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DWC'S retail districts to be launched in 2009
- United Arab Emirates: Thursday, February 14 - 2008 at 10:39
- PRESS RELEASE
Dubai World Central (DWC) - the upcoming 140 square kilometre city-within-a-city in Jebel Ali, United Arab Emirates - will launch its retail district plans within DWC Residential City, DWC Commercial City and DWC Golf City in 2009.
"DWC's real estate components cover nearly 40 square kilometres of which at least 20% will translate into retail units," said Khalid bin Harib, CEO, Real Estate, Dubai World Central. "This will add at least 40% to the existing number of retail outlets in Dubai's shopping malls which today stand at 3,500.
"The GCC retail market which is worth upwards of $50bon today is constantly evolving and through the formation of DWC's retail districts, catering to an eventual population of nearly a million people, we will revolutionise the way the retail market operates. Malls in Dubai currently see over 140 million footfalls annually.
"BurJuman has been instrumental in enhancing Dubai's prestigious retail centres and DWC will benefit from its experience in introducing new brands to the market."
BurJuman is one of the oldest malls in Dubai with over 800,000 square feet of gross leasable area (GLA) and a total retail size of 2.8 million square feet.
"DWC and BurJuman are an integral part of a booming economy, joining hands to usher in an innovative retail experience to a brand new city, set to be at the heart of new Dubai," said Eisa Adam Ibrahim, General Manager of BurJuman. "Given the tremendous amount of retail developments currently underway throughout the GCC, the region's GLA is expected to go just over 16 million square metres by 2010 - by which time DWC will contribute a significant percentage."
Currently, grading work has been completed on DWC Residential City's first two phases with construction expected to commence this month.
DWC provides for mid-income housing at DWC Residential City while DWC Commercial City will have a mixed-use development. DWC Golf City is being designed for premium living with all DWC residents having access to the best amenities being developed by Dubai World Central.
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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: Al Maktoum International Airport, 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 City of Aviation Corporation - Dubai World Central, Government of Dubai.
About Dubai World Central components:
Al Maktoum International Airport 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.
Dubai Logistics City (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 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 Aviation City will be the region's premier centre of excellence for aviation manufacturing, MRO, aviation support services and consultancy, research and development, training, aviation products and parts and high tech industries. It is a unique concept to establish a complete aviation cluster in one area to cater to the region's aviation growth. It is strategically located to provide clients access to emerging markets as well as servicing the fast growing Middle East market.
DWC Commercial City will be DWC's business and finance hub featuring more than 850 towers, ranging from 1 - 45 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. Over 5,000 freehold homes will surround the courses. The resort will also feature a high-end boutique hotel.
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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