Abu Dhabi Plaza Complex in Astana to be completed in 2016

Abu Dhabi, April 1, 2013 (WAM) - The Abu Dhabi Plaza Complex, which is developed by Aldar, will be ready by November 2016 in Astana, to be ready for the Economic Expo 2017, which will be held in Astana, the capital of Kazakhstan. Askar Mussinov, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the UAE, said that the mega project will be a milestone in the country, benefitting from UAE experience in the green house building techniques. "The Abu Dhabi Plaza Complex project will include 90,000 square metres of commercial space, 598 residential units in an 88 storey tower (382 metre), a retail space of 111,000 square metres and two hotels. There will also be a tower within the complex, the highest in Central Asia," said Mussinov told "Gulf News". "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." He added that Abu Dhabi government had invested Dh5.5 billion (US$1.5 billion) to construct the complex in Astana through its main developer Aldar and the project will be completed in November 2016. The project is a major mixed-use development by the presidential palace in the centre of Astana. It comprises of a retail podium, integrated plaza, residential apartments, international grade office accommodation, and a hotel quarter. This integrated community will be a 24 hour destination, offering complete leisure and work solutions for the residents of Abu Dhabi Plaza. Aldar is developing the complex, which also consist of 450 luxurious flats. The hotel area will be 12,000 square metres. The complex will also have 80,000 square metre 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 told the paper 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. Responding to question on what other investments does the UAE have 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 Dh3.68 billion (US$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 US$500 million to this fund. He informed that a 50 businessmen committee from Dubai will be visiting Astana next May to consider scopes of economic and investment cooperation between the two countries. – Emirates News Agency, WAM