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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 and communities in Dubai.[1] Construction on a large scale is a part of Dubai Strategic Plan 2015[2] 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.[3] Construction on a 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 2012.[4] Currently multibillion-dollar construction projects are taking shape in Dubai.

Global financial crisis of 2008–2009

However, due to the 2007–2008 financial crisis, 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.[5][6] Construction on other halted projects was thought likely to be resumed in 2011.[7]

Recovery from global financial crisis

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%.[8] The growth was mainly driven by the tourism, commerce and industrial manufacturing sectors.[9]

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.[10]

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.[11]

Mixed use developments

Dubai Marina
Jumeirah Lake Towers under construction in 2007
Project Developer Expected completion Costs Area Description
1 Dubai Marina Emaar Complete 1.56 km2 (0.60 sq mi) World's largest man-made marina, with 200 residential and hotel high rises
2 Nakheel Properties Complete 1.8 km2 (0.69 sq mi) Comprises 79 high-rises, mostly residential skyscrapers
3 Business Bay Dubai Properties Group Complete AED 110 billion (US$30 billion) 80 million sq. ft. Comprises 240 high- and low-rise buildings, mostly residential and mixed-use skyscrapers.
4 Jumeirah Garden City[A] Meraas On hold AED 350 billion[12] 9 km2 (3.5 sq mi)[13]
5 Culture Village Dubai Properties mid-2016 3.71 km2 (1.43 sq mi)
6 Jumeirah Village Nakheel Properties 2013 AED 2.4 million 8.11 km2 (3.13 sq mi)
7 Jebel Ali village Nakheel Properties 2013 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 1.56 km2 (0.60 sq mi) Upon completion it will be the largest airport in the world.[14]
9 Dubai Creek Harbour Emaar late 2020 70 km2 (27 sq mi)
10 Dubai The Sustainable City Diamond Developers Complete 46 hectare The first net zero energy city in Dubai[15]
11 Dubai Investment Park Incomplete 2,300 hectares[16] Includes the Lagoons, under development by Schön Properties since 2005; Schön's assets were seized by the Dubai Real Estate Regulatory Agency in August 2018 over the company's failure to complete the development.[17]

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 278 km2 (107 sq mi) Dubailand will be the world's largest retail and entertainment world, twice the size of Walt Disney World Resort. It includes 45 mega projects and 200 sub-projects. Currently, there are 22 projects under construction; 6 are complete.[18]
2 Arabian Canal[A] Limitless Halted temporarily US$50 billion 75 km long This will be the world's largest man-made canal. Construction work on Phase 1 of Arabian Canal is currently in progress, but construction on much of the Arabian Canal is currently halted.
3 Jumeirah Garden City Meraas Halted 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.[13]
4 Dubai International City Nakheel Properties Complete US$95 billion 8.2 km2 (3.2 sq mi) Dubai International city is a country-themed architecture of residences, businesses, and tourist attractions.[19]
5 Dubai Exhibition City[A] On hold AED 8 billion 280,000 m2 Dubai Exhibition City upon completion will home to the world's longest single column-free exhibition hall.[20]
6 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.
7 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.
8 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.[21]
9 Dubai Frame Complete AED 160 Million 150-metre-high, 93-metre-wide Dubai Frame is a tourist attraction built near the Star Gate of Zabeel Park.[22]
10 Arabian Ranches[23] Emaar Properties Complete Arabian Ranches is a premium gated community located on Sheikh Mohammad bin Zayed Road and in proximity to Dubai's Global Village.[24] It includes the Arabian Ranches Golf Club and Dubai Equestrian & Polo Club.

[ Canada business tower in Dubai ]

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 Temporarily on hold It will accommodate over 250,000 people by 2020.[25][26] Construction will be resumed in the coming months.[when?][6]
3 Deira Islands[A] Nakheel Properties scaled down, 2020 12.5 km2 (4.8 sq mi) by 7.5 km2 (2.9 sq mi) Will be the largest palm island in Dubai.
4 The Universe[B] Nakheel Properties On hold 30 km2 (12 sq mi)
5 The World Islands[A] Nakheel Properties complete, but most islands are still unoccupied $14 billion 9 km (5.6 mi) and 6 km2 (2.3 sq mi) width
6 Dubai Waterfront[A] Nakheel Properties On hold 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 1.06 km2 (0.41 sq mi)
8 Dubai Maritime City[A] Dubai Holding Complete AED 3 billion 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 [12] 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. the Ain Dubai (formerly the Dubai Eye) giant Ferris wheel will be built on this island. Construction is almost finished.[27]
11 Dubai Harbour Meraas 2020 AED 8 billion 135 km2 (52 sq mi) Announced on January 2, 2017. Palm Jumeirah Logo Island Construction Dubai Harbour and Emaar Beachfront by Emaar.
12 The Island by Wasl Wasl Asset Management Group 2021 AED 10 billion Announced in March 2017. Porto Dubai cancelled construction Jumeirah Beach MGM Resort, Bellagio Hotel 1,000 rooms and 500,000 square.

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 2015 2.5 billion dirhams 1.6 km (0.99 mi) It will be the world's longest arch bridge.
2 Al Ittihad Bridge Dubai Roads and Transport Authority 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

  1. ^ "Real Estate Projects in Dubai". Lookup.ae. 2015-03-26. Retrieved 2015-03-26.
  2. ^ "Dubai Strategic Plan 2015 pdf" (PDF).
  3. ^ "H.H. Sheikh Mohammad unveils highlights of Dubai Strategic Plan (2015) - Dubai...Where the Future Begins | Dubai Strategic Plan 2015". AMEinfo.com. 2007-02-26. Retrieved 2011-12-13.
  4. ^ "gulfnews : Dubai has 30,000 construction cranes". Archive.gulfnews.com. 2006-06-18. Archived from the original on 2009-02-02. Retrieved 2011-12-13.
  5. ^ Spencer, Richard (17 December 2009). "Dubai: Developer says work to resume on The World islands". The Daily Telegraph. London. Retrieved 8 May 2010.
  6. ^ a b Sarah Blackman. "Palm Jebel Ali enabling works to be awarded soon". ConstructionWeekOnline.com. Retrieved 2011-12-13.
  7. ^ "Saudi's Tanmiyat to resume UAE developments in 2010 - The National". Thenational.ae. Retrieved 2011-12-13.
  8. ^ "Dubai has recovered faster because of zero tax economic free zones". Forbes.com. Retrieved 30 March 2013.
  9. ^ "Dubai growth is mainly driven by the tourism". Al-shorfa.com. Retrieved 30 March 2013.
  10. ^ "المشارق".
  11. ^ "Dubai Ruler approves $187mn in projects - Big Project Middle East". Archived from the original on 2013-06-28. Retrieved 2013-02-15.
  12. ^ a b "Meraas Development launched Dh350 Billion Jumeirah Gardens". Dubaichronicle.com. 2008-10-07. Archived from the original on 2009-02-16. Retrieved 2011-12-13.
  13. ^ a b "Meraas cuts back Jumeira Gardens - The National". 4 March 2009.
  14. ^ "Al Maktoum International Airport". Zawya.com. 30 March 2013.
  15. ^ "The Sustainable City, Dubai « 2016 UNEP FI Global Roundtable". www.unepfi.org. Retrieved 2017-06-01.
  16. ^ Fahy, Michael: DIP-based companies reach 4,600 as investors take advantage of park’s proximity to Expo 2020 site, July 31, 2016, The National
  17. ^ Badam, Ramola Talwar (August 2, 2018). "Schon property and funds seized over failure to deliver Dubai Lagoon development". The National.
  18. ^ "Dubailand". Dubailand.ae. Archived from the original on 27 May 2008. Retrieved 30 March 2013.
  19. ^ "Nakheel - Where Vision Inspires Humanity". Archived from the original on 2017-07-02. Retrieved 2013-02-16.
  20. ^ "Samsung to build $354mn Dubai exhibition hall". Archived from the original on 2010-07-23. Retrieved 2014-01-05.
  21. ^ gulfnews.com/news/gulf/uae/traffic-transport/dubai-s-first-tram-project-taking-shape-in-al-sufouh-1.47163
  22. ^ "Dubai Frame". tumblr.com. Retrieved 7 May 2014.
  23. ^ "Arabian Ranches".
  24. ^ "Arabian Ranches Villas & Townhouses, Dubai". Lookup.ae – Real Estate. Real Information. Retrieved 2018-05-07.
  25. ^ "Palm Jebel Ali enabling works to be awarded soon - progress update". Constructionweekonline. 4 October 2007. Retrieved 2007-10-28.
  26. ^ Blackman, Sarah. "Palm Jebel Ali enabling works to be awarded soon - ConstructionWeekOnline.com".
  27. ^ "Dh6b tourism project in Dubai unveiled". Gulf News. 13 February 2013.

External links

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