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Construction Industry Slowdown Helps Louvre, Guggenheim

ImageThe slowdown in the construction industry has provided an unexpected bonus for the Louvre and Guggenheim museum projects in Abu Dhabi.  The Tourism Development and Investment Company (TDIC) launched both these projects last year at a cost of Dh5 billion (US$1.36 billion).  Because of less demand in this sector, costs are expected to be 30 per cent less than last year, and contractors, which were once difficult to find, are now plentiful.

France’s Jean Nouvel designed the Louvre, which looks like a floating dome, and Pritzker Prize winning Frank Gehry created dramatic drawings for the Guggenheim.  The projects will be part of the Cultural District on Saadiyat Island.  The search for builders has begun and by next year both projects in full gear.  The shortlist of contractors for the Louvre will be finalized soon and contractors have been invited to pre-qualify for the Guggenheim contract by 15 October.   

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