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The country added a total of 10 GW of renewable capacity in April-August, the first five months of this fiscal year, taking its total to about 153 GW
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Aldar may Review Projects in Design Stage
ABU DHABI - Abu Dhabi’s largest property developer Aldar Properties will go ahead with most projects it has already committed to, but would review projects currently in design stage, says a top official.
However, the company will enter into a new territory -the mid-range properties market, making a shift away from high-price properties, which it is constructing in Al Raha Beach area and elsewhere.
Sami Asad, chief operating officer Aldar Properties told reporters on the sidelines of Arabian World Construction Summit (AWCS) that there is some change in supply and demand and the company sees demand for mid-class housing in
Asad said that Aldar’s two main residential projects would be ready to be delivered to owners: Al Raha Garden phase III will be delivered towards the end of February, while keys to the properties on its Al Bander development on Al Raha Beach will be handed-over in December.
After witnessing a peak in the property prices, in the fourth quarter of 2008, the prices have started declining as financing became difficult to obtain, as global economy suffers from recession, resulting into panic among investors, who are dumping their properties on the market.
With the strong backing from
The company is developing mega projects including Motor World, a self-sustaining residential community for 30,000 people.
The Dh50 billion Yas island development which includes world class motor sports racetrack, signature hotels, the Ferrari theme park and 300,000 square meters of retail areas, golf courses, marinas all creating, a tourist destination. Al Raha Beach is a water-front city spread over 5.2 million square meters ,apart from other developments.
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