Just like Dubai real estate sector, Abu Dhabi also seems to be thriving in the realty sector. It seems that Abu Dhabi is no more relying completely on its oil reserves for upholding the economic cycle, as the state, with major real estate projects underway, has conjoined the realty development of the UAE.
Dubai is acknowledged for its exquisite real estate projects. The property projects undertaken by Dubai have set new benchmarks in the realty market of the world. For instance, the construction of Palm Jumeirah has amazed the world that real estate developments can also transcend the boundaries of land, as seas can be utilized for state of the art real estate developments. The state is home to various skyscrapers and the developers here seem to be vying for the construction of taller skyscrapers, with one skyscraper breaking the record of the other.
Usually Dubai is acknowledged for the rapid growth in realty market, as it savours the honour of having major real estate developments of the world. Nevertheless, it is not at all useless to postulate that Abu Dhabi is no more lagging behind in this race. With its major real estate projects underway, Abu Dhabi real estate also seems to be thriving in the realty market.
Master planned realty projects of Abu Dhabi
Apparently it seems that Abu Dhabi is no more relying solely on its oil reserves, as the real estate sector of the capital also receives its fair share of developers’ attention. Be it the properties for sale or flats for rent in Abu Dhabi, the realty market of Abu Dhabi is receiving investment influxes from property developers. These developers are working on proper plans, focussing on the structural framework of the city. Following are some of the property projects that harmonize Abu Dhabi with real estate developments in other states of the UAE in general and Dubai in particular.
- Masdar City
This is a unique project consisting of seven phases and is expected to complete by 2022. With a total budget of 52 billion, the project is meant to accommodate 50,000 residents. Masdar City is also planned to be environmental friendly by utilizing solar energy, even for the water desalination. Included in the project is the Masdar headquarters, which is presumable to be the world’s first power house having capacity of producing more energy compared to its consumption, with zilch solid or liquid waste.
- Capital city
Launched by Abu Dhabi Urban Planning council, Capital City- an ambitious real estate project located at a strategic location between Mohammad bin Zayed City and Abu Dhabi International Airport. Expected to set new standards in construction sector, Capital City will accommodate foreign embassies and federal ministries. The development is spread over the area of 4900 hectare and it is unique in the sense that it will be providing alternative ways of transportation aiming to reduce dependency on cars.
- Al Reem Island
With an expected budget of $30 billion to complete, Al Reem Island is a development project located on a natural Island, which is 600 metres away from the Island of Abu Dhabi. Famous Developers of Emirates including Reem Investments, Tamouh and Sorouh are working actively to undertake mega developments on this Island. With a capacity of accommodating 200,000 residents, Al Reem Island is expected to complete by 2018.
- Al Raha Beach
Al Raha Beach is expected to become one of the finest water fronts of the world. Construction work that was started in late 2006 is expected to complete by 2018. The project covers an area of 6.8 millions sq. metres and expects to serve as a gateway to Abu Dhabi.
Be it offices/flats/ apartments for rent in Abu Dhabi or Abu Dhabi property for sale, Abu Dhabi real estate is expected to flourish with the mentioned developments and many others of the same nature