It will host the headquarters of the International Renewable Energy Agency
Design and intent
The project is headed by the Abu Dhabi Future Energy Company (ADFEC). Initiated in 2006, the project is projected to cost US$22 billion and take some eight years to build, with the first phase scheduled to be complete and habitable in 2009.[6][7][8] The city is planned to cover 6 square kilometres (2.3 sq mi) and will be home to 45,000 to 50,000 people and 1,500 businesses, primarily commercial and manufacturing facilities specialising in environmentally-friendly products, and more than 60,000 workers are expected to commute to the city daily.[7][9][10] It will also be the location of a university, the Masdar Institute of Science and Technology (MIST), which will be assisted by the Massachusetts Institute of Technology (MIT).[11][12] Automobiles will be banned within the city; travel will be accomplished via public mass transit and personal rapid transit systems, with existing road and railways connecting to other locations outside the city.[9][13] The absence of motor vehicles coupled with Masdar's perimeter wall, designed to keep out the hot desert winds, allows for narrow and shaded streets that help funnel cooler breezes across the city.
Masdar City will be the latest of a small number of highly planned, specialized, research and technology-intensive municipalities that incorporate a living environment, similar to Novosibirsk, Russia or Tsukuba Science City, Japan.
Partners in the project through its Clean Tech Fund are Consensus Business Group, Credit Suisse and Siemens Venture Capital. Construction of the first phase of the project is being managed by CH2M HILL. Infrastructure construction for the city will be handled by the Al Jaber Group and design of the central Masdar headquarters building has been awarded to Adrian Smith + Gordon Gill Architecture.