New $20bn project will transform Dubai
A $20bn project on the site in Dubai previously set aside for the Mall of the World was revealed at Cityscape.
Dubai Holding, the investment vehicle of the emirate’s ruler, HH Sheikh Mohammed bin Rashid Al Maktoum announced the plan for a new district in the city, which will be called Jumeirah Central
It will include 75 city blocks for residential, office and retail, 22 bus lanes, a gondola cable car, six new tram station, 8km of climate controlled streets, 37 plazas and 33 parks.
The first phase, set to cost $6.5 billion, is to include 2,800 hotel rooms and 3,000 apartments.
Government and private agencies, international experts, and consultants, led by Dubai Holding, have collaborated for the Jumeirah Central master plan over the last two years.
HH Sheikh Mohammed said: “As our vision for future cities evolves, Dubai will continue to set the benchmark for city development across the globe. Jumeirah Central is a clear milestone in our journey towards building the city of the future and the creation of engaged and happy communities.
“We will not stop investing in our economy, and these projects are tools to expedite that journey of growth.
“We are confident in the strength of our economy and are optimistic for the future of our nation,” he added.
Phase One will break ground in 2017, although site clearing and preparation is already underway, occupying land on the opposite side of the Sheikh Zayed Road from Mall of the Emirates,
HE Mohammed Abdullah Al Gergawi, chairman of Dubai Holding,said:: “Jumeirah Central is a result of extensive research into future urban development and the creation of more cohesive societies. It is a clear demonstration of our leadership’s vision, aiming to further Dubai’s global position as an attractive destination for residents and tourists alike.
“All project plans and designs have been endorsed by government authorities in Dubai and we expect to start development in the coming months.”
Dubai Holding has played an important6 role in developing strategic projects central to the city’ s economic growth; developments that have transformed its skyline.
These include; Burj Al Arab Jumeirah, Jumeirah Beach Hotel, Jumeirah Emirates Towers, Dubai Internet City, Dubai Media City, Jumeirah Beach Residence and Business Bay with a range of new projects under development including Marasi Business Bay, a waterfront destination along the Dubai Water Canal.
Ahmad Bin Byat, vice-chairman and managing director, Dubai Holding, added: “Jumeirah Central extends Dubai’s tourism vision past 2020 and will further reinforce Dubai’s position as the region’s leading international tourist destination.”