07 julio 2007

The Cost of Development in UAE

Marine environment at top of the agenda as Nakheel signs landmark agreement with UNU

“…Nakheel, the UAE’s leading real estate developer, has taken another significant step forward in ensuring the long-term sustainability of its offshore developments following the signing of a strategic agreement with the United Nations University (UNU)… The agreement on Marine Ecosystem Management engages a team of leading coastal management experts and includes a review of Nakheel’s existing monitoring activities. The partnership will also see the development of a comprehensive environmental monitoring programme for the waters of the Arabian Gulf that will help maintain sustainable marine ecosystems and mitigate adverse impacts…”

INSIGHT: Development in Dubai
“…Building dreams in Dubai. A tiny synthetic city-state has transformed itself and is now literally changing the landscape around it, making its own new world out of oil money and ambition.. There's just no place like it. A city of fewer than 2 million people, served by 100 airlines, the world's largest port and enough shopping to last a lifetime. It's governed by a dynasty and without a hint of democracy, but has freedoms most Arab states would envy. It is also a symbol of success to the Arab world, staffed and populated largely by foreigners. And it's very busy building…”

Dubai International Buys 3.1% of Airbus Parent EADS
“…The US$2bn Global Strategic Equities Fund (GSEF) founded and sponsored by Dubai International Capital LLC (DIC), the international investment arm of Dubai Holding, announced today that it has made an investment in European Aeronautic Defence and Space Company (EADS)… GSEF acquired 3.12% of the outstanding share capital of EADS, allowing it to become one of the largest institutional shareholders in the company. GSEF's investment in EADS is supported by key limited partners who are co-investing alongside the fund in this strategic transaction…”

Abu Dhabi's green move gathers pace
“…Abu Dhabi The UAE's response to global warming begins at home… Last month the Abu Dhabi Future Energy Company (Masdar) launched a $5 billion initiative to establish the world's first totally green city in Abu Dhabi… The development extending over six square kil-ometres plans to achieve zero carbon dioxide emissions and zero waste and includes plans to invest $350 million in solar energy generation… The new city is scheduled for completion by late 2009, and comes as part of a series of projects adopted by the emirate recently to curb the greenhouse gas effect on the climate…”

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