01 January 2012

DUBAI’S vision as a global maritime hub took another major step forward with the launch of the Dh2.5 billion ($681 million) mixed-use Business District at Dubai Maritime City (DMC).

The project was launched under the patronage of Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai World, at a ceremony on DMC’s 227-hectare man-made peninsula between the Drydocks World and Port Rashid.

In step with the launch, five new projects are to be built in the Business District. They are Swift Development’s Swiftships Towers, which are office high-rises, Iris Mist Hotel Apartments & Residences by Sheth Developers, a budget hotel Kensington Krystal by Kensington Global, Sanali Global’s Sanali Aquamarine Residential Apartments, and a six-star hotel by Dubai Investments Real Estate.

Project mobilisation and commencement of construction is expected towards the end of this year.

The 121-hectare Business District is at the heart of the visionary DMC project and complements the Marine Industrial District Operation inaugurated in March last year under the first of the three-phase development. It will serve as the main business growth engine of DMC, accounting for nearly 90 per cent of its projected total income in 2013. It includes a maritime centre, harbour offices and residences, a marina, an academic quarter and a hotel.

Nineteen well-known developers are being considered to handle the development and sale of the commercial and residential units in the Business District. In addition to the developers mentioned above, they include Al Burj Real estate, Al Faraa Investment, ETA Star Property Developers, Deyaar Development, Mena Capital Investment, Omniyat Properties Eighteen, Vakson Freehold, Meyadeen, Hemen R E D & General Trading, Mohammed Shafar, Das Holding, Damac, Ismail Janahi and Esam Janahi.

The 106-hectare Marine District comprises a total of 96 units of different sizes constructed and already occupied by major maritime companies. Phase Two involves additional infrastructure and capacity work, while Phase Three will see the finalisation of all commercial aspects by 2014.

More offices, shops, showrooms, yacht building yards, warehouses and workshop units will be released on completion.

• DMC unveils $681m Business District
• Indian developer launches first Dubai project
• Grohe secures airport contract
• Jacobs wins Yas Mall deal
• RAK Ceramics renovates Sharjah showroom
• Update
• Mott MacDonald wins key project
• Fibreglass pipe plant goes up at DIC
• Dubai starts major road paving project
• Logistics firm expands facilities at DWC
• Ajman resort plan unveiled
• Waterfront units handed over

Tags

Regional News UAE Focus Events Diary BIM Focus Legally Bound Bahrain Review Industrial Construction Doors & Windows Paints & Coatings Roofing Tenders

Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.