Greener shoots of growth in Abu Dhabi
At the height of the markets, real estate in the UAE was being forged as a vision of the future, in particular were the aspirations of property in Dubai as design and cost knew no bounds. But development of the extravagant in Dubai is to be paradoxically matched by the Masdar City Project of Abu Dhabi.
The project is another UAE design of future aspiration, boasting to be the world’s first carbon neutral city, with office space and homes to accommodate 40 000 residents & 50 000 commuters. The entire project has an end date of 2020, being constructed in four phases, the first of which is the campus of the Masdar Institute of Science & Technology. This is already in partnership with MIT and has a completion date of 2013.
The project will be a centre for the creation and development of future technologies and businesses in an environment built for the future but based on the heritage of the emirate. This is another example of how the UAE sees a very real and central role in the global future and the project is right on schedule. It also shows that despite everything, investment is flowing.