# ALDAR: Construction's frantic pace 'unhealthy'



## Krazy (Apr 27, 2004)

*Construction industry's frantic pace 'unhealthy'*

Abu Dhabi: The region's construction sector is growing too rapidly and the unsustainable growth could create problems, a leading real estate developer said yesterday.

"There is a lot of capital in the region's markets and there's a huge appetite for real estate and much of what's done is not sustainable," said John Shaw, Chief Investment Officer of Aldar Properties.

"There's a stampede for development and it is vital to have infrastructure ahead of development, otherwise there could be problems and we won't see sustained growth," he told reporters at a news conference.

Abu Dhabi listed Aldar Properties yesterday announced it would be the sole sponsor of the Third Engineering Excellence Forum organised by the Higher Colleges of Technology in Abu Dhabi.

The forum 'Built Environment for Sustainable Development' will take place on November 7.

Shaw said Abu Dhabi in particular has a lot of resources that have to be showcased but they also need to be protected and conserved. "We will resist doing things fast and become glitzy," he said.

"With careful land use, planning, investment infrastructure, high quality design and construction and thoughtful conservation practices, a truly remarkable and sustainable city will be taken to its next level."

Dr Tayeb Kamali, HCT Vice Chancellor, said HCT will play a partnership role with Aldar and others in ensuring sustainable development.

The one day forum will bring together specialists, academics and practitioners to exchange ideas and provide solutions to address concerns relating to urban planning and landscaping linked to sustainable development.


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## Krazy (Apr 27, 2004)

^^ Looks like Abu Dhabi is learning from Dubai's mistakes


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## griftre (May 4, 2005)

Maybe you are right Krazy, but let's see after all of these major developments are finished in Dubai. i just hoped that this infrastructure upgrading was done a year ago... Now it's all messed up wherever you go in Dubai... Traffic snarls.... well... what can I say more.....


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## AltinD (Jul 15, 2004)

Abu Dhabi properties are WAY to expensive. A 2 bedroom in Ocean Terrace starting from 1.3 Milion???? WTF :bash:


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## ragga (Jan 23, 2005)

What are the prices per sq ft in abu dhabi average?

I spoke with the executive sales manager of Dubai Properties, she pretty much said Dubai properties hanging gardens will start at 1500 dhs / sq ft ... *sigh* gone are the days of 400-600 dhs per sq. ft. (even though we didnt invest that early).


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## Krazy (Apr 27, 2004)

yes AD properties start around 1500 dhs/sq ft and go up from there...


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## DarkBlueBoss (Mar 3, 2005)

AltinD said:


> Abu Dhabi properties are WAY to expensive. A 2 bedroom in Ocean Terrace starting from 1.3 Milion???? WTF :bash:



but thats the average price in dubai.. seems reasonable in comparison...


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## 1N1 (Jun 25, 2006)

I wouldn't agree with that.

First of all the prices are not in the range of 1500 per sqft. They are hovering around 1000-1100 for ready to move in apts like Greens and some buildings in Dubai Marina. Prices for uc apts is in anywhere between 700 to 900, except in areas near the first interchange on Shk Z, which is Burj downtown and Business bay, prices hovering at 900+ for apts.

For villas, prices are between 750 to 950 per sqft for ready to move in property, and for under construction, anywhere between 700 to 850, both of which are on a constant rise currently.

I feel, that the problem really is not that construction is happening at a very alarming pace and volume all of a sudden. If it was to be bad for the market then why would the prices go on rising. Maybe its just that all this massive supply is visible and apparent, and the buyer market (demand) is not visible to us. All this development is not even affecting the rental market, which is rising every year, and going out of peoples affordability.


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## dubaiflo (Jan 3, 2005)

valid points.

but he was talking about AD prices.


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## Trances (May 19, 2003)

you think Dubai is bad now with traffic
To cope with the ammount of construction, future demands of people, transport, water, commucication, and everyting this will require there is so much to be done ! As i have said so many times will get far worse in the medium term shuold peak in about 3 1/2 years before Dubai can cope and get better.


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