Company proposes $30bn UAE smart city mega project
Unveiled at a press conference in Abu Dhabi on Wednesday, 'Renaissance City' is a new $30 billion Italian smart city and is the latest in a series of large-scale development projects proposed for the UAE.
The developers behind the project claim that the city is a near certainty and that a significant amount of investor money is already in place to finance the plans. The smart city will be able to house around 30,000 residents in a 290 hectare space and will combine the cultures of the UAE and Italy together.
Sirei – a group of Italian real estate companies led by company founders Massimo and Gianluca Mazzi and architect Paolo Caputo – presented the masterplan with a hope to develop the project somewhere in the UAE to coincide with the Expo 2020. The group will bring the project to further potential investors in the UAE in September.