The Sheikh Khalifa Bin Zayed Stadium in Abu Dhabi is very much on track, reiterated some of its pre-qualified bidders, who added that the actual football stadium reportedly put on hold is the project on Sir Baniyas Island.
"I have been receiving numerous calls on this rumour but the project is going ahead as scheduled," said one bidder. "The project in question is the football stadium on the Sir Baniyas Island, which is under Musanada as the client. We are still awaiting the shortlist on the Zayed Stadium."
"No, it is a rumour and the project is going ahead," said another bidder. A third bidder added that he had also verified the rumour as false. "I have double checked with other bidders. And as far as we know, the project is still ongoing," he said.
Meanwhile, the five finalists on the Sheikh Khalifa Bin Zayed Stadium in Khalifa City, Abu Dhabi, have been asked to also price in district cooling, according to industry sources. The closing date for the tender is June 21.
The billion-dollar football stadium project is being developed by the Abu Dhabi Government-owned investment firm Mubadala Development Company.
Currently, five groups have pre-qualified for the tender. The list comprises France's Bouygues with Arabian Construction Company, South Korea's Samsung Corporation and Germany's Ed Zueblin, Japan's Taisei Corporation and Beijing-based China State Construction Engineering Corporation, France's Vinci Grands Projets with Athens-based Consolidated Contractors Company and China's Sinohydro Corporation. Arabtec has also entered into the bidding on the project with one of the five pre-qualified bidders, according to its CEO in an interview with this paper around end-May. Riad Kamal was not willing to divulge the details of the partnership. "We were not on the original list but since then, have partnered with one of them. The agreement took place in the last couple of weeks but we do not want to talk about the partner. It is in tender at the moment and we are pricing it," he said.
UAE construction sector to grow at CAGR of 20%
The 'UAE Construction Industry Outlook to 2012' report by RNCOS, an industry intelligence provider states that the UAE construction industry is expected to grow at a compound annual growth rate (CAGR) of around 20 per cent during 2010-2013.
"The UAE is one of the largest and fastest growing economies in the Middle East," said the report.
"The country has witnessed massive investment in the construction industry from both public and private enterprises in recent years. It outpaced Saudi Arabia and became the largest construction market in the GCC region in 2008. The UAE accounted for nearly 20.3 per cent of total construction industry in the region followed by Saudi Arabia, Algeria and Egypt," said an excerpt from the report.
Despite the sluggish growth in 2009 amid the global financial distress, the construction industry managed to record strong growth during 2007-2009 and contributed about eight per cent to the country's GDP in 2009.
"According to our new research report, the UAE construction industry is expected to grow at a CAGR of around 20 per cent during 2010-2013," it said.
"Rapid economic development is the major factor driving construction activities and infrastructure development in the UAE. The country has drawn investments from all around the world. Most of the investments are mainly focused on the development of infrastructure for tourism, hospitality, retail and healthcare," added the report.
"Moreover, the government efforts to diversify its economy from oil-based to other industries will boost infrastructure investments in future. Despite the global economic slowdown, the UAE will continue to develop several projects in tourism, housing, industrial and commercial facilities, education and healthcare amenities, transportation, communications, utilities, ports and airports."
By Sona Nambiar
© Emirates Business 24/7 2010
