Work on Abu Dhabi's Second Downtown to begin in a year's time
Monday, March 16, 2009
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The work on Second Downtown in Abu Dhabi would begin in a year's time, following the approval by Executive Council, it has .
The Capital District, to be built 7km inland from Abu Dhabi Island, will eventually house a population of 370,000, including all embassies and federal government institutions.
The General Manager of the Urban Planning Council (UPC), Falah al Ahbabi, said that work on the district would begin during the first or second quarter of 2010.
The first phase of the project includes houses, universities and government offices, all of which will be completed in three years time.
The massive project, which spreads across 4900 hectares of space, comprises commercial buildings, government buildings, residential buildings, parks and schools. The place will turn out to be a truly sustainable city that will accommodate a population of 370,000 in a span of 25 years.
The residential component of the district would keep aside 3000 units for Emirati Citizens. The plots have been designed and are ready to be allocated.
The true vision of the project will be revealed during the Cityscape Abu Dhabi to be held next month. The Capital District is hoped to ease the burden on Abu Dhabi Island, and create a recognizable center for the Capital.
The infrastructure work would commence during the first quarter of 2010. The infrastructure for the first phase would be completed within two years of launch of the project. But, the completion of the whole infrastructure, may take six years, or even ten years, depending on the rest of the phases.
Phase One of the project involves the development of federal government offices at the Town Centre, a Sports City, the Emirati housing and new headquarters for Khalifa University and Zayed University, and an exhibition or convention center.
The cost of the project is yet to be revealed by the UPC.
Al Ahbabi, said that Abu Dhabi is facing a shortage of housing, and hence these developments need to be taken forward aggressively. In the meanwhile, the Department of Transport revealed that the Capital District would be linked to the Abu Dhabi Island by a tram, high-speed and metro rail, all of which, will, also be linked to Dubai by 2030.
The Capital District, to be built 7km inland from Abu Dhabi Island, will eventually house a population of 370,000, including all embassies and federal government institutions.
The General Manager of the Urban Planning Council (UPC), Falah al Ahbabi, said that work on the district would begin during the first or second quarter of 2010.
The first phase of the project includes houses, universities and government offices, all of which will be completed in three years time.
The massive project, which spreads across 4900 hectares of space, comprises commercial buildings, government buildings, residential buildings, parks and schools. The place will turn out to be a truly sustainable city that will accommodate a population of 370,000 in a span of 25 years.
The residential component of the district would keep aside 3000 units for Emirati Citizens. The plots have been designed and are ready to be allocated.
The true vision of the project will be revealed during the Cityscape Abu Dhabi to be held next month. The Capital District is hoped to ease the burden on Abu Dhabi Island, and create a recognizable center for the Capital.
The infrastructure work would commence during the first quarter of 2010. The infrastructure for the first phase would be completed within two years of launch of the project. But, the completion of the whole infrastructure, may take six years, or even ten years, depending on the rest of the phases.
Phase One of the project involves the development of federal government offices at the Town Centre, a Sports City, the Emirati housing and new headquarters for Khalifa University and Zayed University, and an exhibition or convention center.
The cost of the project is yet to be revealed by the UPC.
Al Ahbabi, said that Abu Dhabi is facing a shortage of housing, and hence these developments need to be taken forward aggressively. In the meanwhile, the Department of Transport revealed that the Capital District would be linked to the Abu Dhabi Island by a tram, high-speed and metro rail, all of which, will, also be linked to Dubai by 2030.
Labels: Abu Dhabi, Infrastructure
Master developers getting more lenient with property developers
Monday, November 24, 2008
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Eager to put an end to the confusion and panic prevailing currently in the market, the master developers are said to be offering payment extensions to property developers in Dubai.
A developer in Dubai, when speaking to the media, revealed that when they requested their master developer to defer their land payment, they were readily granted a three-month extension.
The extension granted was for a plot of land on the waterfront development, for which, the developer had remitted 50 percent of total value at the time of purchase.
In the meanwhile, the infrastructure projects in Dubai, such as the plans by Roads and Transport Authority and the new Al Maktoum International Airport in Jebel Ali, would all proceed as stipulated in Dubai Strategic Plan 2015.
According to Nasser Al Shaikh, the Director General of Dubai Department of Finance, a growth rate of 11 percent annually, is expected until 2015, but with the current situation, Dubai would continue to witness economic growth, although at lower rates.
The government and financial institutions are getting highly transparent in their operations and transactions. This is more evident, with Dubai initiating new laws to regulate its banking and property sectors, and this is no-doubt a positive outcome of the global crisis.
A developer in Dubai, when speaking to the media, revealed that when they requested their master developer to defer their land payment, they were readily granted a three-month extension.
The extension granted was for a plot of land on the waterfront development, for which, the developer had remitted 50 percent of total value at the time of purchase.
In the meanwhile, the infrastructure projects in Dubai, such as the plans by Roads and Transport Authority and the new Al Maktoum International Airport in Jebel Ali, would all proceed as stipulated in Dubai Strategic Plan 2015.
According to Nasser Al Shaikh, the Director General of Dubai Department of Finance, a growth rate of 11 percent annually, is expected until 2015, but with the current situation, Dubai would continue to witness economic growth, although at lower rates.
The government and financial institutions are getting highly transparent in their operations and transactions. This is more evident, with Dubai initiating new laws to regulate its banking and property sectors, and this is no-doubt a positive outcome of the global crisis.
Labels: Infrastructure, Latest News
Nakheel completes design works on three 12-lane Palm Deira bridges
Sunday, November 09, 2008
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Master Developer Nakheel has revealed the completion of designs of the three 12-lane bridges linking Palm Deira to the mainland Deira. The bridges are worth a total of Dh.1980million.
In the meanwhile, Nakheel has entered into an alliance with the Roads and Transport Authority (RTA) Dubai, to connect the transportation network on mainland Deira to the network developed by Nakheel on Palm Deira. With similar integrated networks for the Marine and Metro transport, residents would get to enjoy the flexibility to travel around the emirates, with preferred mode of transport.
The Operations Director, Palm Deira, Abdulla Bin Sulayem, congratulated the team for completion of the design work on Palm Deira bridges to highest specifications.
"This would include installation of 44 bridges and a network of modern roads, metro and intersections and tunnels. With continued support of the RTA and Parsons group, Palm Deira will be ready to service its residents on completion," he said.
The bridge construction would be 1000 meters in length, and 15 meters in height, and the excavation of second bridge which is also1000 meters in length has already begun. The third bridge would also be about 1100 meters in length, and the construction work would commence shortly.
Labels: Infrastructure, Nakheel, Palm Deira
Abu Dhabi to witness Dh 200bn worth of realty investments
Tuesday, August 12, 2008
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With the Abu Dhabi government pitching in to fill up the void in supply of residential units within the Capital, the real estate investments and infrastructure in the UAE Capital, is likely to touch Dh.200bn by 2012, reveal latest studies.
The establishment of Abu Dhabi Commercial Properties, apart from various initiatives taken to fine-tune real estate regulations, is also prompting the growth of the market, which is expected to see about 140,000 housing units by the year 2013.
With the market maintaining a growth which is stronger-than-expected, Bonyan International Investment Group (Holding) L.L.C., has identified a real estate company as one with high-potential investment opportunities within the emirate, inline with its regional expansion plans.
Keeping in mind the current growth in population, which stands at seven percent per annum, the government, has increased its interest in boosting the tourism sector, coupled with continuous development and modernization of infrastructure.
The Abu Dhabi property sector is heading towards an unprecedented boom, and, being in the middle of a major economic development, this is likely to continue for the next fifteen years. The emirate has been identified by Bonyan International, as being a market with high potential to accommodate various large-scale developments with its liberal and modern growth policies.
The establishment of Abu Dhabi Commercial Properties, apart from various initiatives taken to fine-tune real estate regulations, is also prompting the growth of the market, which is expected to see about 140,000 housing units by the year 2013.
With the market maintaining a growth which is stronger-than-expected, Bonyan International Investment Group (Holding) L.L.C., has identified a real estate company as one with high-potential investment opportunities within the emirate, inline with its regional expansion plans.
Keeping in mind the current growth in population, which stands at seven percent per annum, the government, has increased its interest in boosting the tourism sector, coupled with continuous development and modernization of infrastructure.
The Abu Dhabi property sector is heading towards an unprecedented boom, and, being in the middle of a major economic development, this is likely to continue for the next fifteen years. The emirate has been identified by Bonyan International, as being a market with high potential to accommodate various large-scale developments with its liberal and modern growth policies.
Labels: Abu Dhabi, Infrastructure, Real Estate News
Ajman invests Dh1.4bn in developing infrastructure projects
Tuesday, August 05, 2008
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Ajman has infrastructure projects worth Dh.1.4bn that are currently under construction, so as to support the sky-rocketing pace of real estate developments within the emirate. Ajman is the third largest property market in UAE, next to Dubai and Abu Dhabi.
Ajman has six mega projects that are underway, which makes up to a combined value of Dh.40.8bn. This accounts for a total of 10 percent of all projects that are currently happening in the UAE.
The projects in Dubai, account for 50 percent of the construction activities taking place in UAE, while Abu Dhabi contributes to 30 percent of the activities in UAE.
Ajman is currently involved in enhancing its road and sewerage treatment plants. A solid infrastructure program with Dh.500mn being allocated for infrastructure alone, and Dh.800mn towards launch of sewerage system, has been one of the most important infrastructure projects in the emirate.
As the investors were hesitant over investing in Ajman due to lack of water, electricity and road networks, and the government in Ajman has given top priority to this sector and is making serious efforts to implement good infrastructure networks and attract more investors.
An agreement to build the first coal-fired power plant in UAE, worth $2bn, was signed by H.H. Shaikh Humaid Bin Rashid Al Nuaimi, the Member of Supreme Council and Ruler of Ajman, and Ernest Nevaratnam, the Head of Investment and Projects, Malaysian Mining Corporation.
Ajman has six mega projects that are underway, which makes up to a combined value of Dh.40.8bn. This accounts for a total of 10 percent of all projects that are currently happening in the UAE.
The projects in Dubai, account for 50 percent of the construction activities taking place in UAE, while Abu Dhabi contributes to 30 percent of the activities in UAE.
Ajman is currently involved in enhancing its road and sewerage treatment plants. A solid infrastructure program with Dh.500mn being allocated for infrastructure alone, and Dh.800mn towards launch of sewerage system, has been one of the most important infrastructure projects in the emirate.
As the investors were hesitant over investing in Ajman due to lack of water, electricity and road networks, and the government in Ajman has given top priority to this sector and is making serious efforts to implement good infrastructure networks and attract more investors.
An agreement to build the first coal-fired power plant in UAE, worth $2bn, was signed by H.H. Shaikh Humaid Bin Rashid Al Nuaimi, the Member of Supreme Council and Ruler of Ajman, and Ernest Nevaratnam, the Head of Investment and Projects, Malaysian Mining Corporation.
Labels: Ajman, Infrastructure
