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Masdar has appointed JLL to carry out a market and strategy analysis and to support the Master Plan update of Masdar City.
Masdar City is being developed as one of the most sustainable communities in the world with a focus on technology, research and innovation. The site is approximately 1.9 million sq m and consists of a mix of uses including residential, hospitality, retail and offices. The vision for the project is to be commercially viable whilst delivering a high quality 'live-work-play' environment with a focus on renewable energy and sustainability to achieve the lowest possible ecological footprint.
JLL has carried out a detailed review of the existing business plans for Masdar City and revised the existing target sectors, the value proposition, the master plan built-up area and the phasing plan based on the new Abu Dhabi market conditions and the findings of the interviews conducted with the key stakeholders. The analysis also considered Masdar City in the context of other relevant master developments and economic & technology clusters, to study how Masdar City can be complementary to projects in Dubai and Abu Dhabi.
Based on our advice, the long-term strategy for the overall project has been reviewed and our involvement extended. We now have a full-time JLL resource based at the client's offices for on-going advisory support and we were also awarded the leasing mandate for the office space within Masdar.