Time: April 18, 2018
Abu Dhabi: Hyperloop Transportation Technologies (HyperloopTT) plans to build the region’s first hyperloop line in Al Ghadeer and extend it to Yas Island, Abu Dhabi Airports and beyond, a top executive of the company told Gulf News.
Initially the company will construct a ten kilometre line within Al Ghadeer that is expected to be operational by 2020.
HyperloopTT signed a Memorandum of Understanding with Aldar Properties for the construction of the line in Al Ghadeer on Wednesday at Cityscape Abu Dhabi.
“This is a historical agreement we signed with Aldar. Hyperloop Transportation has been working for more than a year to conduct feasibility study with the government of Abu Dhabi to analyse routes in the region. This will be the first historical place (Al Ghadeer) where Hyperloop will start the commercial line which will be for ten kilometres,” said Bibop Gresta, chairman and cofounder of Hyperloop Transportation Technologies.
“We are planning to build a larger network to connect various emirates in the region. The construction of the hyperloop line will begin in early 2019,” he said.
The company did not disclose total investment involved in the project.
Gresta also said they are looking at several hyperloop routes including connecting Al Ghadeer to Yas Island, Abu Dhabi Airport, Al Ain and to Saudi Arabia in the future.
“Right now this is the biggest project and we will eventually show other activities in future.”
A Hyperloop research and development advanced mobility centre, a demonstration and visitor centre, and an innovation hub will also be created at Al Ghadeer as part of the agreement.
“With this agreement in Abu Dhabi, we take a big step towards the world’s first commercial hyperloop system,” Dirk Ahlborn, CEO of HyperloopTT said in a statement.
Factbox: Aldar Properties launches Dh10b Al Ghadeer project
Aldar Properties announced the launch of a new Dh10 billion Al Ghadeer mixed-use master plan close to the border of Abu Dhabi and Dubai in Seih Al Sdeirah this week.
The project consists of 14,408 units including 449 villas, 2,174 town houses and 11,785 maisonettes which will be delivered over a period of 15 years. It will also include office space, retail, hospitality, education and community facilities.
Maisonette prices start from Dh290,000, town houses from Dh899,900 while villas will start from Dh1.5 million.
The first neighbourhood of 611 homes went on sale at Cityscape Abu Dhabi with good response from visitors. The first phase of the project is expected to be completed during 2021.
“Al Ghadeer sits at such a strategic point within the UAE, close to major growth areas of both Abu Dhabi and Dubai, that it makes sense to pair it with rapid transport opportunities. We believe that Hyperloop technology can have a major positive impact on the lives of all of those living within our communities, and we look forward to this possibility becoming a reality,” Talal Al Dhiyebi, Chief Executive Officer of Aldar Properties said.