Tag Archives: Construction

Emaar’s new Tower at Dubai Creek Harbour unveiled

Finally it has been made official. Emaar Properties, one of the most appreciated developers in Dubai with several successful projects already completed like The Greens, Dubai Mall, Burj Khalifa and the whole Downtown neighborhood, is going to beat his own records.  After having developed the current tallest building in the world, it has recently unveiled what could be the world’s new tallest tower.

Even though the official height still has to be disclosed, Emaar management has confirmed that it will be a “notch taller than Burj Khalifa” that with its 828 meters mesmerizes thousands and thousands of visitors every day.

The tower is expected to cost 1 billion USD and will face competition from the 1,000 meter high Kingdom Tower in Jeddah (KSA), currently under construction, for the “tallest building in the world” title.

The tower was designed by Spanish architect Santiago Calatrava, who has designed masterpieces of architecture like the Museum of Tomorrow in Rio de Janeiro or Athen’s Olympic Sports Complex, and was inspired by the Islamic minaret structure as well as a lily bud.

Emaar New Creek Tower

“Inspired by a Nation. designed for the World” is Emaar motto for the challenging Project – Photos from Emaar website.

The tower is going to be built as part of a wider Project knows as Dubai Creek Harbour, a mixed use development located in proximity to Ras al Khor Wildlife Sanctuary and its flamingos and many species of waterbirds.

The aim of the 6 sq km development was very well explained by Mohamed Alabbar, chairman of Emaar Properties:

“With The Tower, we are delivering a compelling destination that will add long-term economic value to Dubai and the UAE. It will also position Dubai Creek Harbour as one of the most desired residential, leisure and touristic attractions, providing visitors and residents with a modern, luxurious and sustainable environment in which to live, work, learn and entertain.”

The Tower and the Project are presented in the recently released videos prepared by Emaar.

 

The sky is the limit.

 

Revealed: Dubai Metro “Route 2020″extension works to begin soon

It is official, after months of statements, reassurances and postponements, we are finally there. Work on Route 2020, the 15km extension of Dubai Metro’s Red Line, will begin in the next few months, Abdul Mohsin Ibrahim Younus, CEO of RTA’s Rail Agency revealed at Middle East Rail Conference on Tuesday.

“Work on Route 2020 will begin immediately after we award the tender, which will be within the next few months. The extension will be ready before Expo 2020”

The Route 2020 will pass through Discovery Gardens and Dubai Investment Park on its way to the venue of Expo 2020. Heading from Nakheel Harbour and Tower station, the route serve seven additional stations, 2 of which will be underground as also reported by Dubai Metro website. The newly served communities are inhabited by about 240,000 people and the project will not be only beneficial for those visiting the Expo 2020 area but also for the many residents living in the outskirts of the city. The journey from Dubai Marina area to the site of Expo will take 16 minutes and from Dubai International Airport (DXB) to Expo will take about 1 hour.

But this is not the only news about the metro expansion. The red line is foreseen to be further extended to Dubai World Central – Al Maktoum Airport (DWC) and the green line will increase of almost 21 km from Al Jaddaf Station to Dubai Academic City passing by Ras Al Khor, International City and Silicon Oasis.

According to Mr.Younus, also the Dubai Tram will be extended by 5 km due to its popularity and success. Phase 2 of the Tram will serve iconic landmarks like Burj Al Arab and Madinat Jumeirah.

For those regularly using the Metro, it is evident of its success. Any given time of the day or the night, the metro is busy with people commuting to work or simply going to any of the well known landmarks like Mall of Emirates, Dubai Mall, Gold & Diamond Park and so on. I am personally not really convinced by the performance of the Tram but I noticed that it ranks in the top attractions to see in Dubai in many popular holidays websites.

Featured Image from KhaleejTimes, image in the article from Dubai Metro website.

Construction news: more than 390 billion USD projects ongoing in Dubai

The total value of projects under construction in Dubai equates to $53.6 billion, with a further $337.2 billion in the planning stage.  These are significant amounts of investment for most mature economies, but for an emerging market such as Dubai, they are extraordinary figures which provide evidence of Dubai’s ambition to diversify its economy away from oil-centered revenues. In this way we can summarize the new report “The Dubai Construction Pulse” published by Deloitte and MEED Projects, which analyses the construction market across a range of sectors.

Analyzing the data provided in the report, it is evident that the majority of the construction projects currently ongoing in the Emirate are related to residential and hospitality sectors with a 60% of the total value involved while 65% of the planned projects fall within the mixed use developments, most probably because of the EXPO 2020’s requirements.

Dubai Construction Projects Status

“Despite regional security concerns and wider macro-economic turbulence, Dubai continues at pace with significant project awards in Q1 2016, including the Palm Gateway Towers, Phase II of the Atlantis Resort and Dubai Creek Harbour to name but three”, said Ben Hughes, director at Deloitte Corporate Finance Limited, regulated by the Dubai International Financial Center.

Previously stalled projects have been resurrected, but new project awards have reduced since 2014-2015 as a result of regional economic uncertainty

The conclusions of the report are particularly interesting and are here below summirized.

“The current concerns relating to low oil prices and diminished market sentiment has clearly had a short term impact. Whilst the ongoing geo-political factors equally have profound effects, the fact that many Governments across the region, not least the Government of Dubai, are continuing to spend on infrastructure and other strategic developments suggests that they foresee the oil price issue and political turmoil as a temporary one.

[…] The mere action of building a project and expecting the demand to be there no longer applies, as the fundamental cost basis for these projects remains volatile and competitive. Focusing on factors such as affordability, differentiation and quality are going to be increasingly important factors, and it is hoped that such considerations will ultimately underpin the rationale for conceiving projects.

Simply constructing the tallest or most unique project no longer provides the impact it once did, so diversifying the offer by promoting a world class standard appears to be the mantra moving forwards.

[…] What is interesting is the connectedness of Dubai as an increasingly “smart city”, and […]  Dubai may even mature to the extent that it could surpass some of the more established cities across the world, such as London, Paris or New York, in terms of its level of sophistication and dedication to sustainability, smart city principles and ultimately success in delivering projects that are demand driven and profitable.”

Other than on “The Dubai Construction Pulse” website by Deloitte, the matter has been analyzed and reported by well done articles published on SaudiGazzette and Gulf Construction Online.

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Contractors face slowdown in Abu Dhabi unless new projects come to market

I particularly liked the article by  about the current status of the construction sector in Abu Dhabi published yesterday on the local newspaper The National, an extract of which is here under reported.

by Michael Fahy, The National, 20 February 2016

The feeling construction companies operating in Abu Dhabi have is that not enough projects are coming to market to replace those being completed.

BMI Research said Abu Dhabi’s GDP growth is set to slow to 2.8 per cent this year, down from 4.3 per cent last year. It said that construction would outperform the overall economy, with an average annual growth rate of 5.9 per cent predicted between 2016 and 2020 across the UAE.

Richard Marshall, a senior infrastructure analyst at BMI Research, said that there are US$103 billion worth of UAE projects under construction, with $45bn of that in Abu Dhabi alone – more than any other emirate.

The pipeline of projects due to come to market is just $62bn. Given that more than 70 per cent of the $103bn of live projects is due for completion in 2017, a potential slowdown in the sector awaits unless more tenders come to market.

Moreover, the biggest project in the pre-tender phase is phase two of the Dh40bn Etihad Rail project, which was suspended last month until a review for “the most appropriate options for the timing and delivery” of the project is undertaken.

“Other GCC markets have been slow to deliver on their sections of the planned [railway] network, which has lessened the pressure on the UAE to meet the 2018 deadline.” said Mr Marshall.

On Wednesday, the ratings agency Moody’s said that Abu Dhabi was facing an economic slowdown as a result of government cuts in response to lower oil revenues.

Moody’s senior vice president, Steven Hess, said that a prolonged period of low oil prices could gradually erode the emirate’s fiscal buffers if it did not maintain prudent budgeting, but that it has enough reserves to be able to finance fiscal deficits for five to 10 years if it liquidated some of its assets. “Overall, the [emirate’s] considerable foreign assets should mitigate the negative consequences of oil price volatility on Abu Dhabi’s fiscal and external accounts,” said Mr Hess.

Read the full and original article on The National.

‘The Frame’ and ‘Dubai Eye’ work progress disclosed!

Two of the most iconic Projects that will characterize Dubai’s future landscape and are deemed to attract many millions tourists are proceeding well and their completion date seems closer and closer.

From my office’s window I have a beautiful view of downtown and ‘The Frame’ and for this reason I was able to monitor the progress of the works constantly. After weeks of activity on the pillars, finally the main contractor completed the frame and started working on the finishing. ‘The Frame’ Project has an estimated cost of almost 44 million USD and is expected to attract 2 million visitors per year.

The Frame - Dubai - Progress

‘The Frame’ Project is expected to be completed in the first half of 2016

The other sensational Project that is progressing at an incredible quick pace is Dubai Eye, the ferris wheel that is being constructed in front of Jumeirah Beach Residence on an artificial island. The works  have recently reached a good point and the skeleton of the supporting structure of the wheel is now easily recognizable.

Dubai Eye in Progress

Dubai Eye Project Progress as of end of October