UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has given the go-ahead for a number of ambitious development projects.
Sheikh Mohammed was briefed on the design concepts and architectural master plans of the projects by the Investment Corporation of Dubai (ICD) over the coming three years.
Sheikh Mohammed was briefed on the design concepts and architectural master plans of the projects by the Director of Dubai Ruler’s Court and ICD CEO Mohammed Ibrahim Al Shaibani and a team of engineers during a special demonstration at the Atlantis – Palm Dubai Hotel and Resort.
Sheikh Mohammed gave directives that the projects be fully implemented by 2018.
Consisting of 800 rooms, suites and 250 luxurious hotel apartments, the Royal Atlantis Resort on the Palm, Dubai will cost approximately US$1.5 billion. The project will also house recreational, entertainment and services facilities built to the highest international standards.
In his briefing, Al Shaibani said the first phase of the AED8-billion Dubai Waterfront mixed-use project is expected to be completed by end of 2016. The first three phases of the project will spread on an area of approximately 820,000 square metres and will include parking lots for 6,000 vehicles.
Sheikh Mohammed was also briefed on the One Za’abeel project which will be located between the Dubai World Trade Centre and Za’abeel Park and will consist of two towers (residential and commercial) linked by a suspended bridge. One Za’abeel will have an approximate cost tag of AED2.5 billion and will include 550 residential units, two hotels and 130 hotel apartments.