Dubailand initial investments totalling AED 15 billion for 11 projects

More than half of these projects are under construction and estimated for completion before scheduled time.

Salem bin Dasmal, Chief Executive Officer of Dubailand said, "There are at present 30 projects of different sizes under consideration with some nearing completion and we expect to announce another four new projects by the end of the year. At this stage we are working on the construction of the Sales Centre which will start operating before the end of March 2005."

Bin Dasmal expects that by the end of 2007 approximately six to seven mega projects will be ready in Dubailand. He said that this is a great accomplishment which has been possible because of the vision of H.H. General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence who aims to make Dubailand, the Orlando of the Middle East.

He added, "The initial studies for the Dubailand projected that the main objective of the project is to attract AED 18 Billion in investments by 2010. But due to the market changes and the rapid economic development of UAE we now expect Dubailand to attract AED 35 Billion in investments."

Under Dubai Holding, Dubailand will further benefit from the technology and marketing support as well as the exchange of information with other member companies. Commenting of any changes in the Dubailand strategy after coming under the Dubai Holding he said, "There will be no major change in policy but our strategy will be tailored in line with the overall strategy of Dubai Holding and towards ensuring the success the project."

He added, "Dubailand is currently studying plans for attracting foreign investments after its success in attracting the regional investments. Attracting the foreign investors in will be as per the same approach that was adopted in attracting regional investors and we will be organizing promotional road shows in Europe and North America for the purpose. We will also be working with a number of experts to benefit from their experience in similar projects."

One of the biggest projects under construction in Dubailand is the Dubai Sports City as well as the Global Village which will be ready by January 2005 to host the Dubai Shopping Festival. Another project under construction is the Polo and Equestrian World. Contracts have been signed to build the Theme Park and Dubai Aqua Park as well as other projects which will be under construction. The construction of The Legends will also start very soon.