Building the capital of the future (page 1 of 3)

The driving force behind the initiative is Abu Dhabi's desire to cement its place as the capital city of the UAE federation.

To this end, the government has initiated projects across industry sectors to coordinate timelines and ensure a controlled rollout of infrastructure and economic drivers, and the property to support it.

Currently the city is home to 1.4 million residents, and the government expects this to grow to 3.1 million by 2030. The majority of the new arrivals will be a white collar workforce servicing the planned new corporate and legislative hubs.

Abu Dhabi has also profited from, or is trying to catch up on - depending on the developer/investor/end user viewpoint -the building moratorium that was repealed in 2001, leaving the city with an enormous supply and demand imbalance in the real estate sector.

Business growth

While this may have helped to cushion it from the worst of the price collapses currently being felt in neighbouring Dubai, it has also meant that what commercial and residential units are available can be overpriced. The shortage has also deterred some global companies from setting up in the city due to the lack of property amenities, with Dubai or Bahrain appearing more welcoming.

It is this that the authorities are aiming to tackle with the Plan 2030, showing that Abu Dhabi is capable of becoming an international financial and trade hub, using the sustainable roll out of projects across the various industry sectors, including a focus on financial, legislative, environmental, tourism and trade developments.

A number of districts have been created, including specially-designated freehold areas in which non-citizens are allowed to buy units. The key zones being overseen by the UPC are; the Central Business District, the Capital District at Khalifa City, the Khalifa Port and Industrial zone, the Cultural District, Masdar city and Reem island and the new residential areas - all of which will be linked by a new state-of-the-art multilayered transport network.

The government has also committed close to $100bn to developing the emirate's Western Region, which accounts for approximately 83% of the land mass, but currently holds only 8% of the population.

New federal capital

The Capital District is the location planned to accommodate the seat of the UAE's federal government, and one of the key centrepieces of Plan 2030. The district will also be the main location for Abu Dhabi's own central government bodies, with the total value of projects estimated at $40bn.

Once finalised the zone is expected to provide 150,000, mostly white-collar, jobs, and house up to 370,000 people. The site will also house all embassies to the UAE and a number of tertiary education campuses, all of which will be serviced by its own transport infrastructure linking it to the rest of the city, and in effect creating a second 'hub' for the capital. The UPC is expected to unveil the final masterplans for the development of the zone during the Cityscape exhibition in April.

Surrounding districts

Saadiyat Island, which itself will contain developments valued at $28bn, will become one of the main focal points for the new city, housing a range of international cultural and entertainment attractions aimed at boosting the emirates' tourism market.

The Louvre and Guggenheim will both have museums on the island.