UAE Property Investment Forum

Abu Dhabi Property The Abu Dhabi property market came into the limelight when the Abu Dhabi government issued a law allowing foreigners 99 years leasehold ownership of select projects in the Emirate. Prior to this law, property ownership was restricted to locals and that too, within a select few. Abu Dhabi has announced a number of large scale projects, some even grander than those in Dubai. Al Dar Properties was the first company in Abu Dhabi to announce projects that allowed foreign ownership. Do you think Abu Dhabi will be as successful as Dubai? What kind of returns can investors expect in this market? Have you invested yourself in Abu Dhabi? Open up your suggestions and views here.

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randy Offline
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Default Central Market Redevelopment - 21-03-2007, 11:37 AM

The Central Market redevelopment is a prestigious and fully integrated mixed-use scheme at the heart of Abu Dhabi City. It is a landmark development for both Abu Dhabi and for ALDAR.

Designed by international prize-winning architect RTKL following an international design competition in which five of the world’s leading urban designers took part, RTKL has been commissioned by ALDAR to progress the project through to construction. To supplement and enhance this landmark development, ALDAR has also appointed award-winning architects Jafar Tukan and Rasem Badran to design this project’s new Mosque and Souk; whose achievements are evident throughout the Middle East and worldwide – both of them have won many major architectural awards, including the coveted Aga Khan Award for Architecture.

The overall redevelopment comprises apartments, an Arabian souk, branded retail outlets, food outlets and restaurants for all tastes, grade A office space, world class hotels, and parking for in excess of 5,000 cars. The development will also provide new civil services including a fire station, bus and taxi interchange points.

The Central Market is set against a pinnacle of four towers of 35 floors each, signifying the Hamdan and Khalifa Street addresses, over a multi-level podium. The redevelopment will offer an internal vista of green parks, pools and fountains, or views overlooking the Gulf . The bridge across Khalifa Street will connect to the new Souk. The new Souk will encapsulate Rasem Badran’s flair for traditional style and detailing of a Souk typical of the region, but set within a cosmopolitan area. Similarly the new Mosque will be located within its own piazza to provide, a tranquil and pleasing environment integrated with fountains and gardens.

Construction will follow a fast-track programme, with the first phase targeted for completion in the autumn of 2007.
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tony Offline
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Default Re: Central Market Redevelopment - 21-03-2007, 12:20 PM

Thanks for that!
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lane Offline
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Default Re: Central Market Redevelopment - 21-03-2007, 12:42 PM

This is amazing, I honestly didn’t think there would be high rises here.
I like how Abu Dhabi is advancing but steadily and not as fast tracked as Dubai
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kobe9820 Offline
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Default Re: Central Market Redevelopment - 21-03-2007, 12:54 PM

These towers certainly seem to break the height barrier existing all over Abu Dhabi. At least, that's what I can make out from the renders.... exciting stuff.
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kyler Offline
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Default Re: Central Market Redevelopment - 21-03-2007, 01:09 PM

Abu Dhabi: Hamdan Street in the capital will bear the burden of heavy traffic for 18 months from Saturday following the closure of a section of the busy Khalifa Street.

The part of the street between Heritage Square Roundabout on Rashid Bin Saeed Al Maktoum (Airport) Road and Liwa Street Intersection will be closed both directions as the construction work on a project for the new Central Souq is carried out.

The new market is being constructed on the Old Souq site from Hamdan Street, stretching over Khalifa Street as a modern multi-storey building.

With underground parking to solve the problem of the lack of parking for cars, it will also contain mosques, restaurants, bank branches, public toilets, entertainment centers, green areas and other facilities.

Costing about Dh350 million, the new air-conditioned market will be based on traditional Arab design, covering 60,000 square meters.

A section of the road on Khalifa Street has been closed for the construction work by the Traffic and Patrols Department of Abu Dhabi Police General Headquarters.

The department, however, provided alternate routes for traffic, particularly those getting into adjacent commercial and residential areas.

The department, through media advertisements, has also drawn the attention of road users to be careful and follow traffic instructions and to comply with the fixed speed limits and use the alternative routes.

According to motorists, almost half of the burden of the closed portion of the street will fall on Hamdan Street, which is already congested with traffic throughout the day. The majority of the traffic on Khalifa Street normally heads in this particular section, stretching for about 300 meters.

Abdul Gaffar, a Pakistani taxi driver, said: "Eighteen months is a long period for such a busy stretch of road to be closed in the city. Khalifa, Hamdan and Zayed the First (Electra) Streets are the lifeline of Abu Dhabi city. Closure of any of the sections of these streets means more traffic problems. The most affected will be Hamdan and Liwa Streets, as residents of the area and those in the commercial buildings will be using these two streets as alternate routes."

Another motorist said it will be tough to drive on any of the nearby roads in the evenings. Ali Ahmad Al Khoury, a UAE national, said: "This section of Khalifa Street is a very important part of the city. It will definitely affect the traffic on nearby roads. But I believe nothing else can be done as this project has to be completed. Looking at the area, there is no option but to close the section."

Entry into area will not be a problem official

According to Abu Dhabi Traffic Department, the alternative routes due to the closure on Khalifa Street have been planned considering all the possible hindrances and problems residents might face.

"There might be a little burden on Hamdan and Liwa Streets, but the entry of residents and those getting into adjacent commercial areas will not be a problem at all," said an official.

"Residents and traffic can still have easy entry and exit accesses available on Rashid Bin Saeed Al Maktoum (Airport) Road, Hamdan Street, Liwa Street and Corniche Street. The plan has been drawn very carefully for the convenience of residents."

But residents on either side of the affected section on Khalifa Street said the closure means difficult access to their residences and longer walks. Amit Kumar, an Indian resident, said: "We already have parking problems under our buildings. After the closure of the section, we have to park our vehicles at a distance and walk. This will also congest these residential areas as some of the entry and exit points will be closed and all traffic will move through the only available points."

Munir Kermani, another resident, said he will have to take longer routes to enter his residential area. He said: "We have to take the Corniche Street and enter the area. We also expect congested traffic flow entering these areas through limited accesses."
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