Video: Aldar signs deal to bring 10km hyperloop system to Abu Dhabi
The property development giant has teamed up with Hyperloop TT for the phased development of a hyperloop network within its master developments
An agreement has been signed in the UAE to develop what will be among the world's first commercial hyperloop systems.
A memorandum of understanding (MoU) has been signed between Aldar Properties and Hyperloop Transportation Technologies (Hyperloop TT) that will lead to the development of a hyperloop network in the UAE capital.
The MoU will see both firms collaborate to develop an urban centre within Aldar's Seih Al Sdeirah land bank, close to its recently launched master-development, Alghadeer.
Hyperloop TT's site within Seih Al Sderieh is located on the border of Abu Dhabi and Dubai, close to the Expo 2020 site and the Al Maktoum International Airport.
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When it is completely rolled out, the MoU will spur the development of a Hyperloop TT centre that includes a full-scale, commercial hyperloop system, a Hyperloop Research and Development (R&D) Advanced Mobility Centre, a demonstration and visitor centre, and an Innovation Hub Facility.
Hyperloop TT's plans include the phased construction of a transport line, starting with a 10km allocation, with the network also likely to expand across the UAE and beyond.
Commenting on the MoU, Talal Al Dhiyebi, chief executive officer of 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 Hyperloop TT, added: "This agreement creates the basis for the first commercial hyperloop system in the world here in the emirate of Abu Dhabi.
"With regulatory support, we hope the first section will be operational in time for Expo 2020."