VIDEO: Dubai to launch a new AED5 BILLION district
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has released the plans for a new AED5 billion (US$1.36 billion) business project, Emirates Towers Business Park.
According to international news agency WAM, the development by Dubai Holding will be located between Sheikh Zayed Road and Happiness Street which is close to Dubai International Financial Centre.
Once complete, the project will include three five-star hotels as well as a retail space that will feature a range of international brands and F&B options. It will also include an arena for various events, public parks as well as two covered bridges which will connect pedestrians the Dubai International Financial Centre (DIFC).
Speaking on the development that is a joint venture between DIFC and Dubai Holding, the chairman of Dubai Holding Abdulla Al Habbai said: “This new development reflects the wise and ambitious vision of our leadership and is in line with Dubai’s strategy of developing futuristic projects to meet the growing demand for integrated business districts and advanced legal infrastructure built on international standards of governance and transparency.”
He added: "Emirates Towers Business Park demonstrates Dubai Holding’s commitment to the economic diversification of Dubai and strengthening its attractiveness as a preferred destination for regional and international corporates looking to leverage the wealth of opportunities for growth and expansion.”
The governor of DIFC Essa Kazim proved just as enthusiastic about the project.
“Our collaboration with Dubai Holding is a perfect example of this strategy in action. By extending DIFC’s jurisdiction, the member companies of Emirates Towers Business Park will benefit from the Centre’s robust legal and regulatory framework as well as its world-class infrastructure that supports business growth throughout the MEASA region,” he said.