Abu Dhabi Plaza in Kazakhstan to be completed by November 2016
Mixed use project will comprise of retail, residential, offices and hotel
Abu Dhabi Plaza is set to be completed by November 2016.
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The Abu Dhabi Plaza Complex in Astana Kazakhstan will be ready by November 2016 for the Economic Expo 2017, developers Aldar have said.
The project is a mixed use development near the presidential palace and will comprise of a retail podium, integrated plaza, residential apartments, international grade offices and a hotel quarter. The integrated community will be a 24 hour destination, offering both leisure and work solutions to residents.
“The Abu Dhabi Plaza Complex project will include 90,000sqm of commercial space, 598 residential units in an 88 storey tower (382m), a retail space of 111,000sqm and two hotels. There will also be a tower within the complex, the highest in Central Asia,” said Askar Mussinov, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the UAE.
He added that the mega project would be a milestone in the country, benefitting from UAE experience in the green house building techniques.
“This development will expand the Special Economic Zone in Astana. The Abu Dhabi Plaza development is a catalyst for the city of Astana to further develop its economy and bring business interest into the nation.”
Mussinov added that the Abu Dhabi government had invested $1.5 billion to construct the complex in Astana through its main developer Aldar and that the project will be completed in November 2016.
Aldar is developing the complex, which also consist of 450 luxurious flats. The hotel area will be 12,000sqm. The complex will also have 80,000sqm of office areas. The Abu Dhabi plaza will be connected with rail network to Astana Airport. The complex will have 5300 parking lots.
This will make the complex a benchmark for accommodation standards, work and leisure, expanding across the Special Economic Zone by providing incentives to investments.
About main landmarks in the development of UAE-Kazakhstan ties, the ambassador added that both countries enjoy very strong political and economic ties. The two sides agreed two years ago to develop some projects and some of them are now in the pipeline.
“We consider the UAE as a key country in the GCC. Therefore, UAE joint investments are a must to improve our economic and trade balances. Last year, the trade balance between our two countries was Dh1.47 billion with expectation to rise this year,” he said.
Responding to questions on what other investments the UAE had in his country, he said; “Well, in addition to the construction of the multifunctional complex Abu Dhabi Plaza in Astana, the two governments agreed to launch a $1 billion Kazakh-UAE Equity Fund “Al Falah” in Kazakhstan.
The fund focuses on investments in power and energy, oil and gas services, mining and agriculture, in Kazakhstan and the Commonwealth of Independent States (CIS). The UAE and Kazakhstan each contributed $500 million to this fund.
He informed media that a 50 businessmen committee from Dubai would be visiting Astana next May to consider scopes of economic and investment cooperation between the two countries.
