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Inside Saudi Arabia’s water market

Water projects across Saudi Arabia – desalination, wastewater, transmission and storage – are booming. The flow of investment is only likely to increase as barriers to entry fall and the floodgates open to newcomers from across the globe

By SWPC

Abu Dhabi Municipality has announced a $231m tourism and entertainment project named Al-Qana, which will span across 2.4 kilometres of the capital’s waterside land.

According to Emirates News Agency (WAM), the scheme will span 150,000 square metres in the Maqta area of Abu Dhabi and is scheduled to be completed in the second quarter of 2018.

It will include a 5,000-cubic-metre aquarium, making it the largest in the emirate, a 98-berth marina suitable for mini yachts, cafes and restaurants, and furnished apartments over three or four storeys, which will be available for rent.

The developer, Al-Barakah International Investments, says it has leased 2.5km of land from Abu Dhabi Municipality to construct the project on a build-operate-transfer basis, otherwise known as a ’musathaha’ agreement.

“The tourist market is expanding in Abu Dhabi with what [flag carrier] Etihad Airways is doing,” says Moataz Mashal, managing director of Al-Barakah International Investments. “This is one of the main projects that will put Abu Dhabi on the tourism map.”