile marine ecosystems in the area the designers have located the port 4.6km offshore in the Gulf, and connected it to land by a bridge supported by concrete pillars.

"We didn't want to build something very near the shore because it would have impacted the corals," said Majid Yavary, the deputy director of capital projects at ADPC.

The decision to build offshore was taken following a two-year environmental study conducted by ADPC.

Describing the project as "the most extensive numerical modelling study ever done in this region", he said that the design ensures that coral communities will be unmolested by the shipping traffic further offshore.

A Wetlands National Park is planned just south of the Khalifa Port. Another protected area will be created among the mangroves and tidal flatlands just north of the new port, along the Dubai border.

"One thing that was made absolutely clear, crystal clear from the get-go, was that you shall not impact the environment," said Mr Yavary.

Such a directive may have seemed an daunting, given the project's scale by 2028, the port will handle 37 million tonnes of cargo and five million containers each year.

"For this project we have developed some of the best predictive tools in the region, in terms of the prediction of flows, water temperatures and tides" he said.

The Abu Dhabi Government has begun building the port at a cost of more than Dh37 billion (US$10.1bn) in 2005 and the project will also include a 140-square kilometre manufacturing zone and the world's largest aluminium smelter. WAM

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Abu Dhabi National Exhibition Centre has entered its final phase of construction

Abu Dhabi National Exhibitions Company (ADNEC) has announced that Phase 2 of the Abu Dhabi National Exhibition Centre has entered its final phase of construction.

The main structural work of the Dhs500m Phase 2 development is complete and the main shell of the building is now in place; over the next few weeks glazing, marble and other key elements will begin to be installed.

Construction is scheduled for completion in September this year.

Simon Horgan, CEO of ADNEC said: 'Despite testing conditions within the regional construction industry, construction on Phase 2 has progressed on schedule throughout the entire development. This is a credit to all involved'.

Horgan stressed that the speed of development has been credited to the company's highly successful partnering program, which has been adopted in all its development initiatives.

'The partnering program places all parties involved in the project as a single team to immediately tackle and overcome issues that may arise. ADNEC pioneered this non-confrontational approach to building on Phase 1 with a huge amount of success; it is a philosophy that is central to all of our development projects'; Horgan added.

ADNEC; lead contractor Arabtec; project manager MACE and engineering and architectural consultant RMJM have employed a specialist team of 12 people from Greece to work on Phase 2.

RINOL Hellas SA is credited for significantly speeding up the build process by ensuring better quality and technical superiority of the building project.

On completion of Phase 2, ADNEC will be the largest exhibition centre in the Middle East with over 55,000 square metres of fully interconnected exhibition space spread across 12 halls; said a statement from ADNEC.

ADNEC has been developed as the centrepiece project of the Dhs8b Capital Centre project, a fully integrated community development that is considered a strategic element of the Abu Dhabi 2030 vision. /WAM/

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Abu Dhabi extends Shuweihat 2 deadline

Abu Dhabi Water & Electricity Authority (Adwea) has extended the bid deadline for the Shuweihat 2 independent power and water project (IWPPs) by three weeks to 14 May. The decision to postpone the bid date came at the request of several prospective bidders.
Up to four developer groups are expected to submit proposals.

Under the revised schedule, Adwea plans to shortlist developers by 5 June. The power purchase agreement will then be signed by 21 July with financial close targeted by 11 December.

The Shuweihat 2 project is out to tender at the same time as several other IWPPs in the region. Bids for Saudi Arabia's Ras al-Zour IWPP are due on 4 May, bids for the Addur IWPP in Bahrain are due on 7 May and for Oman's Slalah IWPP due on 12 May.

In addition, in Saudi Arabia the deadline for bids for the Rabigh independent power project is 31 August and bids for the Yanbu IWPP are due on 27 August (MEED).

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Saadiyat Bridge in Abu Dhabi is 60% complete

The 10-lane Saadiyat Bridge which will link Abu Dhabi city with Saadiyat Island, the mega mixed use real estate development which lies 500 metres offshore the UAE capital is now 60% complete and is fast emerging as a major landmark in the emirate.

The bridge, one of the largest infrastructure projects currently under way in Abu Dhabi emirate which is easily accessible to Dubai, is being built by an ED Zublin AG/Saif Bin Darwish joint venture on behalf of Tourism Development & Investment Company (TDIC), Abu Dhabi's leading tourism asset development and the name behind Saadiyat Island's transformation into a signature leisure, residential and cultural destination.

"We are well on course for targeted completion of the bridge in September next year well in advance of the planned opening of some key Saadiyat facilities, including some five-star resorts planned for Saadiyat Beach and the Saadiyat Beach Golf Course," said Lee Tabler, CEO, TDIC.

Set to become one of the world's great non-suspension bridges, the concrete span bridge, which has mid span of approximately 200 metres will connect Saadiyat Island with Abu Dhabi city from the Mina Zayed main port area creating a five-minute drive access between the two. Source

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Aldar to develop $3bn car trade complex - Motor World City

Abu Dhabi's Aldar Properties said on Thursday it will develop an 11 billion-dirham ($3 billion) real estate project in the UAE dedicated to the car trade, including service centres and a museum.

State-controlled Aldar, which is spearheading a construction boom in the UAE's capital city, plans to complete the project in four years, the company said in a statement given to reporters in Abu Dhabi.

"Motor World will offer a place for all car-related retail transactions to take place under one roof," the company said. The project, on the outskirts of Abu Dhabi city, includes offices, hotels and homes for 30,000 people, it said.

Aldar Chairman Ahmed Ali Al-Sayegh said the project will take the total value of schemes the company is developing $70 billion.

Abu Dhabi is reaping a windfall from six years of rising oil prices, which it is using to diversify its economy from oil by developing residential, leisure and cultural projects.

Shares of Aldar more than tripled last year, though are down about 10% this year.

Deutsche Bank expects Aldar's first-quarter profit to more than double to 1.1 billion dirhams, compared with 450.7 million in the year-earlier period, according to a survey of analysts by newswire Reuters. (Reuters)

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349 new residential towers planned in Abu Dhabi

The Abu Dhabi Municipality is currently working on building as many as 349 residential towers at Madinat Mohammed bin Zayed in Abu Dhabi that will accommodate 30,142 apartments of different categories.

Seventy-five per cent of the flats will be one-bedroom and the rest two-bedrooms.

The project is part of Abu Dhabi government's expansion plans aimed at addressing the problem of housing shortage, according Dr. Jawan bin Salim Al Dhahiri, Head of the Municipal Affairs Department, Abu Dhabi Municipality.

Dr. Al Dhahiri said the mass construction project will be completed by June 2012.

He pointed out that the housing expansion project also includes implementation of infrastructural works such as roads, sewerage, rainwater drainage, electricity, water, landscaping, and construction of schools, mosques and health clinics.

He added that the municipality coordinates with the landlords of the towers and their consultant engineers to enable them to chalk out the designs needed for erecting the residential towers and to make the main blueprints for the underground paths of the infrastructure.

The municipality will take into account public transportation that will be in tune with the size of the population there.

He clarified that the means of transportation provided in Mohammed bin Zayed City, that is 15km from the capital, will encourage the inhabitants in the capital to easily move to the city. Source

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Mohamed Bin Zayed City

Abu Dhabi Municipality has officially launched one of the largest project initiatives, a project for the development of five new mega-scale high rise residential sectors in Mohamed Bin Zayed City.

It also has announced the appointment of KEO International Consultants as the Program and Construction Manager for its implementation.

The project calls for the development of 347 towers within the five sectors located in Mohammed Bin Zayed City. The Master Plans for each of the sectors, also carried out by KEO, provide features that create dynamic, desirable, safe and family oriented residential self sustaining mini-cities. Each of these new min-cities will include attractive amenities featuring shopping streets, parks, restaurants, extensive shaded walkways, underground parking and water features. It is expected that these sectors will house over 50,000 inhabitants.

Commenting on KEO's role as both the Master Planner and Program Manager, Donna Sultan said: 'We have always seen our role as a true collaboration with the Abu Dhabi Municipality both in the developing the vision of these new mini-cities and now as one team for their implementation. The scale of development is very ambitious as is the schedule which calls for all sectors and their towers to be built in the next five years. This will require well coordinated efforts and cooperation between the plot owners the Municipality and us.'

The 26 Billion Dirham ($7.1 billion) scheme is one of the most important public/private partnering developments launched by the Government of Abu Dhabi. The government is separately funding nearly 1 Billion Dirham ($242.4 million) for all infrastructure services and the extensive landscaping. The Municipality officials and KEO confirmed that binding design and construction guidelines will be issued to each of the plot owners to ensure quality of design and construction and adherence to the master plan requirements. A pre-qualification process for consultants and contractors will be mandatory and is expected to begin very soon.

In order to facilitate the development of each of the sectors, a dedicated project office will be built in Mohammed Bin Zayed City that will be a 'One Stop Shop' for the implementation of the project which will include all permitting processes. Uwe Nienstedt, Project Executive for the Development, stated 'This approach is unique and will ensure coordination between all consultants and contractors and the best possible service to the plot owners.'

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Abu Dhabi Investment HQ to act as landmarks at the gateway of the city

Aedas, the world's fifth largest architecture firm, recently won a design competition for the Abu Dhabi Investment Council Headquarters (ADIC). The winning design for the 11,500m2 site was unveiled at the real estate development conference MIPIM 2008, in Cannes, France.

Occupying two neighbouring sites near Al Qurum beach, the buildings have been designed to act as landmarks at the gateway of Abu Dhabi. Once complete, the towers will provide working areas, private amenities, dining, conference and meeting spaces for more than 2,000 people.

The towers have a honeycomb structure based on geometric patterns, which has resulted in highly efficient load paths and a structural solution that is stable, flexible and economical. The design is the product of collaboration between Aedas' architectural team and its in-house research and development department.

"Our concept for the Abu Dhabi Investment Council headquarters was generated from a mathematically pre-rationalised form which was in turn derived from Islamic principles," said Peter Oborn, Aedas joint managing director.

"A key feature of the design is the application of a diaphanous screen that envelopes the most exposed aspect of the building in the form of a dynamic ‘Mashrabiya', opening and closing in response to the sun's path, significantly reducing the solar heat gain and providing a more comfortable internal environment."

In addition to the dynamic façade, the towers will also feature three sky gardens, thus, further reducing the solar heat gain on the most exposed elevation. Planned external landscaping will include a palm reserve, water features, and pedestrian routes.

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The modernisation of 327-kilometre highway - only a part from a surface transport masterplan

Abu Dhabi is considering plans to use a private-public-partnership for the modernisation of the 327-kilometre highway linking Mafraq to Ghweifat in the west of the emirate as part of a surface transport masterplan.

John Lee, highways and transport planning advisor at Abu Dhabi's Department of Transport told MEED's Middle East Road Infrastructure conference in Dubai on 30 March that the project will cost about $2bn.

The initial plans, which require the approval of the Abu Dhabi Executive Council, call for a long-term contract to be awarded. The winning consortium will receive payments based on performance, including lane availability, maintenance and safety.

"Our preliminary analysis shows that we will save at least AED4bn ($1.1bn), primarily by avoiding cost over-runs," Lee said.

The contract could be followed by similar deals for the Abu Dhabi-Dubai road corridor, the Abu Dhabi to Al-Ain highway, and the entire Western region corridor.

Lee said that Abu Dhabi has rejected tolling as a way of paying for its PPP road projects. "To get tolling to pay most of the cost of highways would take too long," Lee said. "There is resistance to tolling in Abu Dhabi. And to make the project work, we want to take the traffic risk away from the operator."

Lee said the plan also calls for a highway concession law. "We believe there needs to be clarity and the law will also give comfort to bidders." MEED

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Aldar sets up new firm

Aldar Properties said yesterday it has set up a company with concrete producer Readymix Abu Dhabi to provide supplies to its development projects.

Aldar Readymix will allow Aldar to receive high-quality concrete for its projects, including Al Raha Beach development, it said in a statement.

Aldar Readymix plans to reach a total production capacity of more than 15,000 cubic metres per day by the end of this year, adding to Al Raha Beach's four on-site concrete batching plants with a production output of 6,000 cubic metres, it added.

"This alliance has many benefits for both parties including creating a secure and proper supply chain, which will allow Aldar Properties to get all its requirements on time, and remain on schedule throughout their projects," Aldar Readymix general manager Youssef El Hage said.

UAE suppliers of ready-mixed concrete are struggling to keep up with demand with the risk that construction projects may be delayed further, a newspaper reported earlier this month. Source

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Abu Dhabi announced projects worth AED 768 billion in 2008

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

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