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Abu Dhabi unveils masterplans set to rival Dubai

5066 Views 63 Replies 23 Participants Last post by  Naz UK
Abu Dhabi young guns unveil masterplans set to rival Dubai

Najmat Abu Dhabi (left), a self-sustainable community which will be built on Al Reem Island; and The Gate (right), part of Sorouh Real Estate’s plans for the Shams Abu Dhabi island, are among the latest projects to be unveiled.

The long awaited awakening of the Abu Dhabi development market has been the talk of the local construction industry for the last two years.

In that time the market has watched the formation of a small handful of companies, that together will be responsible for billions of dollars in development over the next decade.

Now these firms, which include Sorouh Real Estate, Aldar Properties, Reem Investments and Tamouh Investments, are finally moving on masterplans that could even eclipse neighbouring Dubai in scale and ambition.

With the value of construction projects to be tendered rising from US $2.3 billion in 2005 to $6.3 billion in 2006, Abu Dhabi is quickly gaining ground in the regional construction industry.

Work is already underway on Aldar’s projects, including the central market redevelopment; the Al-Gurm Resort and Spa, which is being built off Abu Dhabi island, and the $15 billion Al Raha Beach development, which will be home to more than 60 high-rise towers.

The company is also behind the Al Raha Gardens development, a 665,000m2 community project located next to Al Raha Beach in the city.

In total, mixed-use projects comprising residential and commercial buildings account for $10.17 billion of property spend in Abu Dhabi, making it the largest segment of ongoing project development.

The fight to gain a place among the tallest towers in the world is also on: Sorouh Real Estate this week announced plans for the 375m Sky Tower, which will form part of its $2.7 billion Gate project, an eight-tower development at the Al Reem Islands Shams Abu Dhabi project.

Meanwhile, Reem Investments is building towers of up to 80 storeys at its $8 billion Najmat Abu Dhabi project on Al Reem Island. Designs for Sorouh’s proposed Lulu Island development, which will host a range of residential, commercial, health and recreational facilities, were also approved in March.

Major projects are also springing up outside of real estate — contract packages are out to tender for the new runway and the Etihad terminal on the $6.8 million expansion of Abu Dhabi International Airport, while billions of dollars are being invested in developing and diversifying the emirate’s industrial free zones — for which 300km2 of premium land has been set aside.

The construction of the 110m tall Grand Mosque is now well into its second phase, while more than $1 billion a year is spent on road infrastructure projects by the Abu Dhabi government.

But such a huge scale of simultaneous development has presented challenges to developers. Regulations may have been relaxed to attract foreign investors, but sourcing the right contractors — particularly as many order books are full — to ensure quality and timely completion of projects, is proving more of an issue.

Developers are being urged to pay careful attention to every rung of the market chain, from management expertise, research, site selection and contractor selection to on-site project management, supervision and long-term maintenance of projects.

“Quality, iconic projects support the drive for excellence that is now the watchword of the Abu Dhabi emirate’s leadership. Poorly designed and built projects, in an increasingly free market, will have an impact far beyond our shores,” said Ahmed Ali Al Sayegh, chairman of Aldar Properties.

“The market will be shaped by the quality of our product and the brand image that results — as well as by the new regulations that will permit expatriates to buy property in such iconic projects.”

In the drive to ensure such targets are met, developers are being more careful about the way they select contractors and are coming up with different ways of attracting the right ones for the job.

For its projects, Sorouh Real Estate is devising a strategy encouraging local and foreign contractors, as well as consortiums made up of local and international players. Reem Investments, on the other hand, has no plans to directly target foreign companies, unless they are in partnership with local firms.

“We are looking for contractors already based here, or setting up here, and they will be selected according to the specification of each development,” said Ibrahim Belselah, CEO of Reem Investments.

“A lot of local contractors go into joint venture with a foreign company, or a business person builds a relationship with a foreign company and brings them in — but we don’t want to go directly to foreign companies.

“It’s more for practical reasons — we want to promote the economy here for existing companies; usually they’re the experts so we don’t want to take their role away by going directly with foreign companies. There are a lot of good quality, home-grown contractors available in the country,” he added.
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Well// i dont know what can i say....... hmmmmmm ok nice try
with all my respect to abudhabi ... I think this city will get so many big projects but abudhabi will never rival dubai.
The-Sultan said:
with all my respect to abudhabi ... I think this city will get so many big projects but abudhabi will never rival dubai.
Same here :D
I dont think that every city needs to be a tourist destination.
sorry to tell you that there is no city in the MidEast has potentail to rival Dubai. This is a FACT.
I think Abu Dhabi should focus on industry rather than copying Dubai

I read that Abu Dhabi investments is the the 2nd investment company in the world with investments of over 500$ billions. I dont mind if the sheikhs stole 50% of it but at least give the citizens the other 50%.
Krazy wouldnt be happy after those posts :runaway:
I dont think abu dhabi quite 'get it'

dubai launches an airline .... 20 years later abu dhabi does

dubai launches a super luxuary hotel to kick start tourism... 8 years later AD does the same

dubai launches big property developments... 8 years later... AD does the same.

they need to pioneer in other areas. Dubai has already embeded the maket. AD are effecivly just rying to compete where they cant.

its all about brand... and once you have 2 that are effectily the same, the embbeded one always wins.
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are we still talkin about 2 cities in the same country?????

it is understandable for kuwait trying to compete with dubai (like they ever had a chance) but AD should focus in another area to make UAE the daddy of the has conquered the tourism so AD should try to look to cover another area
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Dubai is now a source of inspiration to all Middle Eastern countries, which is good though…
i dont mind AD trying to become like Dubai...good for them... :cheers: here to a prosperous UAE!!!

I maintain... Abu Dhabi might not have BIGGER projects than Dubai... but they will definitely have projects of better quality including architecture. Abu Dhabi is not focusing on becoming a tourism spot as someone implied earliker, rather it is developing its tourism sector only as a part of the economy... let's not forget Abu Dhabi has always been more industrialized than Dubai and their industrial city will be much bigger and better than Dubai's planned one. Abu Dhabi will also have better universities and research facilities than Dubai's fake American universities and "Knowledge Village" :hilarious ... let's give this city some credit people, it's your capital, it's the land of Sheikh Zayed... the man without which Dubai's outrageous dreams wouldn't be seeing daylight today.
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^^ very good point krazy...AD does deserve some credit
like i said there nothing wrong with AD...and yes we do recognise that it is the capital.

Abu Dhabi's non oil GDP is barely equivelant to Dubai's (which is pathetic). and the contribution of oil in their GDP is about 60% (even more pathetic). The only good thing Abu Dhabi had was Sheikh Zayed and sadly he is gone.

Now it is Dubai and Sheikh Mohammed

I wouldnt change my mind until I see Abu Dhabi stopping abusing their citizens in the name of national security. :bash:

Abu Dhabi :wave:
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i like this project but i find it rather funny when i hear over passing Dubai =)
Dubai is the base the rest is building and taking advantage of what have been achieved by Dubai and this is the fact.
but on the other hand there is nothing wrong in watching other Emirates taking the same steps as Dubai did. ( ofcourse different timing and situation) as Dubai established all that and made the region a hot spot for investments not to mention that AD's Projects are Gov. funded unlike Dubai ( Gov + private sector ) who atrackted capital to it and gained benefits from each project as let other ppl benefit from it 2 ..
What Dubai is doing is being copied in the whole Gulf and there is nothing wrong with that as long as we dont see ignorant and haters posting Vs Dubai.
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