Abu Dhabi Infrastructure Developments – Global city in the making
The objective of this week's edition is to provide comprehensive information about the ongoing infrastructure developments in Abu Dhabi. Abu Dhabi, one of the world's largest producers of oil, has actively attempted to diversify its economy. This has resulted in more and more investments pouring into real estate, financial services and tourism, leading to infrastructural up gradation in the UAE capital.
Also, Abu Dhabi Investment Authority (ADIA), one of the largest of the world's sovereign wealth funds, owns almost AED 238 billion in assets. ADIA invests in equities, fixed income, real estate and infrastructure development.|
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The second major road development project is along Corniche Street that includes the construction of the new Corniche East Street and the expansion of the old road. The first phase of this project has been completed while the the second phase has begun that includes the development of the western part of Corniche Street.
The largest construction project on an external road is on Abu Dhabi-Al Guwaifat Street that is expected to cost more than AED 4 billion. Work is also on progress at Al Mafraq Road and Bridge worth AED 725 million. The work has already started and is scheduled for completion in 24 months.
Overpass Development: Saadiyat Bridge, connecting Saadiyat Island with Abu Dhabi city from the Mina Zayed main port area, is being built at an estimated cost of AED 671 million. Set to become one of the world's great non-suspension bridges, it involves the construction of a 10-lane freeway and the main 1.5 km long bridge. It will eventually link into the 6.5 km Saadiyat Link road, also under construction, connecting Abu Dhabi's Shahama district to Saadiyat Island.
AED 27 million Al Reem Bridge connecting Al Reem Island with the mainland is underway. There will be 3 bridge crossings linking Al Reem to Abu Dhabi as well as another bridge crossing to the nearby Saadiyat Island.
Public Transport: A well-conceived transit network will help guide and phase development in Abu Dhabi. Abu Dhabi has unveiled a public transport project to link areas within the capital and connect them to other emirates and GCC countries. The project will be implemented in several phases.
The first phase, which has already begun will last until 2010, is expected to cost AED 700 million. It will service Abu Dhabi with 1,360 air-conditioned, handicap-accessible buses by the end of 2010. The second phase of the project, which will link Abu Dhabi with other emirates and GCC countries, will be implemented within 5 years and it is due to be completed in 2013.
The public transport project also includes renovation of the existing 12 bus stations, development of 25 new bus stations and creation of 6 bus depots throughout the emirate. Over the next 5 years, 37 bus stations will feature an array of retail, banking, food and beverage and other facilities.
Airport: Abu Dhabi International Airport is currently undergoing a major expansion. The total amount earmarked for its master plan development is AED 1.85 billion. Once completed, the airport's 3 terminals will have an approximate capacity of 12 million passengers per annum.
Development work has also started on a major new passenger terminal, Midfield Terminal, to be situated between the 2 runways. Upon completion in 2012, it will take the airport's passenger capacity to more than 20 million per year.
The new Terminal 3 building, AED 1 billion interim facility to cater to the airport's passenger growth before the opening of the Midfield Terminal, is expected to be open in late 2008. To be used predominantly by Etihad Airways, the terminal will boost the airport's current 7 million passenger per year capacity to 12 million.
Abu Dhabi Airports Company (ADAC) has revealed plans to establish the Middle East's first dedicated executive airport at Al Bateen military airbase just 10 km away from Abu Dhabi city centre. The Bateen facility will be developed as an exclusive corporate jet facility and ADAC will invest more than AED 200 million in additional facilities at the airport that has been a military airbase.
Water/Electricity: Abu Dhabi expects demand for power to rise almost 80% by 2012 in the wake of boom real estate and industry sector in the emirate. According to Abu Dhabi's 5-year strategic plan, demand will rise to 10,600 megawatts in 2012 from 5,910 MW this year. Capacity will rise to 12,503 MW from 9,245 MW, led by 2 new power plants at Shuweihat to the west of the emirate. Shuwiehat 2 plant will have power capacity of 1,600 MW and will also pump 100 million gallons a day of water. Also afoot is plan to launch another strategic project, Shuweihat 3, with capacity of 1,500 MW and 100 million gallons of water.
Abu Dhabi Water and Electricity Authority (ADWEA) have drawn up plans to double the capacity of desalination plants in the emirate to cope with increasing demand. ADWEA have devised a 5-year strategy to produce 969 million gallons of water per day, virtually doubling the present capacity of desalination plants in the emirate.
Abu Dhabi Corniche Beach Development: Abu Dhabi Corniche is being transformed into a new 2 km long beach at the cost AED 105 million that can accommodate about 5,000 people. The new beach will have swimming areas, refreshment outlets, scenic gardens, walking pathways, shaded areas, beach volleyball pitches, children's play areas and toilets.
With the population growing at 7 per cent per annum and the government's increased interest in boosting the tourism industry and continuous development and modernization of infrastructure, the Abu Dhabi real estate sector is headed towards an unprecedented boom.
