The government's decision to diversify from an oil-based economy, and to make Dubai the main hub of tourists in the world, has made and other developmental projects such as Dubailand, more valuable, resulting in the property boom from 2004 to 2007. There are over 1,500 major freehold developments & communities in Dubai.[1] Construction on large scale is a part of Dubai Strategic Plan 2015 unveiled by Mohammed bin Rashid Al Maktoum, the ruler of Dubai, to maintain economic growth and to put Dubai on the map of the world, and a tourist destination of the world.[2] Construction on large scale has turned Dubai into one of the fastest-growing cities in the world. There are a number of large-scale projects which are currently under construction or will be constructed in the future. Due to the heavy construction which is taking place in Dubai, 30,000 construction cranes, which is 25% of cranes worldwide, were operating in Dubai in 2006.[3] Currently multibillion-dollar construction projects are taking shape in Dubai.
Global financial crisis of 2008–2009
However, due to the Global financial crisis of 2008–2009, several mega projects had been put on hold, including Palm Islands, Dubailand, the Arabian canal, Dubai Exhibition City, The Lagoons, Jumeirah Garden City. Apart from this many supertall skyscrapers have also been put on hold that includes Pentominium, Burj Al Alam, Marina 106, and Dubai Towers Dubai. Construction on Palm Jebel Ali and The world islands were expected to be resumed in 2010, however recommencement has been further delayed.[4][5] Construction on other halted projects is likely to be resumed in 2011.[6]
Recovery from global financial crisis
In a report published by Forbes on October 22, 2012, says Dubai has recovered faster from the financial crisis than most other countries and now its economy is growing in a higher rate than its counterparts because of its zero tax policy and economic free zones. The estimated GDP growth rate of Dubai in 2012 was 4.5%.[7] The growth was mainly driven by the tourism, commerce and industrial manufacturing sectors.[8]
According to the UAE's Ministry of Finance, Dubai's government has allocated 32.3 billion dirhams ($8.8 billion) for infrastructure projects in 2012, marking a return to big spending on such projects as some of these projects had been stalled due to lack of funding.[9]
In November 2012, Sheikh Mohammed bin Rashid Al Maktoum announced fifteen new projects worth more than $187 million. These projects are a part of the municipality’s 2013 to 2015 strategic plan of Dubai.[10]
Mixed use developments
Dubai Marina
Jumeirah Lake Towers under construction in 2007
| | Project | Developer | Expected completion | Costs | Area | Description |
| 1 |
Dubai Marina | Emaar | Complete | | 7006156000000000000♠1.56 km2 (0.60 sq mi) | World's largest man-made marina, with 200 residential and hotel high rises |
| 2 |
Nakheel Properties | | Complete | | 7006180000000000000♠1.8 km2 (0.69 sq mi) | Comprises 79 high-rises, mostly residential skyscrapers. |
| 3 |
Business Bay | Dubai Properties Group | Complete | AED110 billion (US$30 billion) | 80 million sq. ft. | Comprises 240 high- and low-rise buildings, mostly residential and mixed-use skyscrapers.[11] |
| 4 |
Jumeirah Garden City[A] | Meraas | On-Hold | 7006900000000000000♠9 km2 (3.5 sq mi) | [12] | AED350 billion [13] |
| 5 |
Culture Village | Dubai Properties | mid-2016 | | 7006371000000000000♠3.71 km2 (1.43 sq mi) | |
| 6 |
Jumeirah Village | Nakheel Properties | 2013 | AED 2.4 million | 7006810999999999999♠8.11 km2 (3.13 sq mi) | |
| 7 |
Jebel Ali village | Nakheel Properties | 2013 | | 7006520000000000000♠5.20 km2 (2.01 sq mi) | The city is expected to accommodate around 500,000 people. |
| 8 |
Al Maktoum International Airport | Dubai Holding | Fully operational in 2025 | US$$80 billion. | 7006156000000000000♠1.56 km2 (0.60 sq mi) | Upon completion it will be the fourth largest airport in the world.[14] |
| 9 |
The Lagoons[A] | Sama Dubai, Emaar | late 2015 | US$25 billion | 7007700000000000000♠70 km2 (27 sq mi) | |
Other projects
Business Bay in 2012
Skyline of Business Bay, Dubai as seen from Safa Park
| | Project | Developer | Expected completion | Costs | Area | Description |
| 1 |
Dubailand[C] | Dubai Holding | Partially under Construction, 2020 | US$64.3 Billion | 7008278000000000000♠278 km2 (107 sq mi) | Dubailand will be world's largest Retail and Entertainment World, twice the size of Walt Disney World Resort, it include 45 mega projects and 200 sub projects. Currently, there are currently 22 projects under construction, 6 are complete.[15] |
| 2 |
Arabian Canal[A] | Limitless | Halted temporarily | US$50 Billion | 75 km long | Will be world's largest man-made canal, Construction work on Phase 1 of Arabian Canal is currently in progress, however construction on much of the Arabian Canal is currently halted. |
| 3 |
Dubai Creek extension | Limitless | 2015 | AED 1.5 Billion | 26.2 km long extension | In September 2007, a Dhs. 484 million (US$132 million) extension of the creek was finished, which now ends just south of the Metropolitan Hotel on Shaikh Zayed Road. A final 2.2-kilometre extension will cross Shaikh Zayed Road.[16][17] |
| 4 |
Jumeirah Garden City | Meraas | 2021 | US$95 Billion | 9,000,000-square-metre | Jumeirah Garden City will be built across an area north of Sheikh Zayed Road between Diyafa Street and Safa Park.[12] |
| 5 |
Dubai International City | Nakheel Properties | Complete | US$95 Billion | 7006819999999999999♠8.2 km2 (3.2 sq mi) | Dubai International city is a country-themed architecture of residences, business, and tourist attractions.[18] |
| 6 |
Dubai Exhibition City[A] | | On-Hold | AED 8 Billion | 280,000 m2 | Dubai exhibition city upon completion will home to world's longest single column-free exhibition hall in the world.[19] |
| 7 |
Dubai Meydan City | | Partially Complete | AED 8 Billion | 3,700,000 m2 | The development includes, Meydan Racecourse hotels, sky-bubble restaurant, entertainment, clubs, a concourse plaza, towers and a boat-house. |
| 8 |
Mohammed bin Rashid City | | Partially Complete | AED 8 Billion | 800 million Sq ft | The development includes, Meydan Racecourse hotels, sky-bubble restaurant, entertainment, clubs, a concourse plaza, towers and a boat-house. |
| 9 |
Al Sufouh Tramway | Dubai Roads and Transport Authority (RTA) | November 2014 | AED 3.18 Billion | 14.5 kilometers (9.0 mi) long | Al Sufouh Tramway is a tramway being built in Al Sufouh, Dubai. It will run along Al Sufouh Road from Dubai Marina to the Burj Al Arab and the Mall of the Emirates.[20] |
| 10 |
Dubai Frame | | second half of 2015 | AED 160 Million | 150-metre-high, 93-metre-wide | Dubai frame is upcoming project of Dubai tourism will build in near the Star Gate of Zabeel Park.[21] |
Artificial reclaimed islands developments
Aerial view of Palm Jumeirah
The World Islands in 2010
| | Project | Developer | Expected completion | Costs | Area | Description |
| 1 |
Palm Jumeirah | Nakheel Properties | Complete | $12.3 billion | | It is the world's largest man-made island. |
| 2 |
Palm Jebel Ali[A] | Nakheel Properties | Complete | | | Will accommodate over 250,000 people by 2020.[22][23] Construction will be resumed in coming months[5] |
| 3 |
Deira Islands[A] | Nakheel Properties | scaled down, 2017 | | 7007125000000000000♠12.5 km2 (4.8 sq mi) by 7006750000000000000♠7.5 km2 (2.9 sq mi) | Will be the largest palm island, in Dubai. |
| 4 |
The Universe[B] | Nakheel Properties | On hold | 7007300000000000000♠30 km2 (12 sq mi) | |
| 5 |
The World Islands[A] | Nakheel Properties | complete | $14 billion | 7003900000000000000♠9 km (5.6 mi) and 7006600000000000000♠6 km2 (2.3 sq mi) width | |
| 6 |
Dubai Waterfront[A] | Nakheel Properties | 2020 | | 7008130000000000000♠130 km2 (50 sq mi) | The Dubai Waterfront is expected to become the largest waterfront and largest man-made development in the world. |
| 7 |
Skydive Dubai | Nakheel Properties | 2012 | | 7006106000000000000♠1.06 km2 (0.41 sq mi) | |
| 8 |
Dubai Maritime City[A] | Dubai Holding | complete | AED 3 billion | 7006227000000000000♠2.27 km2 (0.88 sq mi) | It will be the world's first purpose-built maritime centre |
| 9 |
Jumeirah Garden City[A] | Meraas | 2013 | AED 350 billion [13] | 7006900000000000000♠9 km2 (3.5 sq mi) | Some portion of this development is being reclaimed off the coast near jumeirah |
| 10 |
Bluewaters Island[D] | Meraas | 2018 | AED 6 billion | | Announced on February 13, 2013. Dubai Eye giant Ferris wheel will be built on this island.[24] |
Bridges
The site office and showroom, Dubailand sales center, March 7, 2006
| | Project | Developer | Expected completion | Costs | Length | Description |
| 1 |
Sheikh Rashid bin Saeed Crossing | Dubai Roads and Transport Authority (RTA) | 2015 | 2.5 billion dirhams | 7003160000000000000♠1.6 km (0.99 mi) | It will be the world's longest arch bridge |
| 2 |
Dubai smile | Dubai Roads and Transport Authority (RTA) | completed in 2012 | 810 million dirhams | 300 meters | |
- Notes
- A. ^ Construction is currently on-hold due to lack of finances.
- B. ^ Project is currently in planning stages.
- C. ^ Only 22 out of 200 sub projects of Dubailand are under construction.
- D. ^ Approved, construction will start in April, 2013.
See also
References
Akoya Oxygen
External links
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