INFRASTRUCTURE
ABU DHABI’S INFRASTRUCTURE BOOM SET TO BOLSTER REAL ESTATE Multi-billion dollar schemes to ramp up economy and reignite property demand
to a raft of infrastructure and real estate projects. Alongside investments in housing, healthcare and education, the emirate’s Executive Council signed off immense rail, road and airport schemes worth billions of dollars. On completion, these plans will overhaul the city’s connectivity and provide vital links for trade and tourism. High on the agenda is the creation of the UAE’s first cargo railway line,
A
a AED40bn ($11bn) track set to span 1,200km, connecting ports and factories in the Gulf state’s seven emirates. Te first phase of the track will allow Abu Dhabi National Oil Co to ship
products from its facilities in Habshan, to the port in Ruwais for export. Te first trains are slated to start running in 2013. A second track will link Abu Dhabi and its huge industrial free zone
Kizad to the port of Jebel Ali in Dubai, before linking up with Saudi Arabia and Oman. A third line is expected to run from Dubai to the five northern
bu Dhabi’s bid to diversify its economy away from oil received a significant boost in January when the UAE capital gave the green light
emirates, including Fujairah and Ras al Khaimah. Crucially, the track will give industrial companies an alternative to slow
road and sea journeys for bulk shipments, accelerating transit times for materials. Tis feeds into Abu Dhabi’s push to grow industry, attracting firms eager to capitalise on the city’s strong trade ties, said Shadi Malak, commercial executive director at Etihad Rail. “Our network will be a rapid, cost-efficient means to transport incoming
raw materials and finished goods for distribution,” he said. Any boost to industry also spells good news for Abu Dhabi’s property
market. An influx of new companies will provide new jobs, and attract new residents to the emirate, helping to mop up the thousands of new homes set for completion in the next few years. Some 28,000 new properties are scheduled to come online in Abu Dhabi in 2012 alone, according to real estate consultancy Jones Lang LaSalle. “It’s good for the property sector,” said Loshini Lawrence, operations manager at Better Homes, Abu Dhabi. “Any kind of upward investment in
30 I CITYSCAPE I APRIL 2012
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