1 Saadiyat Island Cultural District 2 Yas Marina and Hotel 3 Ferrari World 4 The Louvre Abu Dhabi
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The company recently issued a project update on its mixed-use Central Market development, set in the heart of Abu Dhabi city and designed by Foster + Partners. The project will contain a traditional Arabian souk area, which is set to be delivered by mid-2010, as well as the Emporium – a high-end shopping mall – which is scheduled to be completed by the end of 2011. The rest of the development – including three towers housing apartments, offices and a five-star hotel – will be delivered by the end of 2012. The first phase of the mammoth Yas Island project, valued at around US$40 billion,
was completed in November 2009 for the inaugural Abu Dhabi Grand Prix. Another major component, Ferrari World – the world’s first Ferrari theme park, with a roof covering an incredible 200,000 square metres – is due to open in the second half of this year with a ‘super mall’ rounding out the leisure experience at the tail end of 2012. But, like other developers, Aldar has also had to re-evaluate its strategic assets and future focus which saw the recent sale of infrastructure and property assets on Yas Island to the Abu Dhabi government for AED9.14 billion (US$5.3 billion). Meanwhile, work on the massive Saadiyat Island project, by Tourism Development
and Investment Company (TDIC) is rolling ahead. In February 2010 it was announced that tenders are expected to go out before September this year to build the Louvre Abu Dhabi. Groundbreaking for the museum started in May 2009, and has now entered the piling works phase. The project is expected to be completed in 2013. Designed by Jean Nouvel, the Louvre Abu Dhabi is one of five museums to be built on
Saadiyat island, a vast complex of luxury hotels, golf courses, marinas and private villas set for completion in 2018. The development will include the Guggenheim Abu Dhabi museum, designed by Frank Gehry. Gehry is also designing the clubhouse for the newly-opened Saadiyat Beach Golf Club.
The Canadian architect describes his Saadiyat experience to Cityscape magazine: “I don’t know anywhere else in the world that would have done anything like this. The experience for me with the museum has been very special. I didn’t expect it. It’s a new culture for me, and a learning curve to understand the client’s intentions. It took a while to build up a trust between us but it’s now bearing fruit.”
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In February, TDIC announced that the first phase of the redevelopment of the
historic Al Bateen Wharf’s Fisherman’s Marina – situated in Abu Dhabi’s oldest occupied area – has been completed. The second phase is due to be finished in the second quarter of this year, while the entire project is scheduled for completion in the first quarter of 2013. Infrastructure within the emirate is set for marked improvements in the coming
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years. New plans announced by Union Railway propose a high-speed rail link between Dubai and Abu Dhabi which could travel at speeds of up to 200 kilometres per hour. This passenger proposal is set to undergo a feasibility study. Union Railway was established last year to lead plans for a 1,500-kilometre rail
network across all seven emirates that would primarily carry freight and support industries such as steel, concrete and petrochemicals. The project is expected to cost up to US$11 billion and would be opened in phases from about 2013 to 2017. The first phase of Abu Dhabi’s US$218 billion Khalifa Port is set to start operations in 2012, while the fifth and final phase is due for completion in 2030. The emirate plans to develop smaller ports to cope with increasing traffic, such as Mina Mussafah, Shahama port, Ras al Ghaf and Al Sadr.
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Aldar has already shown its mettle with the delivery of several projects including hospi- tality and leisure fac ilities on Yas Island
apr-may 2010
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