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IHG plans Middle East expansion
InterContinental Hotels Group (IHG), the biggest hotel chain in the world, is aiming to increase the number of its hotels in the region by 50 per cent within the next four years, although some of its projects have suffered delays. In Abu Dhabi, an InterContinental hotel is planned for Al Raha Beach, but it is not expected to open until 2015.
Moevenpick finds going slow getting hotels built
Moevenpick signed agreements to manage four five-star properties in Abu Dhabi, but all the projects are behind schedule. One hotel, which was planned to be located next to Ferrari World onYas Island, should have opened last year but construction has yet to begin. “It should be open now,” said Mr Mattmueller. “We will see what’s going to happen.” The other hotels are planned for Reem Island, Al Raha Beach and Al Ain, and are some of the 13 agreements signed in the region for properties worth about US$1.5 billion (Dh5.5bn) in total.
Tenants relocate as flat rents fall
Abu Dhabi tenants are relocating in search of quality and value as apartment leases fall 7 per cent and villas 5 per cent, says Asteco’s fourth quarter 2010 report. A two-bedroom apartment in Al Raha Beach now rents for Dh120,000 to Dh190,000 annually.
Norman Foster: Building an oasis
The museum is due for completion in 2014. Along with Masdar, Abu Dhabi’s Central Market and Al Raha Beach complex, and the Index at One Central Park in Dubai, it forms the centrepiece of the glittering array of projects that constitute his vision for the UAE.
Aldar sales rise on Al Raha beach buys
Aldar Properties, Abu Dhabi’s largest developer, has recorded the first rise in property sales after 18 months of subdued activity in the capital’s property market. Rami Nasser, the director of sales and commercial leasing at Aldar, said the company had “sold or are in final discussions” on about 20 finished apartments in the Al Raha Beach project.
Aldar works to secure tenants for its HQ
Most of Mubadala’s 622 employees will remain at the Al Mamoura building, officials said. The building is one of the first to be completed in the Al Raha Beach area, which is Aldar’s large-scale development near the Abu Dhabi International Airport.
Nick’s garden: Towards a more natural landscape
Happily, the last few years have also seen a quiet revolution take place in Abu Dhabi’s corridors of power with the introduction of Plan Abu Dhabi 2030, Estidama and new guidelines for the design of Abu Dhabi’s streets and public spaces and it shouldn’t be long before we see the city’s characteristic greenness take a decidedly environmental turn.
Abu Dhabi raises its profile with new skyline
Abu Dhabi’s skyline has begun sprouting the type of towers that help put a city on the world map. Not only is this new generation of buildings taller and slicker than the glass edifices of yesteryear, they include features that would make them stand out in any metropolis.
