First commercial Hyperloop system to be created in Abu Dhabi
First commercial Hyperloop system to be created in Abu Dhabi
Aldar Properties and Hyperloop Transportation Technologies have signed an agreement to bring the first commercial Hyperloop system, Hyperloop R&D, Demonstration & Visitor Centre, and Innovation Hub to the emirate.
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Aldar Properties PJSCFahad Al Ketbi, Deputy CEO of Aldar; Talal Al Dhiyebi, CEO of Aldar; Bibop Gresta, Chairman of HyperloopTT; Joel Michael, Head of Business Development for India, HyperloopTT; Rodrigo Sa, Head of Global Business Development, HyperloopTT -
Aldar Properties PJSCThe HyperloopTT site will be in close proximity to Aldar’s Alghadeer development.
Aldar Properties have signed a Memorandum of Understanding with Hyperloop Transportation Technologies (HyperloopTT) that will enable the development of a new urban centre in close proximity to Aldar’s Alghadeer development. The HyperloopTT site is conveniently located on the border of the Emirates of Abu Dhabi and Dubai, close to the Expo 2020 site and Al Maktoum International Airport.
The MOU, when fully executed, will allow for the creation of a new HyperloopTT centre including; a full scale commercial Hyperloop system, an Hyperloop Research and Development Advanced Mobility Centre, a visitor centre, and an Innovation Hub.
HyperloopTT future plans include construction of the line in several phases starting within a ten kilometer allocation, with further development aimed at creating a commercial Hyperloop network across the Emirates and beyond.
The ultra-fast Hyperloop is one of the latest and most advanced transportation technologies that is expected to reach a top speed of 1,200 kilometers per hour.
Commenting on the signing of the agreement, Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties, said, “We are delighted to be working with HyperloopTT as they look to bring one of the world’s most revolutionary transportation technologies to Abu Dhabi. Alghadeer 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.”
Bibop Gresta, Chairman of HyperloopTT said that the aim is for the first section to be operational in time for Expo 2020.
Source: Aldar Properties
See also:
Abu Dhabi’s economy prepares for stronger growth in 2018
Emaar and Aldar work together to launch joint projects worth up to AED 30 billion
