Real Estate & Construction
From The Report: Abu Dhabi 2020
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Investment in energy and infrastructure has resulted in the development of various mega-project opportunities for construction and engineering companies in Abu Dhabi. These include strategic projects such as the Midfield Terminal Building at Abu Dhabi International Airport and the Barakah Nuclear Power Plant, both of which are due to become operational in 2020. Real estate, meanwhile, has remained a buyers’ or renters’ market as the delivery of new retail, office and residential properties coincide with a softening of demand. This could change, however, as the government amends laws to allow foreigners to own freehold property in designated investment zones. Looking ahead, while the construction pipeline remains robust in the medium and long term, the broader economic slowdown related to the Covid-19 pandemic in early 2020 may impact the pace of projects in the near term. This chapter contains interviews with Talal Al Dhiyebi, CEO, Aldar Properties; and Saleh Al Mazrouie, Acting CEO, Abu Dhabi General Services Company (Musanada).