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Abu Dhabi Project Development Other projects in the capital of the UAE



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Old June 2nd, 2015, 10:23 PM   #41
Gabriel900
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WHAT ... I was very excited for it! Military! is this a joke?
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Old June 5th, 2015, 08:05 PM   #42
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its a roumer so nothing to worry about
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Old June 5th, 2015, 08:12 PM   #43
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Quote:
Originally Posted by Chakazoolu View Post
Heard from a government source recently that this will not be built, they are reviewing alternatives, potentially a military museum.
That would be incredibly disappointing, if true.
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Old June 8th, 2016, 09:13 AM   #44
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Worst behind Abu Dhabi as it looks to revive Guggenheim plans

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The chairman of the emirate’s Department of Economic Development said he expected the plans to be revived amid positive economic growth predictions.


Abu Dhabi is expected to revive its plans for a Guggenheim museum next year amid expectations of accelerated economic growth, according to the chairman of the emirate’s Department of Economic Development.

Ali Majed Al Mansoori told Bloomberg the emirate planned to award contracts for the museum, which will be located on Saadiyat Island, by the end of this year or early 2017.

“The worst is behind us,” Al Mansoori told the news service. “Our budget is still strong. The majority of projects are still there and there are other smaller projects which are moving. The economy is moving.”

After being hit hard by the drop in crude prices, the emirate slashed spending by a fifth last year and plans a further 17 per cent cut this year, more than a proposed 14 per cent reduction in Saudi Arabia.

However, following the recent recovery of prices the International Monetary Fund said last month the emirate can now afford a more gradual fiscal consolidation.

Al Mansoori told Bloomberg prices could recover to a range of $55 to $60 this year after increasing 85 per cent from a 12-year low in February. Today prices for Brent and West Texas Intermediate hovered around $50 a barrel.

The official said he expected Abu Dhabi’s economy to grow as much as 5 per cent in 2017 from 2 per cent this year.

Credit rating agency Moody’s maintained the emirates Aa2 rating in May citing the economy’s large fiscal buffers. It said the country’s fiscal consolidation could slow amid pressure to support growth.
http://gulfbusiness.com/worst-abu-dh.../#.V1e2qE_RqzM
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Old June 9th, 2016, 12:03 PM   #45
cmajewsk
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Quote:
Originally Posted by Chakazoolu View Post
Heard from a government source recently that this will not be built, they are reviewing alternatives, potentially a military museum.
So wrong...
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Old June 9th, 2016, 03:37 PM   #46
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Quote:
Originally Posted by Emarati2009 View Post

In my opinion they should first review louvre Abu Dhabi performance over a period of two years, then decide wether to build Guggenheim museum or not. This makes a lot of sense since the outcomes of the museum strategy is not guranteed. I doubt the museums will ever cover their costs from entrance fees (although this is an issue globally).
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Old June 9th, 2016, 03:56 PM   #47
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No chance a museum of these kind of builds will recover their costs but I think they are needed in Abu Dhabi. If AD is serious about pulling in tourists then it needs something to distinguish it and draw them in aside from a beach (which is too hot for half of the year) and malls. Museums, theatres, theme parks etc all are needed, there is only so many shops you can go in and hours you can spend on a beach...
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Old June 14th, 2016, 01:16 PM   #48
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Beestonlad. That's true.

But there are many empty mega structures around the world that lay unused. Some are pretty and built by renowned architectures. But because there was no solid business plan underlying them the are wasted.


So unless TDIC wants to incure debts of billions without having cash flows to support them they ought to be very careful. Couple of years mean nothing since these projects are already delayed.
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