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Louvre, Guggenheim projects revived in Abu Dhabi after review
Abu Dhabi, the oil-rich sheikhdom that’s transforming itself into a business and cultural hub, plans to resume suspended real-estate projects including branches of the Louvre and Guggenheim museums after reviewing their viability, the government said.
$968 Billion in projects set for GCC
A 131km metro system in Abu Dhabi is forecasted to begin in 2015. A pan-GCC rail system is in the works, with an updated value of about $30 billion. This network will include the first rail line linking all the GCC member states.
GCC set to invest $968b in 1,638 new projects
Over the next decade, the GCC countries, underpinned by record high oil revenues, are planning 1,638 major projects worth more than $968 billion across various sectors, Kuwait Financial Centre, or Markaz, said. Over 80 per cent of these projects are construction, infrastructure and petroleum industry related projects, the report said.
IATA awards Abu Dhabi International Airport for fast travel
The Abu Dhabi International Airport received the golden award for Fast Travel from International Air Transport Association (IATA), becoming the first airport in the region to adopt IATA’s latest initiative in response to growing passenger demands for more adequate and speedy travel procedures at airports.
Abu Dhabi’s necessary two steps backward
The reassessment of Abu Dhabi’s Vision 2030 resulted in job cuts and project delays. It would’ve been nice without a negative knock-on effect but perhaps it just couldn’t be helped. Even with a recent report that Abu Dhabi is now expecting to handle a million passengers a month, Abu Dhabi’s business landscape looks pretty shaky despite great momentum its aviation industry displays.
AED3.4 billion Adventure World theme park for Abu Dhabi
Tourism in Abu Dhabi is set to have a big boost with the development of Adventure World. The year-round theme parks consist of more than 25 attractions for all the family, themed hotels and entertainment, along with a large aqua park.
Abu Dhabi will undergo short-term fall in demand
Abu Dhabi’s real estate market continues to have a very bright future as government spending ramps up again and the newly delivered supply gets absorbed by tenants upgrading and expanding. There has already been major progress in the delivery of Vision 2030.
Abu Dhabi urged to press ahead with projects
Habtoor Leighton is rescheduling payments to troubled developers, including Dubai Holding’s Dubai Properties. Habtoor Leighton is part of an international consortium building a segment of Dubai airport’s Terminal 3, and is embarking on arbitration with the civil aviation authority over a Dh2bn-Dh2.5bn
Abu Dhabi Municipality set to unveil development plans at PPP Middle East
The government of the Municipality of Abu Dhabi has voiced its strong support for the upcoming PPP Middle East conference, due to take place at the Hilton Abu Dhabi this January. The event will not only cover the future development of PPPs in the region but will also have a specific focus on procurement projects in Abu Dhabi.
Italian consortium wins $900 million UAE rail deal
Etihad Rail plans to spend nearly $11 billion in the coming years to provide freight and passenger services throughout the country. Early stages of the project are concentrated in oil-rich Abu Dhabi, the federal capital and the country’s largest emirate.
