UK consultant will prepare plans that reflect current market dynamics
The UK’s Hyder has been appointed to revise the masterplan for the Masdar City project in Abu Dhabi.
The project was launched in 2006 with a masterplan that was prepared by the UK’s Foster & Partners. Since then Abu Dhabi’s property market has slumped and a new masterplan that reflects the current market dynamics is needed. The original 6.5 square kilometre masterplan was expected to cost $22bn to build and would have accommodated 1,500 businesses and 50,000 residents.
A number of contractors are already working on projects within the city. Canada’s Brookfield Multiplex was awarded the contract to build a headquarters building for Abu Dhabi Future Energy Company (Masdar) in October last year. In January 2011, the local/Lebanese Arabian Construction Company (ACC) was awarded a contract to carry out expansion works on the Masdar Institute of Science & Technology (Mist).