Aldar figure warns that major Abu Dhabi development may be completed later than expected
Abu Dhabi real estate developer Aldar has said that construction of its $14.7bn Al-Raha Beach development is likely to be delayed.
Speaking at the Middle East District Cooling 2010 conference in Abu Dhabi, Aldar Properties head of infrastructure Faisal al-Kamali said that the development was scheduled for completion by 2019, but “I don’t think it will be [finished] before then – probably afterwards.”
The project was launched in 2005 and was hailed as a major mixed use development along one of Abu Dhabi’s natural beach fronts. The project will house 120,000 people and is expected to have a daytime population of 160,000.
Located on the beach side of the main highway leading into Abu Dhabi from Dubai, the real estate development will consist of eleven precincts.
Middle East District Cooling 2010 conference
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