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Middle East - The clients

This month's clients: Abu Dhabi Future Energy Company & Qatari Diar Real Estate Investment Company.

Abu dhabi future energy company

The Abu Dhabi Future Energy Company (Adfec) is better known by the initiative that is was established to promote – Masdar (Arabic for the source). This initiative, funded by the Abu Dhabi government, is a programme of investment in the research, development and ultimately the commercial operation of renewable technologies. Its mission statement states that the firm's objective is to "search for solutions to some of mankind's most pressing issues: energy security, climate change and truly sustainable human development".

In its bid to do this it is investing hundreds of millons of pounds on a range of projects from a solar power plant in the desert and research into photovoltaic technologies to a major research institute within a carbon neutral city.

A range of contracts for the firm are currently out to tender, including that to build the 100MW solar power plant.

Its 100% renewable powered Masdar City is currently undergoing detailed design following architectural concepts produced by Foster and Partners.

The firm is led by chief executive Sultan al Jaber and investment in technological development is a core part of his agenda. "Research tracks currently underway include photovoltaics, water technologies and management (desalination, membrane technologies and policies), solar-thermal technologies and carbon management (carbon capture and storage).

"Projects are jointly financed by Masdar and industrial partners are selected by the host institution, with resulting know-how shared among the parties," he says.

One of its most ambitious projects is the development of a £1bn, 520MW hydrogen power station in Abu Dhabi with carbon capture and storage in partnership with Hydrogen Energy, a joint venture of the UK's BP Alternative Energy and Anglo-Australian mining group Rio Tinto.

Top 3 Projects
 Masdar City
 Hydrogen power plant
 Solar power plantQatari Diar Real Estate Investment Company

Qatari Diar is by far the biggest developer in Qatar and is owned by government investment fund the Qatar Investment Authority. As such it is responsible for the development of the Emirate's largest project, a 35km2 residential and commercial area known as Lusail. Over a 15 year construction period the project, situated north of Doha on the east side of Qatar, will house 200,000 people. A number of UK consultants are involved in the design of infrastructure for the scheme including the planning of road networks and power and water provision.

Led by CEO Ghanim bin Saad al-Saad, the firm is also developing a £600M, 105-storey tower and convention centre in Doha along with making tourism based investments in Oman, Egypt and Morocco. It also owns 45% of local real estate company Barwa Real Estate Company, which is listed on the Doha Securities Market.

Like most Gulf states Qatar is suffering from soaring materials prices and rising staffing costs in the construction industry.

In a bid to alleviate the pressure of rising prices the firm has entered into two partnerships with major international contractors: Vinci Construction Grands Projets back in 2006 and more recently with Hochtief. These two contractors are building their presence in the state and are also involved in Qatar's largest civil engineering project – the 45km Qatar to Bahrain causeway also known as the friendship bridge.

Like many other Gulf developers Qatari Diar is looking at overseas investment opportunities, particularly in emerging markets. In March this year it announced a joint venture with the Yemen Investment Authority, which involved the firm spending £250M on developing a tourism project involving a conference centre and hotel complex called Al Rayyan Hills.

Top projects (all offshore coastal developments)

 Lusail real estate development, Qatar
 Doha convention centre
 Al Hourra tourism complex,Morocco

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