April 15, 2014 — I just got back from the three-day Global Aerospace Conference in Abu Dhabi. What an amazing city, with tremendous capital resources and huge ambitions. Everywhere you look, there are massive development projects under construction; major roadways with five or six lanes criss-cross the city, and three new man-made islands are being built, along with several five-star hotels, a Formula 1 racetrack, modern malls, and entertainment centers. Just outside the city, hundreds of cranes are building what will be the largest airport in the world when it opens in 2017.
The goal is to transform this rich, oil-producing Emirate into a diverse, world-class cosmopolitan center along with hubs for the pharmaceutical, semiconductor, real estate, and aerospace industries.
One desert oasis, Al Ain, 2 hours away from Abu Dhabi, was a humble small town until a few years ago. Emirate leaders envision Al Ain as the future world-premier aerospace center located in the heart of the Middle East. Hundreds of acres of desert will be converted into bustling aerospace manufacturing facilities. Just recently, Mubudala, the government’s investment group, completed construction of a state-of-the-art composites facility, Strata, which is already supplying parts for Airbus and other aircraft manufacturers.
Amazing Factoid: Expats make up 75% of the UAE’s population of 1.5 million people. 400,000 citizens of the Emirates each have an average net worth of $17 million.
The conference itself brought together C-level aerospace executives from around the globe to discuss strategies for future growth. Leaders from all of the large commercial jet companies were present, but I was disappointed not to see more presence from business jet companies. A lot of conversation centered around the relationships Etihad Airlines is building to position Abu Dhabi as a hub for flights from Europe to Asia. Also, there were a number of presentations and discussions about building new partnerships and strategic relationships.
I did manage to take a day off and go on a desert safari, which included dune bashing, sand boarding, 4×4 racing, and camel riding – all incredibly fun. The day ended with an Arabian Nights dinner complete with a very sensual belly-dancing performance. I thought that was odd in a very conservative country, but was told it was tolerated for the tourists’ sake.
