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Dubai Holding, the global investment holding company, announced new developments at Cityscape Global 2014, which runs until today at Dubai World Trade Centre. Joining Dubai Holding in its pavilion are Dubai Properties (DP), its real estate development arm, and Tecom Investments, the real estate master developer and operator of Dubai’s leading business parks.
Ahmad Bin Byat, Chief Executive Officer of Dubai Holding, said: “This is the first time that Dubai Holding has a consolidated presence with its companies at Cityscape Global, demonstrating the scale of projects underway and our contribution to the development of Dubai’s economic diversification strategy. Most recently, we announced the launch of Mall of the World, set to become the largest temperature-controlled pedestrian city with mixed-use components in the world. This development, along with other projects announced by Dubai Properties and Tecom Investments aim to meet the aspirations of Dubai Vision 2020 and strengthen the Emirate’s positioning as a global hub for investment, tourism and business.”
Here’s an overview of the key projects on display.
Mall of the World
Mall of the World, which will be located along Shaikh Zayed Road in Dubai, will occupy 48 million sq ft. The project will comprise the largest indoor theme park in the world. It will also house the world’s largest mall with an area of eight million sqft. Additional districts within the project will include a dedicated zone catering to medical tourists, a cultural celebration district as well as a wide range of hospitality options.
Culture Village is a DP venture and will be the city’s first creek-side destination with residential, commercial, retail, entertainment and cultural components. Manazel Al Khor, a residential development overlooking Dubai Creek in Culture Village, features Emirati-influenced architectural elements and contemporary design.
DP also launched a mixed-use project in Culture Village at Cityscape Global.
Remraam is a DP community in Dubailand featuring a mix of low- and high-rise residential buildings in neighborhoods that offer studio, one-, two- and three-bedroom apartments.
DP will also feature its gated Mudon Community on the stand. Set among green parkland, the development has proven a popular family community for investors in the villa segment.
Dubai Design District (d3)
Tecom Investment’s newest free zone, d3, is dedicated to the emirate’s design, fashion, art and luxury industries. Phase one of the project comprises ten buildings for which construction is underway and scheduled for completion next year. Tecom is investing Dh4 billion for the first phase.
Villa Lantana, the freehold villa community launched by Tecom Investments in August, is located in Al Barsha South. Construction is currently underway and scheduled for completion in the fourth quarter of next year. The development is spread across two landscaped gated communities, which comprise 440 homes, a retail centre, parks and playgrounds, as well as sports facilities.
Source: Property Weekly