Abu Dhabi to make a ‘quantum leap’ with $100 billion boom in mega projects

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By Tom Arnold  www.thenational.ae

ABU DHABI // A US$100 billion raft of housing, schools, transport and other projects will transform Abu Dhabi into an integrated, cosmopolitan global city.

“All these mega projects will contribute in making a quantum leap in the infrastructure of Abu Dhabi,” Fahad Al Raqbani, director general of Abu Dhabi Council for Economic Development, said in a new report.

“These projects will emphasis the economic competitiveness of the emirate, empower the role of the private sector and sustain the local economy’s growth in a manner that will lead to accomplishing the objectives of the economic vision 2030.”

The report coincides with the resumption of a number of projects stalled in the wake of the financial crisis.

About 22,000 new homes were completed in Abu Dhabi in the last three months of 2013 with another 22,000 expected to be handed over this year, according to Jones Lang LaSalle, the property consultant. It says a key trend of the last year has been the revival of projects put on hold during the downturn. More info

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