The United Arab Emirates is witnessing an unprecedented boom in its construction sector with huge mega project announced this year to reflect a robust and consistent growth.
The massive construction boom is covering all parts of the UAE. Major companies such as ALDAR, Emaar, Sorouh, Nakheel, Dubai Properties, Manazil, Al Qudra, Reem, Tameer, Dubai Land and Sama Dubai, have already announced huge projects on the card.
Projects under construction in the UAE are estimated to exceed Dh 1.83 trillion, registering a growth rate of 83.4 percent over 2006. UAE scoops 39.4 percent of the projects in the whole GCC region.
The massive construction boom is covering all parts of the UAE. Major companies such as ALDAR, Emaar, Sorouh, Nakheel, Dubai Properties, Manazil, Al Qudra, Reem, Tameer, Dubai Land and Sama Dubai, have already announced huge projects on the card.
Projects under construction in the UAE are estimated to exceed Dh 1.83 trillion, registering a growth rate of 83.4 percent over 2006. UAE scoops 39.4 percent of the projects in the whole GCC region.
The UAE has also earmarked over Dh 454 billion to develop 325 natural and man-made islands, including Al Saadiyat in Abu Dhabi, the Lagoons in Dubai, Jebel Ali Palm, Deira Palm, Umm Al Shauoom, Sayara, Mangrove and Fujairah Islands.
In 2006, UAE developers announced 332 projects with a total value of Dh 1.4 trillion. The total value of projects to be built in Abu Dhabi is Dh 715 billion, while projects in Dubai are estimated at Dh 653 billion and projects in other emirates at Dh 213 billion.
In September, President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued in his capacity as Ruler of Abu Dhabi a new law setting up the Abu Dhabi Urban Planning Council.
The new body, known as Urban Planning Council (UPC) is chaired by General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, who is also Chairman of the Abu Dhabi Executive Council.
The UPC membership is designed to ensure that all government policy portfolios relevant to the comprehensive urban plan are represented.
As per law No. 23 for 2007, the Abu Dhabi Urban Planning Council shall be an independent corporate body enjoying financial and administrative independence and full legal status to operate.
UPC will be headquartered in Abu Dhabi city with branches and affiliate offices in Abu Dhabi and other emirates.
The UPC will be tasked with laying down comprehensive plans, policies, regulations, licenses, procedures and controls for urban development and planning of remote areas.
It will also be tasked with setting up procedures for approval of public and private urban development projects.
Other duties of the new council include the preparation and amendment of regulations, controls, guidelines and procedures for urban development projects including utilities, construction works and lands in line with the general plan and policies.
Verification and revocation of construction licenses and permissions issued by municipal departments of the emirate also fall within the jurisdiction of the newly set-up council which will be the sole body to issue construction licences for projects that are deemed strategic or have impacts on the emirate's urban development policies and plans.
The new law authorizes the UPC to delegate powers to other governmental departments, as well as, monitor performance of the same.
UPC will be headquartered in Abu Dhabi city with branches and affiliate offices in Abu Dhabi and other emirates.
The UPC will be tasked with laying down comprehensive plans, policies, regulations, licenses, procedures and controls for urban development and planning of remote areas.
It will also be tasked with setting up procedures for approval of public and private urban development projects.
Other duties of the new council include the preparation and amendment of regulations, controls, guidelines and procedures for urban development projects including utilities, construction works and lands in line with the general plan and policies.
Verification and revocation of construction licenses and permissions issued by municipal departments of the emirate also fall within the jurisdiction of the newly set-up council which will be the sole body to issue construction licences for projects that are deemed strategic or have impacts on the emirate's urban development policies and plans.
The new law authorizes the UPC to delegate powers to other governmental departments, as well as, monitor performance of the same.
Earlier in September, Abu Dhabi government published its 'Plan Abu Dhabi 2030: Urban Structure Framework Plan' and sought suggestions from the media and others to formulate a comprehensive plan for the development of the city of Abu Dhabi. The plan is aimed at making Abu Dhabi a global capital city.
Under the plan, the city is projected to grow to house over three million people by 2030. The plan envisages a diverse mix of housing options, including Emirati housing inspired by the traditional family structures of the local community and affordable ones, for all citizens and residents.
The plan has been created under the directive of the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, to fulfill the grand design envisaged by the late Sheikh Zayed bin Sultan Al Nahyan. It specifies the land uses, building heights and transportation plans for the entire metropolitan area of Abu Dhabi. The plan includes developing apartment buildings, eco-friendly villages and deserts, enhancing the transportation facilities and an extensive central business city in a new region in Abu Dhabi.
The newly formed Urban Planning Council (UPC), which was announced at the Press conference, will facilitate constructive dialogue between the public and private sectors involved in the real estate and property development sector in Abu Dhabi. The private sector was widely consulted in formulating the plan and has formally been briefed on its contents.
According to a report published by the Abu Dhabi Chamber of Commerce & Industry, the emirate's booming construction and building sector is projected to establish itself as the most magnetic business sector in 2007 with total inward investment growing by 346 per cent to Dh 580 billion against the previous figure of Dh 130 billion.
Abu Dhabi has recently announced a set of 'mega projects' that are deemed to remodel the city's architecture. Aldar Properties and Sorouh Real Estate are planning the largest projects on Yas Island, Al Raha Beach, Saadiyat Island and Al Reem Island with an estimated total development cost of US$48 billion.
Ferrari and Aldar Properties teamed up to develop a theme park that will be based on the Ferrari brand as part of the 1,700 hectare Yas Island development. An important feature of the facility will be an advanced and sophisticated circuit on which, besides races, tests and driving courses will be run. The concept will also include hotels, retail, residential and hospitality elements embracing the design ethics of the Ferrari brand.
Al Raha Beach will feature residential, commercial, cultural, entertainment and public facilities, which will house up to 120,000 residents. Located on the beach side of the main highway leading into Abu Dhabi from Dubai, the development consists of eight districts, each with its own identity.
Saadiyat is earmarked to become a strategic international tourism destination offering some 29 hotels with more than 7,100 rooms, three marinas and two golf courses. The island's beachfront will be home to 14 resorts of four-star and higher categories. Upon completion of the development, it is expected to house approximately 150,000 people.
The Al Reem Island project is spread across 650 hectares, just off the coast of mainland Abu Dhabi, and is envisaged to contain a business district, a commercial district and a residential district. It is estimated that the island will accommodate 250,000 residents and will boast amenities such as schools, medical clinics, shopping malls, restaurants, a 27-hole golf course, hotels, resorts, spas, gardens and beaches.
The Shams Abu Dhabi project on Al Reem Island will be home to the Gate area which will form the entrance to the project, featuring eight towers and the 83-storey, 379-metre-high Sky Tower that will become the focal point of the development.
Lulu Island is a 425-hectare man-made island off the Coast of Abu Dhabi Island facing the Corniche Road. Land reclamation was completed in 1992. After several plans which were subsequently dropped, the island is now being developed by Sorouh as a mixed-use commercial and residential project.
Plans to build a new international airport were approved in May 2005. The US$6.8 billion airport will be located towards the north of the existing airport's runway. The capacity will increase to 50 million passengers from 6.2 million currently.
Other major developments such as the Al Gurm resort, Central Market project, Danet Abu Dhabi or Mohammed Bin Zayed city will also contribute to the emirate's economic growth and demand for tourism accommodation.
In August, H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai, has issued a decree establishing a Real Estate Regulatory Authority in Dubai.
To be affiliated to the Department of Lands and Properties, the real estate authority shall be an executive and corporate body with an administrative and financial autonomy.
It shall exercise powers to regulate the property development sector in the emirate.
According to the decree, the jurisdiction of the real-estate authority shall cover four main aspects that include real-estate policies, strategies, regulation, registration, in addition to conducting studies and projects.
The authority shall oversee the operations of property developers, property management companies, property financing institutions, property brokers and property owners' association.
He also issued a decree, establishing the Dh 1 billion 'Deira Investment' which will set up property projects in Dubai worth Dh 5 billion.
It shall exercise powers to regulate the property development sector in the emirate.
According to the decree, the jurisdiction of the real-estate authority shall cover four main aspects that include real-estate policies, strategies, regulation, registration, in addition to conducting studies and projects.
The authority shall oversee the operations of property developers, property management companies, property financing institutions, property brokers and property owners' association.
He also issued a decree, establishing the Dh 1 billion 'Deira Investment' which will set up property projects in Dubai worth Dh 5 billion.
Palm Island.
Three artificial islands in the shape of palm trees will shelter nearly 500 apartments, 2 000 villas, 25 hotels and 200 shops of luxury. Palm Jumeirah, the most advanced, will be completed as of the end of 2005. Hundred twenty-five kilometers of coast additional will be thus created.
List of Dubai's completed and under construction projects include the Palm Islands, the World, and Burj Dubai, a phenomenal tower designed to reach the 800 meters height. Other projects include Dubai Marina, Dubai Sports City, Ski Dubai, Madinat Al Arab, Hydropolis, Old Town and Mudun (citifies), a 73 million square feet development depicting five of the most prominent cities in the Arab world, including Baghdad, Beirut, Cairo, Damascus and Marrakech. Source
List of Dubai's completed and under construction projects include the Palm Islands, the World, and Burj Dubai, a phenomenal tower designed to reach the 800 meters height. Other projects include Dubai Marina, Dubai Sports City, Ski Dubai, Madinat Al Arab, Hydropolis, Old Town and Mudun (citifies), a 73 million square feet development depicting five of the most prominent cities in the Arab world, including Baghdad, Beirut, Cairo, Damascus and Marrakech. Source
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