Saadiyat standstill
Louvre, Zayed National Museum and Guggenheim delayed
Planned projects for Abu Dhabi have stalled over recent weeks according to investment bank Arqaam Capital. It is bad news for the UAE as many people who had worked on projects in Dubai had started to work in the capital after employment had dried up as developers struggled to maintain capital flow.
Planned Museums and cultural buildings like Louvre Abu Dhabi, Zayed National Museum and Guggenheim Abu Dhabi will take longer to complete while other projects will never see the light of day.
The authorities have decided to take a break from building and are reviewing the financial details of their major signature projects. There seems to be a heightened focus on profit on government owned companies, as opposed to long term vision, as well as a re-examination of the 2030 plan in terms of the benefits it brings to Abu Dhabi.
