The Global Financial Crisis or GFC as some like to call it has struck projects across the world and placed lots of companies and people out of work. However, there is a bright side for some, including governments and public place developers who have seen prices fall and timelines shortened as companies become available due to a lack of private development work.
In the UAE were upto 75% of projects are now on hold has allowed Museums such as the Abu Dhabi Louvre and Guggenheim to get projects started for 30% less than one year ago. The Louvre broke ground in June and The Guggenheim is currently undergoing pre-qualifying.
VIA – The National
After four years of construction, Dubai will finally have its own Metro. The Metro Red Line will be opened tonight at Galleria of the Mall station by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai. The general public will be able to start using the Metro tomorrow morning from 5:30am.
The Metro is hoped to cut traffic congestion on Dubai’s roads and increase public transport usage from 10 to 30 per cent.
SOURCE: The National Newspaper – Dubai Metro launches tonight
Just when you thought development in Dubai was frozen along comes the news that construction contracts were just awarded to Arabian Construction Company for Pentominium, the tallest residential in the world at 618 metres (2027 feet) and 124 floors. At a cost of AED 1.46 billion ($USD 400 million). The total floor area will be 170,000 square meters and expected to take just 48 months to build. Currently Q1 in Australia is the tallest residential tower in the world. Aedas are the project designers.
Sick of driving around and around on the carpark ramp to get to that elusive spot on the second last or last level of your cities carpark. Well, the future is here. A 765 car stall robotic carpark has just opened in Dubai at an office and hotel development. Able to handle 250 cars an hour. Drive to the entry leave your car on the lift and away it goes. Just remember not to leave your phone or loved one in the car.
IMAGE SOURCE: Arabian Business