Challenges ahead for Abu Dhabi as growth accelerates

PDF

| Print |

E-mail

Abu Dhabi has $2.4 trillion worth of committed and announced projects that will allow the population of the UAE capital to double over the next decade. But this expansion creates huge huge challenges for the emirate to tackle. An instant electronic poll conducted among the audience at the Meed Abu Dhabi Conference 2007 pointed to human resources as the main issue for Abu Dhabi right now with inflation registering just an 11 per cent response, a little surprising given the headlines in local newspapers about inflation. Clearly a fantastic mobilisation of people, equipment and materials is required to build the Abu Dhabi of the future. It is all very well coming up with the mega projects on paper, and even producing an impressive urban plan, available in full on abudhabi.com. The most immediate problem is finding the talent necessary to build the new Abu Dhabi, both from the point of view of actually constructing the city and creating a new economy. The plan Chairman of the Abu Dhabi Executive Affairs Authority, Khaldoon al-Mubarak gave a lucid presentation of the official position which now revolves around the clear focus of the new urban plan, and a wholesale reform of the judicial system and legislative transparency. At the same time, Abu Dhabi Chamber of Commerce chairman Engineer Salah Salem Bin Omeir al-Shamsi called for the 'export of knowledge from Abu Dhabi' as the city grows into a centre for research and innovation. This followed earlier remarks from the CEO of Zonescorp, Jaber Ali Khaili, who is in charge of the development of huge free zones for industry, about the development of a more diversified economy. In the meantime, the focus is on developing the physical buildings and infrastructure of Abu Dhabi with a series of mega projects from the newly formed private sector developers like Aldar Properties and Sorouh Real Estate. The first phases of the first projects are now visibly rising from the ground in Abu Dhabi. There has been some local skepticism over the commitment to these projects because of complete changes of planning in the recent past, for example on Sadiyaat Island which was to be a financial centre a decade ago and is now designated a museum and tourism island. Action and planning Several speakers pointed to the conflict between a need to get on with the job and a desire to achieve the best possible urban landscape through extensive planning. And striking the correct balance is clearly a major challenge in the years ahead. However, the credibility of the Abu Dhabi urban plan is growing by the day with all elements achieving a critical mass that are gaining a momentum all of their own. The afternoon session on day one of the conference heard discussions about the huge port, airport and heavy industry developments now in hand. Within the next four years construction activity in Abu Dhabi is likely to outpace Dubai and at the peak an army of 700,000 workers will be needed. Whatever the long-term economic viability of this incredible investment it will keep the UAE economy growing for years ahead.

 

< Prev		Next >