Today there was an announcement made by Abu Dhabi Commercial Bank ("ADCB") that the construction of the second phase of the Abu Dhabi One (AD-1) Building Project development in ADNEC's Capital Center District (CDD) has been started.
This is aligned with the Abu Dhabi 2030 vision and ADCB has commitment to invest in the Emirate, the value is estimated to be AED 450 million. Moreover this will be one of the largest single developments in CCD.
The development area is done under the Capital Center District. The area is of 8 million square feet and comprises of 23 towers in it.
Furthermore these 23 towers will include five worldwide hotels, five business-related buildings and seven residential buildings. Out of the seven buildings five will be compacted bungalow buildings and six towers will be of miscellaneous use.
It is expected by ADCB the AD-1 project to be finished by May 14, 2012. It is the one of two residential buildings.
Patrick Azar, General Manager, Abu Dhabi Commercial Engineering Services alleged that the construction of this AD-1 is done in the prominent area of the CCD's prestigious Capital Center Precinct.