Lotus Engineering, a subsidiary of Group Lotus plc., a Norfolk-based firm best known for their high performance sports cars, and Abu Dhabi’s Mubadala Development Company signed a long-term Memorandum of Understanding in mid-February to enhance Abu Dhabi’s position at the forefront of environmentally orientated technologies and to accelerate the development of its manufacturing and business infrastructure.

The agreement outlines the basis for a strategic relationship to discuss development in advanced technological disciplines. Activities will be focussed on reducing ‘well to wheel’ CO2 emissions through the use of advanced lightweight materials and hybrid technologies, thus supporting Abu Dhabi’s low carbon footprint philosophy and addressing the environmental imperatives facing the automotive industry globally.

Potential investments in the future of the worldwide automotive and associated industries can harness Abu Dhabi’s abundant natural resources and further support the achievement of Mubadala’s key strategic objective of diversifying and developing Abu Dhabi’s rapidly growing economy.

The main operating subsidiary of Group Lotus plc is Lotus Cars Ltd, which has two operating divisions, Lotus Engineering and Lotus Cars. Lotus Engineering is an internationally recognised automotive engineering consultancy. Its world wide facilities and officesincludethoseintheUnitedStates,Malaysia, China, Germany and Japan, with rapid expansion in new territories such as South East Asia and the Arabian Gulf. It offers a full engineering service to many autmobile manufacturers, from initial concept and project design through development and integration of the complete vehicle to meet all worldwide markets and customers to full production. This includes third party ‘niche vehicle’ engineering and manufacture worldwide.

Lotus Cars builds world class, prestige, high performance sports cars for sale in 37 countries. These include the iconic Lotus Elise, and the Exige and Europa. Lotus is a global high-tech company, expanding rapidly and committed to driving forward technology for both Lotus Cars and its Engineering clients, spearheading research into such areas as hybrids, electric vehicles and renewable fuels.

Group Lotus believe that “our track record in developing and producing clean and efficientengines,biofuelvehicles,hybrids and electric vehicles is already impressive and extensive. In fact, as we head into a new automotive era, the technology of CO2 reduction will become central to our engineering business.”

We look forward to seeing Lotus sports cars going through their paces on Abu Dhabi’s new Formula One racetrack on Yas Island in due course!

A ground-breaking UAE-UK joint venture in real estate development was announced in mid-February – a US $ 250 million shopping mall and offices complex in the coastal city of Karachi, Pakistan

.While there are a growing number of contracts and agreements between Abu Dhabi and British companies in terms of collaboration in property development in the UAE, the Karachi venture appears to be the firstsuchjointventuretohavebeen announced in recent years for a project in a third country.

The partners are Abu Dhabi’s Injaz Mena Investment Company and UK-based Global Haly Investment Ltd., with local project developers being Global Haly Development (Pvt) Ltd. Pakistani press reports said that the project was “ under the key sponsorship and patronage of HH Sheikh Sultan bin Khalifa bin Zayed Al Nahyan.”

The complex will be situated next to the Creek Golf Club along the Arabian Sea coastline, benefitingfromanunrestricted creek view.

The 5.3 acre plot of land will have a total built-up area of about 1.7 million sq ft, of which 700,000 sq.ft. will be saleable space, including over 400,000 sq.ft. of dedicated high quality retail space. The remainder of the seven-storey building will be for premium offices,whiletherewillbethreebasement levels for parking.

The developers claim that the centre will set a new benchmark for projects in Karachi, with all necessary facilities and infrastructure required to offer a luxurious lifestyle shopping experience within a true mixed-use project combining retail space, restaurants, open air terraces and an exclusive office complex

.Royal International is providing consultancy services for sub-consultants throughout the design and construction phases. Saunders Global, the lead architects for the project, undertook the structural and building services engineering design for the entire project in liaison with local engineers, Engineering Associates.

The project is due for completion in 2011.