TASWEEK Real Estate Marketing & Development evaluates AED 1.5 billion Abu Dhabi & Dubai investments

TASWEEK Real Estate Marketing & Development evaluates AED 1.5 billion Abu Dhabi & Dubai investments

Healthcare & Retail developments could be added to portfolio soon

April 7, 2010

TASWEEK Real Estate Development and Marketing, an Abu Dhabi-based advisor and solutions provider serving the local and the Middle East real estate markets, has evaluated and completed due diligence on properties in Abu Dhabi and Dubai worth AED 1.5 billion in total. The projects have the potential to bring in a minimum net income profit of AED 300 million for the company over a period of three years. All projects within the portfolio must be classified and qualified as trophy assets that have components of Location, Facilities, Amenities and Quality which makes them fundamentally strong assets.

The portfolio contains Residential assets (35 per cent), Commercial (30 per cent) and Hospitality (35 per cent), with value per property ranging from AED 40 million to AED 450 million It involves a total of AED 500 million in financing and AED 1 Billion in equity . Dubai projects form the majority of the investment opportunities at 60 per cent, with Abu Dhabi developments accounting for 40 per cent.

The TASWEEK real-estate development and marketing brand of real estate has been gaining greater market acceptability due to the company’s focus on robust business acumen and market knowledge. The company has been undertaking due diligence and intense research for the portfolio buildup worth USD 250 million which was announced last October 2009 and will be executed over the coming 12 months. TASWEEK is basing its selections on location, facilities, amenities, quality, and income-bearing assets and is concentrating on the UAE market which continues to offer one of the highest yields in the region.

“We are being extra careful with our project choices given the numerous investment opportunities currently available in the markets. Although we have significantly enhanced our capability to attract offers and proposals, we want to maintain our momentum without compromising the quality of our portfolio. We are also aiming for a diverse lineup of properties that can cater to unique residential and commercial needs,” said Masood Al Awar, CEO, TASWEEK Real Estate Development and Marketing.

Healthcare and education developments are also being eyed for the TASWEEK portfolio, which is also open to other greenfield projects within the growing sector of real estate.
TASWEEK is currently exploring strategic location properties in Abu Dhabi and Dubai as part of the multi-million dollar property portfolio that will generate a return on investment of at least 10 per cent. The private joint stock company’s expertise covers Strategic Assets Acquisitions; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy.

About Tasweek:

Tasweek, a provider of comprehensive real estate development solutions for the UAE and the broader Middle East, leverages over 20 years of extensive experience in valuations, design, and real estate marketing across the UAE, GCC and MENA regions. The private joint stock company draws on its involvement in managing the properties of over 25,000 customers to ensure enhanced client satisfaction in the delivery of a diverse range of services, throughout all stages of the real estate development's lifecycle.

Through its two core competencies of knowledge and networking, Tasweek is highly capable of introducing clients to the right people, creating vital links between industry movers and players, and developing ideas to successfully bring properties to market.

SENER establishes an office in Abu Dhabi

SENER establishes an office in Abu Dhabi

SENER Ingeniería y Sistemas, S.A. has opened a new office in Abu Dhabi, in the United Arab Emirates. This new office is located in the Gulf Business Centre district of downtown Abu Dhabi and will be SENER’s local headquarters to develop projects in the power and process sector, the civil engineering and architecture sector, as well as the aerospace sector.

SENER began to take an interest in the business opportunities available in the emirate of Abu Dhabi in 2007, when the company made its first contacts there. This led to the creation of Torresol Energy in March 2008. Torresol Energy is a joint venture between SENER and MASDAR ADFEC (Abu Dhabi Future Energy Company) with the mission to develop renewable energies and that was launched by the Abu Dhabi property investment company, MUBADALA Development Company. Since then, SENER’s activities in Abu Dhabi have grown due to the engineering opportunities available in the United Arab Emirates for the power sector and for civil engineering, architecture and aerospace projects, and the company has now opened an operational division in the city. SENER’s new local headquarters will support the company’s different Strategic Business Units as well as the rest of the divisions for all business opportunities that arise in the United Arab Emirates and its area of influence.

SENER is currently undertaking several solar projects in collaboration with MASDAR as a key technological partner at Torresol Energy’s plants. It is also taking a very active role in different power, civil engineering and architecture and aerospace engineering projects in the area.

About SENER
SENER is an engineering, consulting and systems integration company which is an international reference point in the areas of Aerospace and Civil Engineering and Architecture, Marine Engineering and Power and Process. It has a workforce of more than 2,400 employees and a turnover of more than 385 million Euros. At present it has offices in Madrid, Barcelona, Bilbao, Valencia, Seville, Abu Dhabi, Algiers, Buenos Aires, Lisbon, Mexico City, Okayama (Japan), San Francisco and Warsaw. SENER Ingeniería y Sistemas is part of the SENER Engineering Group, which employs over 5,700 people and has a turnover of 829 million Euros.
www.sener.es

Abu Dhabi:Capital Gate reaches 100m height

Capital Gate reaches 100m height

Floors 17 and 18 to house gigantic suspended Atrium

Abu Dhabi National Exhibitions Company (ADNEC) has announced that it has achieved one of the most significant milestones in the construction of the iconic Capital Gate, adjacent to the Abu Dhabi National Exhibition Centre. A gigantic internal Atrium, including swimming pool and ‘tea lounge’ has been suspended on the 17th and 18th floors, the halfway point of the 35 storey, 160 metre high tower. The tower now stands approximately 100m high with the central core at level 22 and the external diagrid at level 18.

When complete Capital Gate will lean an astonishing 18 degrees westward, 14 degrees more than the famous Leaning Tower of Pisa. By installing a huge number of steel struts, engineers have realised ADNEC’s and project architect’s (RMJM) vision of the Atrium - creating a cantilevered “tea lounge” and swimming pool suspended 80 metres above the ground at level 18.

Because of its unique posture, the 35 storey Capital Gate is being constructed on top of a 2m deep concrete raft with an incredibly dense mesh of reinforced steel. The extraordinary steel exoskeleton known as the “diagrid” sits above an extensive distribution of 490 piles that have been drilled 30 metres underground to accommodate the gravitational, wind and seismic pressures. The design of the central core, which slants in opposite direction to the lean of the building, straightening as it grows, has never been attempted before.

Commenting on Capital Gate’s progress, Simon Horgan, ADNEC Group CEO, said: “When complete Capital Gate will be a modern day icon for Abu Dhabi, recognisable throughout the world. Capital Gate is not about being the biggest or the tallest, it is about advanced technical ingenuity and aesthetic splendour. This is one of the most challenging buildings under construction in the world at the moment but due to the partnership between ADNEC, RMJM and all contractors on the project, ground breaking solutions are being designed on a daily basis.”

Tony Archibold, RMJM Project Director, added: “Passing the half-way point in development is a great success and we are now entering a critical period in Capital Gate’s development. While we are facing some of our toughest architectural challenges, it is also the beginning of the most exciting stage; where this unique structure begins to take shape.”

Capital Gate will house Abu Dhabi’s first Hyatt hotel – Hyatt at Capital Centre, a presidential style luxury 5 star hotel which will provide 200 hotel rooms for Abu Dhabi and will serve ADNEC’s visitors and exhibitors as well as international business and leisure travellers.

Capital Gate

Capital Gate, when completed, will lean an incredible 18 degrees (14 degrees more than the famous leaning tower of Pisa). It is being developed by Abu Dhabi National Exhibitions Company (ADNEC) and has been designed by global architects RMJM. Capital Gate forms the centre piece of the Capital Centre development, an AED8 billion (£1.5 billion) business and residential micro city being constructed around the thriving Abu Dhabi National Exhibition Centre.


About Abu Dhabi National Exhibitions Company (ADNEC)

Abu Dhabi National Exhibitions Company (ADNEC) is a strategic international venue development and management company. ADNEC’s venue portfolio includes one of the most modern exhibition centre’s in the world - the Abu Dhabi National Exhibition Centre, and the UK capital’s largest exhibition and conference venue, ExCeL London.

ADNEC is creating unique business districts to serve Abu Dhabi’s rapid expansion and emergence on the global stage.

Development projects surrounding the Abu Dhabi National Exhibition Centre include Capital Centre (a mixed-use development of 23 residential, commercial and mixed-use towers adjacent to the exhibition centre), Capital Gate (an iconic 35 storey gravity defying feature tower, featuring the 5-star hotel - ‘Hyatt at Capital Centre’) and a 2.4km Marina zone.

In addition, ADNEC is expanding within the region, with The Al Ain Convention Centre, a residential and business micro city around a state-of-the-art convention centre.

ABU DHABI TO SPREAD ITS WINGS AT ATM 2009, FALCON DISPLAY TO GREET PAVILION VISITORS

ABU DHABI TO SPREAD ITS WINGS AT ATM 2009

FALCON DISPLAY TO GREET PAVILION VISITORS


ABU DHABI, 16 April, 2009:

Visitors to the Abu Dhabi pavilion at next month’s Arabian Travel Market 2009 – the Middle East’s premier travel and tourism event which takes place in Dubai – will be able to come face-to-face with the emirate’s heritage in the shape of two star performers – Jeer Shaheen and Jeer Hurr.

The two champion falcons – Shaheen a smaller, extremely swift bird and Hurr a long-distance performer - will make guests appearances on the Abu Dhabi pavilion in the capable charge of their trainer 33-year-old Othman Essa, a master falconer who has been pursuing the sport for 15 years.

Othman will give visitors an overview of the noble sport of falconry which is still widely practised in Abu Dhabi. The emirate is also home to the Abu Dhabi Falcon Hospital – the world’s most advanced facility of its kind which conducts guided tours for visitors.

The Abu Dhabi pavilion at Arabian Travel Market, which runs from May 5-8 at the Dubai International Exhibition and Convention Centre, is the largest in the show. Organised by the Abu Dhabi Tourism Authority, the pavilion will house 40 sharing companies promoting a wide range of tourism products and services.

Caption: Othman and Shaheen ready for starring ATM role at the Abu Dhabi pavilion


About ADTA: Abu Dhabi Tourism Authority (ADTA) was established in September 2004.It has wide ranging responsibilities for building and developing the emirate's tourism industry. These include; destination marketing; infrastructure and product development and regulation and classification. A key role is to create synergy in the international promotion of Abu Dhabi through close co-ordination with the emirate's hotels, destination management companies, airlines and other public and private sector travel-related organisations.

Cityscape Abu Dhabi returns to Abu Dhabi, over 30% bigger than last year

Cityscape Abu Dhabi returns to Abu Dhabi, over 30% bigger than last year
3rd edition of the show confirms the success of ADNEC

The Abu Dhabi National Exhibition Centre (ADNEC) will see Cityscape Abu Dhabi return for its largest ever edition from 19th – 22nd April. This year’s event will be 32% bigger than the 2008 edition and will cover a gross area of more than 38,000sqm.

Since its launch in 2007, Cityscape Abu Dhabi has shown significant growth year on year. This growth will continue this year due to the expansion of ADNEC’s exhibition facilities to create the Gulf’s largest exhibition centre. Six additional exhibition halls have been added to the venue since the 2008 edition of the Cityscape Abu Dhabi enabling the event to span 9 exhibition halls, plus the Atrium.

Cityscape Abu Dhabi is one of many exhibitions at ADNEC to return to Abu Dhabi annually. This signifies the success that the capital is having in retaining its events and confirms ADNEC’s growing status as a powerful economic engine for the emirate. In addition to Cityscape Abu Dhabi, ADNEC will stage a huge number of events in 2009, over 50% of which are returning events.

Simon Horgan, ADNEC CEO said: “One of the main reasons why ADNEC was created was to attract new events to the capital and to then support their growth. Since the venue opened in 2007 we have been committed to helping organisers make their events more successful each season. Cityscape Abu Dhabi is a perfect example of an event which has been able to grow due to the support which ADNEC gives.”

Rohan Marwaha, Managing Director, Cityscape, IIR Exhibitions added: “The support of ADNEC has been instrumental in the success of Cityscape Abu Dhabi. The 2009 edition of the event will be the largest Cityscape Abu Dhabi that we’ve held, and we’re expecting to see a significant increase in visitors and investors coming from all over the world to Abu Dhabi.”

About Abu Dhabi National Exhibitions Company (ADNEC)

Abu Dhabi National Exhibitions Company (ADNEC) is a strategic international venue development and management company. ADNEC’s venue portfolio includes one of the most modern exhibition centre’s in the world - the Abu Dhabi National Exhibition Centre, and the UK capital’s largest exhibition and conference venue, ExCeL London.

ADNEC is creating unique business districts to serve Abu Dhabi’s rapid expansion and emergence on the global stage.

Development projects surrounding the Abu Dhabi National Exhibition Centre include Capital Centre (a mixed-use development of 23 residential, commercial and mixed-use towers adjacent to the exhibition centre), Capital Gate (an iconic 35 storey gravity defying feature tower, featuring the 5-star hotel - ‘Hyatt at Capital Centre’) and a 2.4km Marina zone.

In addition, ADNEC is expanding within the region, with The Al Ain Convention Centre, a residential and business micro city around a state-of-the-art convention centre.

For more information visit www.adnec.ae; www.alaincc.ae; www.capitalcentre.ae; www.capitalgate.ae; www.excel-london.co.uk

Top ten Abu Dhabi projects worth $208 billion

Top ten Abu Dhabi projects worth $208 billion

Cityscape Abu Dhabi spotlights new cities, island resorts and communities still underway in UAE capital despite global slowdown

Global slowdown notwithstanding, the capital of the United Arab Emirates continues to be transformed with masterplan budgets for the city’s top ten civil projects worth $208 billion remaining in place.

Details of the top ten projects from new cities and island resorts to new communities and a light rail system are revealed today (8 March 2009) by the organisers of Cityscape Abu Dhabi, which takes place from 19-22 April at the Abu Dhabi National Exhibition Centre

“Abu Dhabi is not immune from the global financial turmoil but has wisely avoided over exposure to the stressed international and regional credit markets,” said Mark Goodchild, Exhibition Director for organisers IIR Middle East.

“The big difference for Abu Dhabi compared with other cities is that while the emirate will collect less in revenues from oil than the records set in 2008, the capital has been financially prudent and has a sovereign wealth fund estimated at $328 billion at the end of 2008.”

More than $208 billion has been earmarked in the long-term masterplan budgets across the top ten civil projects in the UAE capital, many of which will be showcased at Cityscape Abu Dhabi, the international real estate and investment development event.

“While there has been some doubt expressed about the timescale and magnitude of several projects across the UAE, the sheer scale of those continuing to take place in Abu Dhabi is truly remarkable by any international standard,” Goodchild added.

The top ten projects identified by research company Proleads are:

1. The biggest single project is the new capital city for Abu Dhabi – Khalifa City. It has a masterplan budget of $40 billion and is planned to comprise all federal ministries, local government offices and embassies. The city is expected to be completed by 2030.

2. Work has started on the Yas Island Development, a massive $39 billion masterplan budgeted mixed use tourist development including residential, hotels, beaches, marinas, retail, golf and equestrian facilities. The island will have a total developed area about one-third the size of Abu Dhabi island. Total packages budgeted so far amount to $3.5 billion

3. Burooj Properties is behind a masterplan $24 billion mixed use real estate community project in Abu Dhabi to include 11 residential towers, offices, four hotels and a shopping mall.

4. Saadiyat Island is another massive offshore development underway with a masterplan budget of more than $28 billion. It includes 29 hotels, three marinas, 8,000 residential villas and more than 38,000 apartments. The project also includes museums, concert halls, maritime history centre, three harbours, a park, golf course and sailing club.

5. A $22 billion budget has been allocated for the ambitious Masdar City project, billed as the first zero-carbon, zero-waste city. It will depend on solar energy. Masdar City will also be car-free. Total packages budgeted so far amount to $2.4 billion.

6. Underway is the $18.5 billion Al-Raha Beach Complex, another mixed-use hospitality development involving reclaimed land and will include 50 high-rise and a number of low-rise buildings for approximately 120,000 people.

7. Abu Dhabi's International Capital Trading is planning a $10 billion mixed use city, tentatively called Ghantoot Green City. The project will comprise commercial centres, hotels, offices, residential areas, warehousing and light industrial areas. Total packages budgeted so far amount to $800 million.

8. Al-Reem Island development is a $7.8 billion mixed-use community next to the bridge connecting Al-Reem Island to Abu Dhabi city. Several 40 and 50 storey towers will form the central business district. The development will include two 80-storey buildings and house approximately 80,000 people.

9. With a masterplan budget of $6.5 billion, Sheikh Mohammed Bin Zayed City is another new city comprising 374 residential and commercial buildings as well as the associated infrastructure and entertainment facilities. Total packages so far amount to $924 million.

10. At joint number ten with masterplan budgets of $3 billion each are the Abu Dhabi Light Rail project and the MGM Grand Hotel. The rail project will involve some 350 kilometres of rail. The MGM Grand project will have two further branded luxury hotels and more than 1,200 rooms. It will also feature a 12,000 seat arena, retail, restaurants, waterfront residences and private yacht berths.

Cityscape Abu Dhabi brings together international and regional investors, developers, architects, government authorities, regulators and professional bodies to discuss market challenges.

Cityscape Abu Dhabi 2009 has received widespread backing from industry leaders. Headline sponsor is Mubadala Real Estate and Hospitality; Platinum sponsors are Aldar, Sorouh Real Estate, Al Qudra Real Estate, The Land Real Estate Investment and Development Company, Qatari Diar Real Estate Investment Company, and Burooj Properties; Investment sponsor is Abu Dhabi Investment House; Associate sponsor is the Department of the Municipal Affairs, Abu Dhabi; Gold sponsors are Tameer and Al Maabar; Silver sponsors are Aqaba Development Corporation and HSBC. International Broadcasting Partner is CNN International

Over 111,000 residential units to be delivered in Dubai and Abu Dhabi by 2011

Over 111,000 residential units to be delivered in Dubai and Abu Dhabi by 2011

Danube aims to leverage growing demand by homeowners and interior design specialists for top quality building materials

February 10, 2009

Over 111,000 residential units are expected to be delivered within Dubai and Abu Dhabi, with approximately 80,000 units to be completed in the most populous city in the UAE, and another 31,000 units to rise in the capital within the next two years, according to recent industry reports. With expectations of the same trend hitting the other emirates, including Sharjah, Ajman and Ras Al Khaimah, Danube Building Materials, the leader in construction, building materials and shop fitting industries, is anticipating an increased demand from homeowners as well as interior design specialists for top quality building materials. In line with this, the company is gearing up for the launch of a first-of-its-kind, customer-friendly retail complex in RAK, which will feature its products installed in an actual home set-up to allow for more convenient shopping.

Danube has long since identified the potential in establishing strong ties with its customers from each of the emirates by providing personalised services and high quality products to address their specific needs. The new RAK-based retail complex will be staffed with highly trained personnel, who can be of great assistance to end-users and even interior designers operating within the local markets. The retail complex has been designed to offer customers the widest range of products in addition to providing them with access to professional design advice.

”Spreading our facilities and showrooms across strategic locations in the Emirates is in line with our aims to leverage the high demand for building materials that match the stringent requirements of today’s clients,” said Rizwan Sajan, Chairman, Danube Building Materials. “We are fully committed to catering to the needs of a broad spectrum of customers within the UAE, including developers, contractors, end-users and homeowners, not only in terms of supplying top-quality construction materials but also by providing professional advice to help them choose the ideal products to use in their projects. We are looking forward to launching additional facilities in the country, as well as in other strategic locations within the region.”

Danube offers a wide range of building materials that facilitate various design options and cater to every budget, including kitchens, bathrooms, tiles, shower rooms, jacuzzis, flooring in ceramic and wood, ceilings, doors, wallpapers, designed glasses, marble, granite, wall panelling, different finishes of laminates, veneers, mouldings, paints and luxury paints. All of its products have passed environmental standards and are safe to use, in line with the implementation of green building codes within the majority of the emirates.

“As a leader in the construction material market, our strategy has always involved helping our customers acquire our products conveniently, which is why we are keen on setting up our facilities that can easily cater to their construction material needs. The current economic crisis had undoubtedly created tremendous obstacles for the construction sector, but we believe that with ingenuity and creativity, we will be able to ride this financial storm and regain the strength of the market. At present, we are focused on the start-up of our Ras Al Khaimah retail complex, and we are confident that this new endeavour will match the success we have seen across the UAE,” concluded Sajan.

Danube has recently inaugurated two new state-of-the-art facilities in Ajman and Al Quoz, wherein the company invested a total of AED 55 million as part of its regional expansion plans to address the demand for top-quality materials in the region. The AED 30 million facility in Ajman has a total area of 58,000 square feet and carries Danube’s most popular products, including wood, steel, aluminium, glass, and flooring. Furthermore, the manufacturer has made a decision to invest in a new factory in Al Quoz, which spans a total of 30,000 square feet.

RTA Inaugurates Deluxe Coach Service between Dubai & Abu Dhabi

RTA Inaugurates Deluxe Coach Service between Dubai & Abu Dhabi

Dubai - Roads & Transport Authority:

The Public & Transport Agency at Roads & Transport Authority (RTA) inaugurated today the Deluxe Coach Service shuttling between Dubai & the capital Abu Dhabi in a step aiming to beef up inter-city transport sector. To run this service RTA deployed a number of deluxe coaches which had been procured last year from a leading UAE-based company at a cost of AED128 million. In the initial stage, 10 coaches will be deployed and the number will be increased later on up to 55 deluxe coaches to offer a service at a fare of AED20 per person per trip.

The CEO of RTA Public Transport Agency Essa Abdul-Rahman Al Dossari said that such type of new deluxe coaches was part of an integrated strategic plan developed by the RTA to upgrade mass transit modes in the emirate and attract additional commuters to help alleviate road congestion. “RTA is seeking to increase the percentage of trips made by mass transit modes to 30% through provision of mass transit options of high quality, reasonable cost and wide geographical coverage to beat the demand for private vehicles. Besides that, RTA is also endeavouring to raise the awareness, orient the culture & social attitude towards using mass transit modes, and enhance the integration between mass transit modes such as public buses, Dubai Metro and marine transport” he said.

About the specifications of the new coaches Al Dosari said: “The new coaches are built at the best technologies and highest security & safety standards with designs customized to meet the requirements of special needs persons as these buses are fitted with purpose-built entry and seating points on board. These coaches boast top class luxurious standards and are fitted with seats emulating aircraft Business Class seats, with ample space between seats along with audio-visual multi-channel entertainment packages. Additionally, the coaches are fitted with wireless internet service (WiFi) as well as a food compartment and toilets.

“In the initial stage, this coach service will cover Abu Dhabi and Al Ain cities and will be expanded in the next stage to cover other areas. We are confident that the facilities offered in the new coaches will lure additional passengers to use public transport modes.

Commenting on the advance technologies applied in manufacturing these buses Al Dosari said: “These new buses are of Volov B12B brand and are fitted with the latest version of Euro IV engines that meet high environmental standards, a unique transmission system (I-Shift), and sophisticated braking and stability systems (ESP). Thanks to these specifications, driving such coaches is becoming more comfortable, safer to passengers and fuel efficient as well.

“We anticipate that this service will be well received by passengers commuting between Dubai and Abu Dhabi as it reflects one of the core values of the RTA through addressing several aspects of quality, safety and environmental concerns”, said Al Dosari in a final remark.

Closing Ceremony , WFES09 , Tony Blair

Closing Ceremony Speeches for WFES09

Your Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Your Highnesses, Excellencies, Ladies and Gentlemen...good afternoon.

I would like to thank all the delegates for attending this year’s World Future Energy Summit…your presence is a testament to the FUTURE of the renewable energy industry…and it truly looks BRIGHT.

Of course I would also like to thank the many supporters and sponsors of the event:

- His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces for his patronage
- MASDAR – our host
- Credit Suisse – our principal sponsor
- Our many other sponsors and supporters, including media
- Plus of course, the SPEAKERS, many of whom have travelled around the world to be here with us this week, giving their time and their thought leadership so generously and without fee. For those familiar with the British tabloids and recent reports – that includes Mr. Blair!

It has been a great pleasure to host so many industry leaders and innovators under one roof to exchange their IDEAS and share their KNOWLEDGE.

Together, we have pushed forward the future energy agenda over the last three days. Governments have laid out policies to enable the growth of renewable energies. Private industry has made investments that will accelerate the deployment of critical technologies. And as global citizens we have recognized the importance of innovation, and our collective responsibilities.

(PAUSE)

It has been a successful summit.

- We set ourselves a target of 15,000 attendees – we exceed our target.
- The count at 2pm today was that 16,427 individuals walked through the doors!
- Those individuals are from 95 countries
- We have had 359 exhibitors showcasing their wares…
- .. and 11 country pavilions

Over the past three days, partnerships have been made and agreements have been reached:

- MASDAR signed an agreement with the Seychelles government to develop a wind farm to help power the country.

- MASDAR welcomed General Electric as our first major tenant in Masdar City.

- MASDAR signed an agreement with MIT to join as one of the inaugural founding members of the MIT energy initiative.

- MASDAR are going to be partnering with the Nigerian national petroleum company to develop carbon emissions reduction projects. (WE ARE STILL DETERMINING IF WE ARE GOING TO MENTION THIS)

- Abu Dhabi announced a 7 per cent renewable energy target by 2020.

And, we recognized the innovative and inspiring accomplishments of Mr. Barua, winner of the inaugural Zayed Future Energy Prize. A Prize that I hope will motivate future generations in finding revolutionary ideas and solutions to creating a sustainable future.

Once again, the World Future Energy Summit has proved to be the place where business and solutions are made. Next year, we will increase the summit to a 4 day event and encourage students from around the world to attend.

TOGETHER we will continue the push for a sustainable future.

PAUSE

It now gives me great pleasure to welcome our first address of the closing ceremony;

Her Excellency Quentin Bryce, Governor General of Australia


.....................

Your Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Your Highnesses, Excellencies, Ladies and Gentlemen...good afternoon.

I would like to thank all the delegates for attending this year’s World Future Energy Summit…your presence is a testament to the FUTURE of the renewable energy industry…and it truly looks BRIGHT.

Of course I would also like to thank the many supporters and sponsors of the event:

- His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces for his patronage
- MASDAR – our host
- Credit Suisse – our principal sponsor
- Our many other sponsors and supporters, including media
- Plus of course, the SPEAKERS, many of whom have travelled around the world to be here with us this week, giving their time and their thought leadership so generously and without fee. For those familiar with the British tabloids and recent reports – that includes Mr. Blair!

It has been a great pleasure to host so many industry leaders and innovators under one roof to exchange their IDEAS and share their KNOWLEDGE.

Together, we have pushed forward the future energy agenda over the last three days. Governments have laid out policies to enable the growth of renewable energies. Private industry has made investments that will accelerate the deployment of critical technologies. And as global citizens we have recognized the importance of innovation, and our collective responsibilities.

(PAUSE)

It has been a successful summit.

- We set ourselves a target of 15,000 attendees – we exceed our target.
- The count at 2pm today was that 16,427 individuals walked through the doors!
- Those individuals are from 95 countries
- We have had 359 exhibitors showcasing their wares…
- .. and 11 country pavilions

Over the past three days, partnerships have been made and agreements have been reached:

- MASDAR signed an agreement with the Seychelles government to develop a wind farm to help power the country.

- MASDAR welcomed General Electric as our first major tenant in Masdar City.

- MASDAR signed an agreement with MIT to join as one of the inaugural founding members of the MIT energy initiative.

- MASDAR are going to be partnering with the Nigerian national petroleum company to develop carbon emissions reduction projects. (WE ARE STILL DETERMINING IF WE ARE GOING TO MENTION THIS)

- Abu Dhabi announced a 7 per cent renewable energy target by 2020.

And, we recognized the innovative and inspiring accomplishments of Mr. Barua, winner of the inaugural Zayed Future Energy Prize. A Prize that I hope will motivate future generations in finding revolutionary ideas and solutions to creating a sustainable future.

Once again, the World Future Energy Summit has proved to be the place where business and solutions are made. Next year, we will increase the summit to a 4 day event and encourage students from around the world to attend.

TOGETHER we will continue the push for a sustainable future.

PAUSE

It now gives me great pleasure to welcome our first address of the closing ceremony;

Her Excellency Quentin Bryce, Governor General of Australia

Masdar Signs Agreement with Seychelles Government

ABU DHABI AND SEYCHELLES PARTNER TO DEVELOP WIND POWER ON MAHÉ

Masdar Signs Agreement with Seychelles Government

ADU DHABI, January 20, 2009 — Masdar, Abu Dhabi’s multi-faceted future energy initiative wholly owned by the Mubadala Development Company, and the Seychelles government announced today a collaborative agreement to develop renewable energy in the Seychelles.
Preliminary studies have indicated that wind energy, solar energy and waste-to-energy options will be able to supply the pristine island of Mahé with clean, renewable power.
Under this collaborative agreement, it is expected that feasibility studies and the required environmental impact assessments will be undertaken to determine the positioning of wind turbines in several locations around Mahé Island. An initial target of 18 megawatts of electricity generated from wind power is envisaged, which could initially supply at least 10-15 percent of
Mahé Island’s total energy demand, offsetting the need for expensive imports of traditional diesel and heavy fuel oil.
“This collaboration is a direct result of our leadership’s mandate of diversifying our renewable energy portfolio through strategic international partnerships,” said Sultan Al Jaber, Chief Executive Officer of Masdar. “This wind power project reflects the commitment to sustainability by both the Abu Dhabi and Seychelles governments.”
“Wind power is a viable, clean and renewable energy resource that must be harnessed to reduce our dependence on imported fuel and ensure the preservation of the Seychelles’ stunning natural beauty for future generations,” said James Alix Michel, President of the Republic of Seychelles. “We have been working closely with Masdar for several months to
identify the most effective renewable energy solution for our island nation with the least environmental and visual impact.”
Emission reductions resulting from the project will be monetized under the Clean Development Mechanism (CDM) framework of the Kyoto Protocol as Certified Emission Reduction (CER) credits.


About Masdar
Masdar is Abu Dhabi’s multi-faceted future energy initiative advancing the development, commercialisation and deployment of renewable and alternative energy technologies and solutions. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), and is wholly owned by Mubadala Development Company. For more information about the Masdar Initiative, please visit [url]www.masdaruae.com[/url].
High-resolution images of Masdar City and the 2009 World Future Energy Summit are available at [url]http://www.flickr.com/photos/masdar/[/url].

Masdar City,WORLD FUTURE ENERGY SUMMIT 2009, ABU DHABI

Masdar City,WORLD FUTURE ENERGY SUMMIT 2009, ABU DHABI

Masdar City,Abu Dhabi , site visit , 18/January/2009

Masdar City,Abu Dhabi , site visit , 18/January/2009

Dubai constructions update by Imre Solt: Masdar City,Abu Dhabi , site visit , 18/January/2009

Masdar City,Abu Dhabi , site visit , 18/January/2009

Masdar City,WORLD FUTURE ENERGY SUMMIT 2009, ABU DHABI

Masdar City,WORLD FUTURE ENERGY SUMMIT 2009, ABU DHABI

Masdar City,WORLD FUTURE ENERGY SUMMIT 2009, ABU DHABI

Masdar City,Abu Dhabi construction photos by Imre Solt, 18/January/2009