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Friday, November 13 - 2009

Dubai World Central Real Estate goes international

  • United Arab Emirates: Saturday, October 27 - 2007 at 12:00
  • PRESS RELEASE

Dubai World Central (DWC) - the 140 square kilometre urban land development under construction in Jebel Ali - is expanding its geographic footprint through real estate and property sales at Kuwait's leading property event, Kuwait Property Exhibition (KUPEX), being held in Kuwait City from 29 October until 1 November.

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This is the first time ever that DWC is targeting potential realty investors outside its home base in the United Arab Emirates.

"Dubai World Central's real estate offerings in Dubai are unique with easy access to an aviation and logistics infrastructure that is truly world-class with all possible civic and leisure amenities within a radius of 10 kilometres," said Khalid bin Harib, CEO, Real Estate, Dubai World Central.

"DWC's three real estate components - DWC Residential City, DWC Commercial City and DWC Golf City - offer a complete range of property choice, from the most affordable to the premium segments.

"KUPEX offers us a great opportunity to target urban developers, potential investors, suppliers and agents we expect to generate substantial interest and sales for all of DWC's components during the show."

Being built alongside Dubai World Central International Airport (JXB) - set to be the world's largest - and the world's first truly multi-modal integrated logistics platform - Dubai Logistics City (DLC), DWC Real Estate is one of Dubai's most important urban land development projects ever.

"Due to its sheer size and scope DWC property sales will not be limited only to the GCC, with offerings planned on a global scale in the near future," explained Abdulla Al Falasi, DWC's Director for Marketing and Corporate Communications.

"Demand for property in the UAE, and specifically at Dubai World Central, is high. Investors are keen to know more about its value proposition, something they will be able to do during KUPEX and other exhibitions in the future. Our aim is to target key investors at international events, in turn raising the profile of both DWC and Dubai as the region's central business hub."

Dubai World Central recently launched the DWC Commercial City masterplan, set to be the business and commercial capital of DWC, along with the Staff Villages at DLC and DWC Residential City. Nearly a million people are eventually expected to live and work at DWC.
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Notes and media contacts

About Dubai World Central

Dubai World Central (DWC) is a 140 square kilometre urban aviation community centred around the world's largest international airport. Currently being built 40 kilometres from the existing Dubai International Airport the project is almost twice the size of Hong Kong Island.

DWC creates a new benchmark in urban planning and destination living designed to support Dubai's aviation, tourism, commercial and logistics requirements until 2050 and represents one of the most important developments in the history of the United Arab Emirates.

Eventually home to 900,000 people, DWC will be true 'city-within-a-city' with all the amenities that make up a world-class residential destination.

DWC, with infrastructure costs estimated at US $33 billion, comprises six specialized clustered zones: Dubai World Central International Airport (JXB), Dubai Logistics City (DLC), DWC Commercial City, DWC Residential City, DWC Aviation City and DWC Golf City.

DWC is endorsed by the Government of Dubai and is chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Aviation Corporation - Dubai World Central, Government of Dubai.

About Dubai World Central components:

JXB, when completed, will be the world's biggest passenger and cargo hub, with a capacity of 120 million passengers and more than 12 million tonnes of cargo annually. The airport will have six parallel runways and as many concourses with a 91 metre high control tower that will be an aviation landmark in the Middle East.

DLC will be part of the world's first truly integrated multi-modal logistics platform in a single-bonded free zone environment made up of DLC, JXB, Aviation City and Jebel Ali Port. It is designed as the region's unchallenged logistics hub catering to some two billion people throughout the Middle East, Indian Sub-continent, Africa and the CIS, all within three-to-four hours flying time from Dubai.

DWC Commercial City will be DWC's business and finance hub featuring more than 850 towers, ranging from 6-75 storeys in height. The city, expected to employ 130,000 people, will also boast 25 hotels ranging from deluxe, through to five-star, four-star and three-star properties.

DWC Residential City will include a mix of five-ten storey mid-cost apartment blocks. Up to 250,000 people are expected to live in this 'city'. A special staff village will house blue-collar workers within high-quality accommodation.

DWC Golf City will feature two 18-hole golf courses, extensive practice facilities, driving ranges, putting greens, a luxury clubhouse with restaurants and a pro-shop. More than 5,000 freehold homes will surround the courses. The resort will also feature a high-end boutique hotel.

DWC Aviation City will be the region's premier centre of excellence for technology manufacturing and science and technology education.

For more information please contact:

MCS/Action
PO Box 20970
Dubai, United Arab Emirates

Gladson Ronad
Tel: +9714 390 2960
Fax: +9714 390 8161
Mob: +971 50 4533479

or

Fouad Kassem
Tel: +9714 390 2960
Fax: +9714 390 8161
Mob: +971 50 6324150

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