NewsAbu Dhabi
Dh5bn expansion of Khalifa City approved
The Urban Planning Council of Abu Dhabi yesterday approved a Dh5bn expansion of Khalifa City A, making the district grow from 7,000 to 53,000 residents by 2030. The plan includes the building of 4,500 villas, 100 apartments, 30 schools and 30 public parks, as well as shops, hotels and a medical compound. Uwe...
Construction work started on Guardian Towers
Construction work on the Guardian Towers in Danet Abu Dhabi has started, located within the Dh34bn community in the centre of Abu Dhabi. Guardian Towers consists of two 19-storey towers that are characterized and shaped by a distinctive sliced and shifted geometry. The towers are joined by a podium and...
List of ten Abu Dhabi projects worth $208bn
The organisers of Abu Dhabi revealed today a top-ten list of the most prestigious projects in Abu Dhabi. On the list are new cities, man-made islands and a light rail system. Despite the economic downturn, Abu Dhabi has been financially prudent and its sovereign wealth fund is estimated at $328bn. According...
Aabar spends Dh5bn on Al Reem Island
Aabar Investments announced yesterday the purchase of 12 towers on Al Reem Island in Abu Dhabi at a total cost of Dh 5bn. The tower buildings will be located on six land plots within the Al Reem Island development area, and the purchase agreement is signed with Tamouh Investments, who owns 60% of the...
Freehold owners in Abu Dhabi to get visas
A senior government official in Abu Dhabi has disclosed details about a federal law granting residency visas to owners of freehold property. This law is expected to be introduced within the year. The law will allow freehold owners to obtain a six-month renewable residency visa, regardless of their nationality...
Saadiyat Construction Village nears completion
Saddiyat Construction Village is close to completion and is soon to be inaugurated by the Tourism Development and Investment Company (TDIC) in Abu Dhabi. The 27 square-kilometre village, situated at Saadiyat Island, is one of the most advanced housing facilities for construction workers and will set...
Mohammed Bin Zayed City Towers to pioneer a new model for development
The Mohammed Bin Zayed City Towers in Abu Dhabi will pioneer a new model for development, according to KEO International Consultants’ Urban Development Division in Abu Dhabi. The master plan developed by the Abu Dhabi Municipality and KEO will outline sustainability and quality standards that the...
Yas Marina Circuit on schedule
Construction on the Formula1 track Yas Marina Circuit in Abu Dhabi is on schedule and expected to be completed in time for its premiere on November 1st, developers said monday. Ten percent of the 5.5-kilometer (3.4-mile) circuit for the inaugural Abu Dhabi Grand Prix — the final race on F1’s...
More confidence in Abu Dhabi real estate than in Dubai
Sorouh and Aldar, two of the major real estate developers in Abu Dhabi, have released their year-end financial reports for 2008. Both reports show net profit increases, even though both companies took a downturn in the last quarter of 2008. Aldar also took a hit when they announced they would stop working...
Sorouh puts future developments on hold
Abu Dhabi’s second largest property developer is delaying new projects until current developments are complete because of the economic downturn. According to Property Wire, it is a sign that the general decline in the real estate sector that has hit the emirate’s neighbouring Dubai is clearly...
