Abu Dhabi To Build $654 Million Louvre

Abu Dhabi To Build $654 Million Louvre
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A consortium led by Dubai-based Arabtec Holding will build the Louvre Abu Dhabi art gallery for $654 million, the developers of the project announced on Tuesday.

Abu Dhabi Tourism Development and Investment Company said construction would start immediately with the aim of opening the museum in 2015.

The contract was awarded to an Arabtec-led joint venture with Spanish company Constructora San Jose SA and Oger Abu Dhabi LLC “following a competitive tendering process,” it said in a statement.

“The contract, valued at 2.4 billion dirhams (around $654 million), signifies a major milestone in the progress of the Louvre Abu Dhabi,” it added.

Abu Dhabi has paid around $1.3 billion to use the Louvre name for 30 years and to tap the renowned Paris museum for artworks and expertise during this period.

The deal had stirred a debate in the French art world with critics saying the Louvre is selling its soul as they question Abu Dhabi’s treatment of dissidents and immigrant workers employed in the construction of the project.

The Abu Dhabi Louvre building has been designed by French architect Jean Nouvel.

Preston Waters | Elite. 

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Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

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