14 January
2012
Category: Projects

Abu Dhabi sets up new tourism authority

Abu Dhabi has announced a shake-up in its tourism sector which sees a new authority formed to oversee the UAE capital’s n ...

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14 January
2012
Category: Projects

Abu Dhabi Crown Prince Court installs solar power

The Court of HH Mohammed bin Zayed bin Sultan Al Nahyan, the Crown Prince of Abu Dhabi, has been equipped with solar power, the ...

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14 January
2017
Category: Projects

Abu Dhabi construction industry scales back sharply

Dubai: Abu Dhabi is fast becoming the vast construction market in the GCC. UAE developers are set to experience a lacklustre q ...

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14 January
2017
Category: Projects

Abu Dhabi a bigger construction site than Dubai within four years

The volume of construction activity in Abu Dhabi will outpace neighbouring Dubai within four years, delegates at the MEED confe ...

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14 January
2012
Category: Projects

Abu Dhabi a bigger construction site than Dubai within four years

This building boom will allow the population of the city to double within a decade and the focus is very much on private sector ...

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Abu Dhabi construction industry scales back sharply

Dubai: Abu Dhabi is fast becoming the vast construction market in the GCC. UAE developers are set to experience a lacklustre quarter with Abu Dhabi in particular set to suffer from cut-throat price competition and a scale down in government plans, according to a new report by Arqaam Capital Earlier this week, a major construction tender at one of the capital’s most high profile developments — the Guggenheim Abu Dhabi — was cancelled as part of a review of ‘project procurement strategy’, according to the Tourism Development and Investment Company. “The slowdown in Dubai’s construction industry has redirected the majority of UAE-based contractors towards Abu Dhabi for growth,” said Mohammad Kamal, research director at Arqaam Capital. “To replenish order books on the back of the government’s 30-year development plan. The ensuing price competition has been detrimental to margins across the board.” “The space has also become crowded as a result of cuts to the emirate’s development budget, and the cancellation or suspension of key contracts, such as the construction tender at the Abu Dhabi Guggenheim Museum. “Many projects have been scaled down or suspended and development budgets have been extended over longer timelines. The end result has been an overcrowded space with diminishing prospects.”

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