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Master developers lay the foundations for Reem Island in Abu Dhabi
Thursday, May 15, 2008

Bunya, the resident regulatory authority and regional infrastructure developer for Reem Island, announced that work on several key projects on the landmark development is intensifying and are on schedule.

Bunya’s C.E.O. Tariq Hatim Sultan, stated that 100 percent of the infrastructure design is finalised and 50 percent of the advanced enabling earth works for roads embankment have now been completed. When finished, the main arterial road networks will criss-cross some 25 kilometres over the 840 hectare natural island, which will be home to approximately 200,000 residents.

“The key infrastructural components for Reem Island are moving closer to reality,” he said. “We are on track to provide effective and efficient regional roads and utilities for phase 1 development before end of 2009.”

Bunya is owned by the three master developers of Reem Island, Tamouh Investments LLC, Sorouh Real Estate PJSC and Reem Investments, and is the municipal and resident regulatory authority and developer of regional infrastructure, utilities and sewage treatment on Reem Island.

Reem Island is the landmark waterfront residential, commercial and business project currently being built on a natural Island, located just off the north-eastern coast of Abu Dhabi city.  It is expected to become the premier residential and commercial address in the city and to introduce a new way of living in Abu Dhabi.

The Island will have all the necessary infrastructure and services to become a self-contained city.  It is among Abu Dhabi’s largest developments and will greatly expand the urban area of the capital and create more beachfront, residential and commercial space.

“The permanent road system is going to be unique in many ways,” Sultan adds.  “Some 6 million cubic metres of dredged infill is being used to create a series of raised roads, more than 5 metres above sea level.  This will enable utilities such as power, water, telecommunications, gas, district cooling and sewerage lines to be quickly and easily installed and ready for all three master developers and their third party developers.

Sultan adds that the regional road network is designed with both aesthetics and function in mind.

“A full traffic assessment using the latest technology in traffic simulation software, along with a comprehensive environmental study have been completed,” he stated.  “This will result in modern traffic management systems to ensure smooth traffic flow.  It will also be combined with an eco-friendly layout to accommodate pedestrians and cyclists along spectacular tree-lined boulevards.”

In addition to the road networks, Bunya has also completed delivery of the temporary power and water supply, which is critical to construction activities.

There are many individual projects currently underway by the three master developers and an ever-growing list of sub-developers,” he stated. “The next critical stage is the construction of the 400kV grid station and accompanying substations being undertaken by ADWEA/TRANSCO on the Island, for which an AED 520 million contract was awarded to ABB earlier last year. 

"Design work has now been completed and physical work has begun with a scheduled completion for the first quarter of 2009.

“The magnitude of these projects cannot be overstated,” concludes Sultan. “The projects are being approached in several phases, the first which began in early 2007 and completion before the end of 2009.”

Michael Verikios - Thursday, May 15, 2008
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Poll
How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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