As a global leader, the UAE continues to attract expats, tourists, entrepreneurs, and many of the Fortune 500. Here is a roundup of attractions and residences, that will give the country staying power for decades to come.
Arada is making a big splash with its ‘city within a city’ development just inside the Sharjah-Dubai border. Since officially launching last October, the development has pushed forward with the first of ten phases and has an overall completion date of 2025. The two million square metre project is a master plan of the future that incorporates placemaking elements that tie in residents’ needs when it comes to a holistic lifestyle. From living, to working, to education, the project boasts architectural designs such as the Central Hub, designed by Zaha Hadid Architects. The development aims to rival communities such as Dubai’s Business Bay and Dubai Marina.
The UAE capital’s skyline is to see a further alteration as Abu Dhabi real estate developer IMKAN begins work on its seven-tower ‘Pixel’ project on Reem Island. Pixel is phase one of a mammoth mixed-use development – Makers District – which is due for completion at the end of 2020. Pixel has been designed to appeal to the next generation of UAE resident for whom finding a work/life balance will be central to the property hunting process. The community will offer residential apartments, co-working spaces, restaurants and retail, and will be surrounded by water features that “infuse a sense of creativity and wellbeing into everyday living”, according to the developer.
Once thought to be a risky prospect due to its isolated location, the community of Al Ghadeer on the border of Abu Dhabi and Dubai is buzzing after a decade of development – and a new AED 10 billion Aldar master plan will take things to the next level. The ambitious project consists of 14,408 units, including villas, townhouses, and maisonettes, and will be complemented by office space, retail space, hospitality, education and community amenities. But the icing on the cake is the plan to build the region’s first hyperloop line in Al Ghadeer itself by 2020, extending to Yas Island, Abu Dhabi airports and beyond.
MOHAMMED BIN RASHID
AL MAKTOUM SOLAR PARK
The UAE’s plan to be a global leader of large clean energy projects is powering ahead as the Mohammed bin Rashid Al Maktoum Solar Park expands its Phase 4 to 950-megawatt capacity. It is now also selling power at a world-record low of $0.024/kWh. Among its many achievements, Phase 4 will see the world’s tallest solar tower and the world’s largest thermal energy storage capacity. The park is central to the Dubai Clean Energy Strategy 2050, which aims to move Dubai to producing 75% of its energy requirements from clean energy sources. So far, the project has seen AED 50 billion ($18.82 billion) worth of investments.
DEIRA BRIDGES DEVELOPMENT
All eyes are on Deira in Dubai as much-anticipated plans for three new bridges leading to Deira Islands move forward. The Roads and Transport Authority (RTA) and property developer Nakheel aim to improve the entrances and exits of the islands – at a cost of AED 447 million ($122 million). The Deira Islands project has been described as a “world-class hub for tourism, leisure, retail and entertainment” and is expected to be a key contributor to the government of Dubai’s tourism vision. The new bridges are designed to ease the notoriously bad traffic issues in the area.
EMAAR MALLS IN DUBAI SQUARE
As plans for Dubai Square get underway, developers Dubai Holding and Emaar Properties have tantalised the market with details of a ‘tech-driven’ retail project that will take shopping into a new era. The mall will promote ‘omnichannel retailing’ and offer facilities such as personalised AI recommendations, 3D printed clothing, and quick checkout solutions. Located at the Dubai Creek Harbour development, Dubai Square will offer over 8 million square feet of gross floor retail space and have nearly doubled the gross leasable area of Dubai Mall, which just celebrated its 10th anniversary.
This article was originally published in Property Finder Trends, Vol 5.