Abu Dhabi - Mubasher: Aldar Properties has announced the signature of a memorandum of understanding (MoU) with Hyperloop Transportation Technologies to enable the development of a new urban centre within Seih Al Sdeirah landbank.
Under the MoU, Hyperloop will create a new HyperloopTT centre including a full-scale commercial Hyperloop system, a Hyperloop R&D advanced mobility centre, a demonstration & visitor centre, and an innovation hub, according to a company statement released on Wednesday.
“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,” Aldar Properties’ CEO Talal Al Dhiyebi commented.
Hyperloop is planning to construct the line in several phases starting within the 10-kilometre allocation in order to create a commercial Hyperloop network across the Emirates and beyond, the Abu Dhabi-listed company revealed.
“This agreement creates the basis for the first commercial Hyperloop system in the world here in the Emirate of Abu Dhabi,” Hyperloop’s chairman Bibop Gresta commented.
