Categories: CryptoNews

The UAE’s Sustainable City Inches Closer Toward Completion

A lot of interesting things are happening in the United Arab Emirates as we speak. Perhaps the biggest project to date is a completely new city which is home to driverless cars, greenhouses, and villas powered by solar energy. The current cost of building this new city comes to $354 million, although that number may increase in the future. This radical venture has already attracted a lot of positive attention.

A Completely Different Kind of City

It almost appears as if the UAE is trying to make amends for being one of the world’s largest oil producers. In reality, its production of oil is not the problem, but rather the amount of greenhouse gases the country has emitted over the past few decades. Indeed, the government has acknowledged it is time for some big changes, and they are more than willing to put up a lot of money for specific projects. This is just the latest step in the country’s mission to become a cleaner nation in general.

These past few years, the UAE’s government has attempted to lower the nation’s dependency on fossil fuels. There is a growing focus on developing environmentally-friendly sources of energy. This shift will not be easy, but the UAE may very well be in the best position to make big things happen. While its latest venture may not necessarily become a big success right away, it is evident there are some exciting opportunities to explore.  

More specifically, a company called Diamond Developers is working on one of the largest projects in this area to date. It is in the process of building a completely new city 18 miles outside of Dubai’s city center. Unlike any other city in the world today, this new location will produce more energy than it consumes. As such, it has been dubbed a “Sustainable City”, and will set the government back a whopping $354 million. If all goes according to plan, construction of the city and its infrastructure should be complete by 2019.

Related Post

What makes this Sustainable City so appealing is how it will only produce clean and renewable energy. There will be a very strong focus on solar energy, with solar panels on every villa in the city itself. Moreover, there will be various greenhouses throughout the city, which should help out a lot as well. Last but not least, the city will gladly embrace driverless cars, a technology which is quickly becoming popular all over the world. It is unclear if they will be powered by electricity or another environmentally-friendly fuel.

Construction of the Sustainable City began back in 2013. Constructing a 113-acre city in a place where no services were present beforehand has been a challenge, but things are progressing nicely. Even though the city focuses on driverless cars, most of the neighborhoods will be completely car-free at all times. Many residents will take electric-powered public transport. Horse-drawn buggies are another option for those who prefer a more scenic journey. Every homeowner will get a free electric golf cart or a $10,000 subsidy toward buying a vehicle that meets the city’s guidelines.

The first part of the UAE’s Sustainable City is already in place. 500 villas and 89 apartment buildings have been erected already. There’s also plenty of office and retail space capable of turning this city into a bustling hub of activity. During the ongoing second phase of construction, contractors will build a school, a mosque, a museum, and a mall. With homes starting at “just” $1 million, there seems to be genuine interest in what the UAE attempts to achieve in this location.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Supreme Court Strikes Down Trump Emergency Tariffs In Landmark Ruling Limiting Executive Trade Powers

In a landmark decision that reshapes U.S. trade policy, the Supreme Court of the United…

18 hours ago

USDT Supply Decline Marks Biggest Contraction Since FTX Era

The global stablecoin market is entering a new phase of recalibration as the circulating supply…

18 hours ago

xStocks Surpasses $25 Billion Volume As Tokenized Equities Enter New Market Phase

The tokenized equities sector is accelerating rapidly, and xStocks has now crossed a defining milestone:…

2 days ago

Base Begins Transition To Native Tech Stack In Major Layer 2 Shift

Coinbase-incubated Layer 2 network Base is entering a new phase of its development, moving toward…

2 days ago

Zora Officially Launches Its Revolutionary “Attention Market” On Solana In A Bold Multichain Expansion

Zora has officially launched its new “attention market” on the Solana blockchain, marking a bold…

3 days ago

XRP Ledger Activates Permissioned DEX With XLS-81 As Institutional Trading Model Emerges

The XRP Ledger has introduced a new on-chain trading framework that signals a notable shift…

3 days ago