As reported by constructiondigital, according to officials, work will begin on the capital's International airport US$ 6 billion Midfield Terminal Building (MTB) expansion next year. Despite the economic downturn, the UAE continues its building tear with the planned 2012 construction of a 650 thousand square meters terminal for the Abu Dhabi International Airport (ADIA). The terminal will have a capacity of up to 30 million passengers when it is completed in 2017. The five year project will cost an estimated US$ 6.08 billion, and six bids are being reviewed for the construction phase with firms from Germany, South Africa and the United States. The contract should be awarded in the first quarter of 2012. The giant X shaped building will have one of the world's longest spanning arches with a height of more than 52 meters. In addition to the conventional airport facilities, the terminal will also house a luxury hotel and spa. The complex will include 20 to 25 thousand square meters of retail and food and beverage outlets, roughly equivalent to the current size of the Marina Mall in Abu Dhabi. These are set around an 8.4 thousand square meter indoor park, which will host Mediterranean plants and features at its centre and desert landscapes at its perimeter. As reported the official website of ADIA, piling works for the terminal building began in February 2009. ADAC announced the release of the MTB tender in January 2011. Abu Dhabi International Airport (ADIA), first open in 1982, is one of the two international airports for the Emirate of Abu Dhabi, is located about 30 kilometer from Abu Dhabi city center, and is the home of Etihad Airways, the Abu Dhabi carrier.

According to The National, several towers are scheduled to open on or near the Corniche in Abu Dhabi in the next few months, offering more than 1,400 apartments with rooftop pools, health clubs and all the modern amenities. For the first time, the capital will have the type of high-end apartment towers common in Dubai. "I see a lot of people moving back from Dubai because we have the quality now," says Almer Agmyren, the managing director of Rex Real Estate. The list of nearly completed projects includes Etihad Towers, the collection of five blocks near the Emirates Palace hotel. There is also the 47-storey Seba Tower, now known as Al Ain Tower and commonly known as the "wobbly building", near Spinneys market, and Nation Towers, which is next to the Hilton Corniche. "Anything on the Corniche is literally like a jewel in the crown," says Steve Morgan, the head of the UAE office for the property consultancy Cluttons. "They are filling a niche in the marketplace for people who can afford it." Prospective tenants have been told the first of the 885 apartments in Etihad Towers will be available on October 15. Annual rents in the Etihad Towers apartments range from a low of US$ 27 thousand for a 67-square meter one bedroom to US$ 265 thousand for a 732-square meter penthouse. A two-bedroom, 160 square meter apartment is listed at about US$ 61.3 thousand. Al Ain Tower, which is expected to offer similar pricing, is also scheduled to open by the end of October, agents have been told. Nation Towers is likely to open in the spring.

As reported by Arabian business, Prime office rents in the Middle East have fallen off a list of the world's top ten most expensive locations, according to real estate consultancy Knight Frank. Commercial rents in Abu Dhabi and Dubai, which were ranked the world's sixth and seventh priciest in 2010, have failed to make the top ten this year amid oversupply and falling rates. "The high levels of development activity in recent years have left many of these locations with an oversupply of office space, forcing landlords to reduce rents further to attract tenants. Prime office rents fell by 10-20 percent during 2010 in Dubai and Abu Dhabi, and are likely to fall further in 2011.," analysts said. A five-year property boom in Dubai collapsed at the end of 2008 amid the global financial crisis, halving real estate prices. In neighboring Abu Dhabi, property prices fell around 45 percent. In Dubai's tax-free business hub, DIFC, rents have fallen 50 percent from their 2008-peak while approximately 200,000 square meter of office space is expected to be delivered by third party developers over the next 18 to 24 months, said Knight Frank. London's West End takes the top spot for the most expensive office rents in the world, up from second in 2010. Tokyo, Japan has dropped one spot this year, followed by Hong Kong and Moscow, said Knight Frank.