Saadiyat Island to be ready by 2020
Abu Dhabi, May 19, 2009
Abu Dhabi’s Saadiyat Island, a beachfront tourism destination which includes cultural projects such as Louvre and Guggenheim museums and the only tidal and ocean golf courses, would be completed by 2020, said a report.
The project, positioned to become a flagship for Abu Dhabi, was originally projected to be completed by 2018, the National reported.
The Tourism Development and Investment Company (TDIC), the project developer, said the first phase of the development project was on schedule and construction work on the project’s St Regis hotel was due to start in July.
The construction contract for work on the hotel would be announced in the next 10 days, the report said citing a TDIC official.
“The first phase of the development is on schedule and will see the Saadiyat Beach Golf Course open at the end of this year, the St Regis Hotel on Saadiyat Beach become operational in early 2011, and the openings of the Zayed National Museum, Louvre Abu Dhabi and Guggenheim Abu Dhabi in 2012 to 2013,” said Bassem Terkawi, the public relations and events director for TDIC.
Terkawi pointed out that the $27 billion price tag that Saadiyat Island was originally projected to cost was now no longer applicable because of lower construction costs and the fact that plans had altered.
“I can assure you that figure today is not accurate at all. The project has developed a lot since then. We don’t have a figure,” he said.
“The economic situation is changing, we are reviewing what makes best sense with each project and taking decisions on an individual basis. The options for developers have increased and we are awarding contracts based on competitive tendering.”
The TDIC said it planned to bring in up to 20,000 construction labourers to work on the Saadiyat Island development over the next year.
St Regis, Park Hyatt, Rotana and Shangri-La have been confirmed as operators of hotels in the Saadiyat Beach district. Operators for a further five hotels have yet to be announced, the report added.
More Construction & Real Estate Stories
- New Tekla software accelerates information flow
- Damac unveils first Trump Estates in ME
- GFH in key London property placement
- Green Valley unveils new UAE, Turkey projects
- Jotun colour collection tracks new trends
- RAK Properties to distribute $27.2m profit
- Top construction firms head to Bahrain
- Investors pull out of $65m Bahrain project
- Projects stalled in Bahrain due to 'mismanagement'
- Emaar rules out plans for new tall tower
- Barwa net profit surges 27.3pc
- RAK Properties adds new villas to Flamingo project
- Saudi launches housing scheme to ease shortage
- R&M wins Oman residential project contract
- Asian skyscraper prices tower over rest of the world
- Tamleek opens new office in Dubai
- $29m allocated for Bahrain drainage projects
- Indian group plans $300m Bahrain Bay investment
- Drake and Scull awards key supply contract
- FCC wins $702m Doha metro line contract
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts
- Emaar offers 330 apartments in MBR City
- Dubai Design District sees big demand
- HUGE DEAL: Arabtec inks $40bn Egypt housing project
- Galfar ex-CEO gets 15 years' jail over bribes