Shams Abu Dhabi
The New City in Abu Dhabi. Video
Fluor to manage Abu Dhabi Transportation Network construction
Fluor has won the contract from the Abu Dhabi, UAE Department of Transport to programme manage construction of the emirate’s new Integrated Public Transportation Network. The mass transit system is being created in response to Abu Dhabi’s expected growth over the next two decades, and is part of a wider project called Plan Abu Dhabi 2030. This will see public transport integrated with surrounding residential and commercial developments, in a bid to increase the use of public transport over cars.
Sorouh to focus on revenues from rental
Sorouh Real Estate is pinning its hopes on a rise in revenues from rental properties over the next two years after posting a second-quarter profit drop of almost 80 per cent. Sorouh is now counting on the delivery of homes at Sun and Sky Towers, on Al Reem Island, and Al Rayyana to boost rental income to Dh400m from Dh170m by the end of 2012.
Sorouh ranked as one of top GCC brands
Abu Dhabi-based Sorouh Real Estate announced on Saturday that a report recently ranked the company as one of the top 50 brands in the GCC, making it the only real estate developer to rise in its brand value.
U.A.E. lays groundwork for $ 400 million Dubai polysilicon plant
In June, Abu Dhabi-based Masdar revealed plans to build the world’s biggest concentrating solar plant with the help of French oil company Total and Spain’s Abengoa Solar. The $600 million Shams 1 project could displace 175,000 metric tons of carbon emissions annually once it is completed in 2012. Abu Dhabi is also planning to build a $22 billion zero-emissions city, also with Masdar.
Sorouh says profit plunges to Dh20m
Nomura stated: “Sorouh missed our Dh430 million revenue expectation by a lot. We had forecast the revenue risk to the downside in the eventuality that Sorouh could not maintain its quarterly run of ‘smoothing transactions [land sales, joint venture sales/exits etc]. In the previous quarter, revenues were boosted by a Dh216 million land plot sale in Shams Abu Dhabi”.
Accommodation
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Yas to launch state of the art spa
The Yas Hotel has announced that its state-of-the-art ESPA spa will open on 1st September. In addition to 10 treatment rooms, ESPA at The Yas Hotel features a rotunda – a cylindrical space comprising a serene sculpture garden wrapped around a central column that reveals a refrigerated inner core providing a cool sanctuary from the heat of the hammam.
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Business & jobs
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Renting still the best option for most
Nearly two years after the start of the financial crisis and property slowdown, the vast majority of the UAE’s residents do not own homes here, according to a survey of attitudes about the UAE’s economy. Property developers have focused on convincing UAE residents to buy property. Several developers, including Emaar Properties in Dubai and Sorouh Real Estate in Abu Dhabi, have launched “rent-to-own” schemes in which tenants can opt after a period to apply a portion of their rent payments towards purchases.
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Investment in gold
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Construction and technology
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U.A.E. lays groundwork for $ 400 million Dubai polysilicon plant
In June, Abu Dhabi-based Masdar revealed plans to build the world’s biggest concentrating solar plant with the help of French oil company Total and Spain’s Abengoa Solar. The $600 million Shams 1 project could displace 175,000 metric tons of carbon emissions annually once it is completed in 2012. Abu Dhabi is also planning to build a $22 billion zero-emissions city, also with Masdar.
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Abu Dhabi 2030
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Fluor to manage Abu Dhabi Transportation Network construction
Fluor has won the contract from the Abu Dhabi, UAE Department of Transport to programme manage construction of the emirate’s new Integrated Public Transportation Network. The mass transit system is being created in response to Abu Dhabi’s expected growth over the next two decades, and is part of a wider project called Plan Abu Dhabi 2030. This will see public transport integrated with surrounding residential and commercial developments, in a bid to increase the use of public transport over cars.
- More from Abu Dhabi 2030
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