Related News
Home 禄 Business 禄 Real Estate
Dubai unveils mega mall and garden project
Source: Bloomberg News |
November 26, 2012, Monday
|
Print Edition
Print Edition
DUBAI'S ruler has announced plans for a development boasting the world's biggest shopping mall and gardens larger than London's Hyde Park, as the emirate revives property projects on hold since the global financial crisis.
Emaar Properties PJSC, the United Arab Emirates' largest developer by market value, and Dubai Holding LLC will together build a district called "Mohammed Bin Rashid City," named after the Persian Gulf emirate's ruler. The project near central Dubai is to include 100 hotels, residential areas and green spaces 30 percent bigger than Hyde Park, according to a statement.
Dubai already has bragging rights to the biggest emporium by total area, Dubai Mall, which sprawls opposite the planet's tallest skyscraper, Burj Khalifa. Between these two Emaar structures is a man-made lake where the world's largest dancing fountain shoots water 50 stories high.
Dubai, seeking to stimulate its economy, wants to resume several projects that halted after the global credit crunch drove down property values by 65 percent and caused companies to suspend construction of hundreds of developments. Builders in the UAE have aborted about US$757 billion of projects since the crisis, Citigroup said in a report last month.
Meydan City Corp, which built a 60,000-seat horse racing stadium and hotel complex in Dubai, has said it would revive plans for two projects.
Emaar Properties PJSC, the United Arab Emirates' largest developer by market value, and Dubai Holding LLC will together build a district called "Mohammed Bin Rashid City," named after the Persian Gulf emirate's ruler. The project near central Dubai is to include 100 hotels, residential areas and green spaces 30 percent bigger than Hyde Park, according to a statement.
Dubai already has bragging rights to the biggest emporium by total area, Dubai Mall, which sprawls opposite the planet's tallest skyscraper, Burj Khalifa. Between these two Emaar structures is a man-made lake where the world's largest dancing fountain shoots water 50 stories high.
Dubai, seeking to stimulate its economy, wants to resume several projects that halted after the global credit crunch drove down property values by 65 percent and caused companies to suspend construction of hundreds of developments. Builders in the UAE have aborted about US$757 billion of projects since the crisis, Citigroup said in a report last month.
Meydan City Corp, which built a 60,000-seat horse racing stadium and hotel complex in Dubai, has said it would revive plans for two projects.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
