Full speed ahead for Aldar's transformation of Abu Dhabi

The new leadership of Abu Dhabi has established several property development companies in just over a year which are well capitalized and embarking on new projects with a speed not seen in the city since the 1970s oil boom. Aldar Properties took journalists on a tour of its building sites this week, and revealed how quickly and efficiently its projects are rising from the ground.

In the middle of the 10.5 kilometre-long Al Raha Beach Development a British civil engineering consultant has established a palatial office for its professional staff now overseeing the ground works.

This comprises the removal of existing sea defenses and the creation of a five million square metre site for eight new hotels, a total of 60 plus towers and an extensive landscaped community to be home to 120,000 people. Delivery of the project is phased over 10 years.

Al Raha Gardens

Adjoining the site is the Al Raha Gardens. Here the 338 villas in phase one are now empty shells but will be ready for handover in March 2007. They sold out in 45 minutes, and the second phase of 470 high-specification villas are under construction. There is also the nearby Abraaj development of 750 apartments in an advanced state of construction.

Aldar officials say that they have learned from the experience of the Dubai development boom. For example, the impact of the new projects on traffic flow in Abu Dhabi has been carefully considered. They want to keep the time taken to cross the city to 20 minutes.

Meanwhile, Aldar has just handed over its first project, a beautifully finished diabetes clinic run by the Imperial College London in downtown Abu Dhabi. This might seem an unusual first development project but it allowed Aldar to work with Saudi Oger for the first time and show its skill at delivering a prestige project.

New Central Market

Other projects still require more imagination. For example, the $700 million Central Market is currently the largest hole in the ground in the Middle East. This is the new site for the old souk of Abu Dhabi and the former shop owners each have units in the new building which will be fully completed by the end of 2009.

The Central Market development includes three towers, one each for residential, commercial and hotel use, and the last soars to 50 storeys. This is typical of the new Abu Dhabi's style, bold, confident and world-class in architecture.

Just outside the downtown Aldar is also building the $400 million Al Gurm Resort, and ecologically sensitive development of 60 villas in a mangrove swamp, of which nine will be on private islands, plus a 161-room five-star hotel operated by the Banyan Tree Group.

This is a formidable line-up of projects for such a young company, but Aldar is not alone. There is also Sorouh with its massive Al Shams development; the Reem Island project to house 200,000 people and the latest Sadiyat Island scheme is for 250,000 residents.

Clearly the world is going to hear much more about Abu Dhabi and its development projects over the next five to 10 years. But in the case of Aldar Properties its first project has just been handed over, and work is advancing rapidly on its huge portfolio.