Abu Dhabi: A falcon’s view

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Hill International Ceo Irvin Richter.

Close to Abu Dhabi International Airport and Mohammed bin Zayed City, it will be a sustainable, mixed-use city for 370,000 residents, along with federal government buildings, universities, hospitals and embassies.

The Al Faleh project was also announced at Cityscape Abu Dhabi. It will include 5000 new homes for middle-income UAE families, worth US $2.6 billion (AED9.4 billion).

Aldar Properties, one of the emirate’s largest real estate developers, is overseeing construction of the fully government-funded project.

Work also continues to flow in the private sector. International Capital Trading, a privately funded developer, is overseeing the $436 million Nation Towers project on the Abu Dhabi corniche, which last month was awarded to a joint venture between Dubai-based Arabtec Construction and Abu Dhabi-based National Projects and Construction.

The flow of work does not end there. “We are also short listed for another two projects in Abu Dhabi valued at $817 million,” Arabtec boss Kamal revealed. Announcements on the projects are expected soon.

So how is the city achieving its success? Much is due to the attractive investment climate that the government has been able to create.

“Abu Dhabi has already put forward and communicated its own initiatives,” said Victory Heights general manager and Arcapita investment director Yasser Abdulla.

Al Gharbia

Also known as the western region of Abu Dhabi, Al Gharbia is the engine room, not of Abu Dhabi, but of the nation. It sits upon 10% of the world’s proven oil reserves and 4% of its natural gas. It is the fourth largest oil exporter in the world by volume, shipping over 2.3 million barrels per day.

The region generates 40% of the Emirate’s gross domestic product. The Urban Planning Council (UPC), the supreme planning body for the Abu Dhabi emirate, has big plans for Al Gharbia.

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