Launched at Cityscape Abu Dhabi were the plans for the new central business district on Sowwah island.
Sowwah square district, situated between Reem Island and Abu Dhabi island, is an area of 570,000 square metres. It will house the Abu Dhabi Securities Exchange and will provide a centre for new business and financial ventures in the emirate and an important commercial district for the UAE.
This project is being funded by Mubadala, the investment and development fund controlled by the Abu Dhabi government, and involves the major US property company, John Buck. The new joint venture company, John Buck International will undertake all development, leasing and management responsibilities on completion.
The Sowwah Square area will incorporate 4 towers, a 5-star hotel, conference facilities and shopping outlets. The developers are hoping for a "triple A-list" of tenants for the island and aim to incorporate environmentally friendly building materials, recycling facilities, energy saving technologies and renewable energy sources in a bid to attract the best companies.
In time, Sowwah island will be integrated with other projects with 13 bridges planned to connect Reem, Sowwah and Abu Dhabi islands in addition to public transport facilities, pedestrian lanes, and a light rail system. The development is expected to be ready in 2010 and will take up 10% of Abu Dhabi's central business district.
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