Abu Dhabi embarks on $ 208bn projects


Khalifa City, with a budget of $ 40 billion, is the biggest single project and will be completed by 2030.

Yas Island Development is another massive project. Work has started and this $ 39 billion project has residential, hotels, beaches, marinas, retail, golf and equestrian facilities.

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

“The big difference for Abu Dhabi compared with other cities is that while the emirate will collect less in revenues from oil than the records set in 2008, the capital has been financially prudent and has a sovereign wealth fund estimated at $ 328 billion at the end of 2008,” said Mark Goodchild, Cityscape exhibition director for organizers IIR Middle East.

Saadiyat Island is another huge offshore development under way with a budget of more than $ 28 billion. It includes 29 hotels, three marinas, 8,000 residential villas and more than 38,000 apartments. The project also includes museums, concert halls, maritime history center, three harbors, a park, golf course and sailing club.

A $ 22 billion budget has been allocated for the ambitious Masdar City project, billed as the first zero-carbon, zero-waste city. It will depend on solar energy.

Many of these projects will be showcased at Cityscape Abu Dhabi, which takes place from April 19-22 at the Abu Dhabi National Exhibition Center.

The $ 18.5 billion Al-Raha Beach Complex is another attraction. It is a 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.

“Abu Dhabi is not immune from the global financial turmoil but has wisely avoided over exposure to the stressed international and regional credit markets,” said Mark Goodchild.

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

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-story buildings and house approximately 80,000 people.

Sheikh Mohammed bin Zayed City is another new city comprising 374 residential and commercial buildings as well as the associated infrastructure and entertainment facilities. It has a budget of $ 6.5 billion.

At joint No. 10 with master plan budgets of $ 3 billion each are the Abu Dhabi Light Rail project and the MGM Grand Hotel. The rail project will involve some 350 km of rail. The MGM Grand project will have two further branded luxury hotels and more than 1,200 rooms.

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