Aabar Investment's latest high profile move is a high-rise building in one of the ritziest areas of Manhattan, a block away from Central Park, the Russian Tea Room and Carnegie Hall. Here is the story from earlier this week.

One interesting detail is its proximity to Jumeirah Essex House, an old high-end hotel that was purchased by Dubai Investment Group in 2005. The new Aabar building, which is being developed by NYC developer Extell, will tower over the all the surrounding buildings in the area and offer views of Central Park. Having these two landmark buildings next to each other will be a testament to the UAE's increasing role in owning and managing luxury properties around the world.

Much of the Gulf investment in property is focused in London right now, but analysts say that more New York City deals could be on the horizon as business picks up there.

The new Aabar-Extell project will rise nearly 80 stories, featuring high-end apartments, offices and a hotel. The design is by French architect Christian de Portzamparc, who was behind such radically new structures as the LVMH Tower in New York and the Lille Tower in France.

That UFO-like building we wrote about on Crane Country the other week turns out to be otherworldly after all. Check out these pictures from inside. Jean Nouvel, along with the dozens of engineers behind the ambitious Louvre Abu Dhabi, have built this place as a sort "light lab". The domed roof of the Louvre will have thousands upon thousands of holes in it in the shape of various patterns that will throw shards of light on the galleries, waterways and floors of the museum.

Photo caption: Jean Nouvel and Sheikh Sultan bin Tahnoon Al Nahyan inside the "light lab". Galen Clarke / The National

Also, in case you were afraid of the impact of rain on the Louvre, Emirates Business 24/7 has some details about a transparent film that will protect it from tropical storms, snow, hail, and other types of downpours.

Emaar Properties has sent out some good photos of the cranes being removed from the Burj Dubai. These three huge tower cranes could lift up to 25-tonnes at a time and could withstand 120km per hour winds. Photos courtesy of Emaar Properties

More stats:
- 63,300 tonnes of steel reinforcement were lifted
- the cranes were operational for 45,000 man-hours
- 35 technicians manned the cranes

Read Emaar's account of how the cranes were removed after the jump ...

While I am extraordinarily impressed by Yas Island, especially the race track, I do have one gripe with the new ultra modern, ultra sleek Yas Hotel (the curvy one with the exterior that lights up at night).

Photo caption: The patio and fountain at Yas Hotel on Yas Island. Galen Clarke/The National

I decided to visit this weekend, but upon arriving I came upon a long line of people at the security gate at the bridge that connects to the hotel. Many of the cars were turning around - including Mercedes and Maseratis. When I came to the gate, I found out that several of the would-be patrons of the hotel were so offended of an entrance fee of Dh100 each that they were heading home. It turned out that the certificate could be redeemed at the restaurants and cafes, but the payment still had to be made before entering the hotel.

I personally lost money on the deal because I couldn't drink enough coffee to spend the full Dh100. Even if I had gone there for dinner, I would still begrudge the fact that the hotel was so distrustful of me that I had to pay even before entering the grounds. I don't think that's the way to gain a reputation as a great hotel in the UAE.

I know that there is a similar system at the Burj al Arab, which is a "seven star" hotel, but I fundamentally disagree with the strategy. It makes people feel like they shouldn't be there. Take the Emirates Palace, for example. Everyone feels equally welcome as they pass through the golden doors and the place still feels classy.

Over the weekend, Jessica Hume - The National's architecture reporter - put together a very interesting piece about what Yas Island means for the future of development in Abu Dhabi. Khaldoon al Mubarak, the chief executive of Mubadala and head of the Executive Affairs Authority, said that the island would act as a blueprint for Abu Dhabi's future.

"We used Yas as almost the future urban component ... we wanted to test things out," he said. Pointing to the shaded pavements, street lighting, cycleways, even the materials being used, he said, "these are things not typical for Abu Dhabi which hopefully will be typical in the future".

Photo caption: Abu Dhabi - November 4th, 2009. New light posts line the sidewalks on Yas Island. Jessica Hume, The National's architecture correspondent, says they look like "blades of grass". Galen Clarke/The National

Ms Hume takes a walk on the island to experience the blueprint first hand and finds pedestrian walkways "good enough to rival any in the world" and street lamps that look like "blades of grass". Find the article here. Her observations are well worth reading.

If these things come to Abu Dhabi, they will go a long way to making the city more liveable. Over the weekend, this reporter took a walk with his father from Lebanese Flower to the Beach Rotana, where he was staying. The walk was arduous, with construction work spilling over onto the sidewalk, a constant need to climb up and down curbs, and a lack of any signage to guide us on our trek.

Frank Khoie, the imprisoned executive from Khoie Properties, has penned an open letter from prison that calls for wide reforms to the Ras al Khaimah's laws. Mr Khoie was sentenced to three years in prison for bouncing two cheques worth Dh114 million. He lays out the arguments very well.

He writes:

"If rapid progress, modernization and economic growth are to be sustained in the emirate of Ras Al Khaimah, judicial reform is urgently needed. The concepts of due process and presumptive innocence until proven guilty have yet to be fully implemented in UAE's northernmost emirate."

Across the UAE, it is automatically a crime when a cheque bounces. The issue is being addressed by top officials, including the Justice Minister Hadef al Dhahiri. Read about it here, here and here.

Read the full letter after the jump ...

Estimates of between 90,000 and 140,000 homes coming into the Dubai market over the next few years could be exaggerated, according to a new report from HC Brokerage.

The brokerage concludes the number is closer to 60,000 units, citing an analysis of the balance sheets of the five largest developers in Dubai. What's more, they say that this number will be roughly equivalent to the demand for units between Dubai and Abu Dhabi.

Excerpt:

Dubai's services based economy is the most correlated to the global economy and as such was hardest hit by the crisis. The fallout of which was mass layoffs as companies looked to reduce their overheads and consolidate their activities, leading to an expatriate exodus. This, along with stock additions, the legacy of an overbuild period driven by speculative demand and hot money, has resulted in a rapid drop-off in occupancy levels, and hence rental yields.

On the other hand, however, the pace of construction has also slowed as developers continue to put on hold or delay projects. Also, weakening demand in Dubai has been helped by a significant spill-over from Abu Dhabi, and even Sharjah and Ajman, driven by relatively attractive rentals. Also it is important to mention that several Dubai residents who lost their jobs were able to find opportunities in Abu Dhabi, thus maintaining their residence.

BuildSafeUAE just put out their latest construction worker comic. This one is about working at heights. I'm going to put this online just because it is a brilliant project designed to reduce accidents and deaths at construction sites around the UAE. Falls from height are the most deadly accident in the country. They make these comics in half a dozen languages.

Could Abu Dhabi be home to the likes of Formula 1 driver Lewis Hamilton?

That's what Adel Hamaizia, the business development manager of the property brokerage Re/Max Abu Dhabi, believes. He was at Yas Island yesterday and said that there was some chatter among race car drivers about buying a villa on the island at some point. He personally spoke to Mr Hamilton, who said he was "absolutely" interested in Abu Dhabi property, Mr Hamaizia said. Though I doubt Mr Hamilton, of the McLaren-Mercedes team, would want to live in the Ferrari-themed homes that The National reported on earlier this week, I could see a celebrity wanting to own a vacation home on the exclusive island development of Nurai or something similar.

There is a massive plume of black smoke coming from Reem Island. Bunya, the company in charge of infrastructure on the whole island, confirmed the fire was at the Marina Square site, which is under development by Tamouh Investments.

Marina Square is schedule to be one of the first places on the island where people can move in early next year. Here is The National's breaking story on the fire.