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Masdar City
Masdar City (Arabic: مدينة مصدر, romanized: Madīnat Maṣdar, lit. 'source city') is an urban community in Abu Dhabi, the capital of the United Arab Emirates. It was built by Masdar, a subsidiary of the state-owned Mubadala Investment Company, with the majority of seed capital provided by the government of Abu Dhabi.
Launched in 2006 as a $22 billion state-funded project to construct "the world's most sustainable eco-city" by 2016, the start date for the project has since been delayed indefinitely. By 2023, only 15,000 people lived and worked in Masdar City (of whom 5,000 were residents), and the community covered less than a sixth of the area it was intended to cover.
Masdar City is the headquarters of the International Renewable Energy Agency (IRENA). It was selected after a campaign by the UAE, and construction was completed in 2015.[citation needed]
The regional headquarters for Siemens is also in Masdar City. The LEED Platinum building makes use of sustainable and energy-efficient materials and building techniques. It was designed to use 45% less energy and 50% less water than typical office buildings. It won an award for best office building at the MIPIM Architectural Review Future Projects Awards in 2012. The Middle East Architect Awards named it both the best and most sustainable office building the same year. Siemens signed an initial ten-year lease with Masdar City.
Other institutions in Masdar City include Mohamed bin Zayed University of Artificial Intelligence, G42, the UAE Space Agency, and Khalifa University.
The UAE government initiated the Masdar City project in 2006, with the state-owned enterprise Mubadala Development Company beginning work with a US$22 billion budget. The original plan was that it would take approximately eight years to build, with the first phase scheduled to be completed and habitable in 2009.
Construction began in February 2008, and the first six buildings of the city were completed and occupied in October 2010. But due to the Great Recession and the 2008 financial crisis, planned completion was delayed to between 2020 and 2025. By 2016, less than 300,000 square metres (0.12 sq mi) had been developed, and final completion was estimated for 2030. As of 2020[update], a 2030 completion date was still projected.
The city is meant to be an example of sustainable urban development, innovation, and community living. As designed, it would be home to 45,000–50,000 people and 1,500 businesses. More than 60,000 workers were projected to commute to the city daily, but by 2023, only 15,000 people lived and worked in Masdar City (of whom 5,000 were residents).
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Masdar City
Masdar City (Arabic: مدينة مصدر, romanized: Madīnat Maṣdar, lit. 'source city') is an urban community in Abu Dhabi, the capital of the United Arab Emirates. It was built by Masdar, a subsidiary of the state-owned Mubadala Investment Company, with the majority of seed capital provided by the government of Abu Dhabi.
Launched in 2006 as a $22 billion state-funded project to construct "the world's most sustainable eco-city" by 2016, the start date for the project has since been delayed indefinitely. By 2023, only 15,000 people lived and worked in Masdar City (of whom 5,000 were residents), and the community covered less than a sixth of the area it was intended to cover.
Masdar City is the headquarters of the International Renewable Energy Agency (IRENA). It was selected after a campaign by the UAE, and construction was completed in 2015.[citation needed]
The regional headquarters for Siemens is also in Masdar City. The LEED Platinum building makes use of sustainable and energy-efficient materials and building techniques. It was designed to use 45% less energy and 50% less water than typical office buildings. It won an award for best office building at the MIPIM Architectural Review Future Projects Awards in 2012. The Middle East Architect Awards named it both the best and most sustainable office building the same year. Siemens signed an initial ten-year lease with Masdar City.
Other institutions in Masdar City include Mohamed bin Zayed University of Artificial Intelligence, G42, the UAE Space Agency, and Khalifa University.
The UAE government initiated the Masdar City project in 2006, with the state-owned enterprise Mubadala Development Company beginning work with a US$22 billion budget. The original plan was that it would take approximately eight years to build, with the first phase scheduled to be completed and habitable in 2009.
Construction began in February 2008, and the first six buildings of the city were completed and occupied in October 2010. But due to the Great Recession and the 2008 financial crisis, planned completion was delayed to between 2020 and 2025. By 2016, less than 300,000 square metres (0.12 sq mi) had been developed, and final completion was estimated for 2030. As of 2020[update], a 2030 completion date was still projected.
The city is meant to be an example of sustainable urban development, innovation, and community living. As designed, it would be home to 45,000–50,000 people and 1,500 businesses. More than 60,000 workers were projected to commute to the city daily, but by 2023, only 15,000 people lived and worked in Masdar City (of whom 5,000 were residents).