The government's decision to diversify from an oil-based economy, and to make Dubai the main hub of tourists in the world, has made and other developmental projects such as Dubailand, more valuable, resulting in the property boom from 2004 to 2007. There are over 1,500 major freehold developments and communities in Dubai. Construction on a large scale is a part of Dubai Strategic Plan 2015 unveiled by Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, to maintain economic growth and to put Dubai on the map of the world, and a tourist destination of the world. Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world. There are a number of large-scale projects which are currently under construction or will be constructed in the future. Due to the heavy construction which is taking place in Dubai, 30,000 construction cranes, which is 25% of cranes worldwide, were operating in Dubai in 2012. Currently multibillion-dollar construction projects are taking shape in Dubai.
Great Recession
However, due to the Great Recession, several mega projects were put on hold, including the Palm Islands, Dubailand, the Arabian canal, Dubai Exhibition City, The Lagoons, and Jumeirah Garden City. Apart from this, many supertall skyscrapers have also been put on hold which includes the Pentominium, Burj Al Alam, Marina 106, and Dubai Towers Dubai. Construction on Palm Jebel Ali and The World Islands were expected to be resumed in 2010, however recommencement has been further delayed.67 Construction on other halted projects was thought likely to be resumed in 2011.8
Recovery from the Great Recession
A report published by Forbes on October 22, 2012, says Dubai recovered faster from the Great Recession faster than most other countries and now its economy is growing in a higher rate than its counterparts because of its zero tax policy and economic free zones. The estimated GDP growth rate of Dubai in 2012 was 4.5%.9 The growth was mainly driven by the tourism, commerce and industrial manufacturing sectors.10
According to the UAE's Ministry of Finance, Dubai's government has allocated 32.3 billion dirhams ($8.8 billion) for infrastructure projects in 2012, marking a return to big spending on such projects as some of these projects had been stalled due to lack of funding.11
In November 2012, Sheikh Mohammed bin Rashid Al Maktoum announced fifteen new projects worth more than $187 million.12 These projects are a part of the municipality's 2013 to 2015 strategic plan of Dubai.13
Mixed use developments
| Project | Developer | Expected completion | Costs | Area | Description | |
|---|---|---|---|---|---|---|
| 1 | Dubai Marina | Emaar | Complete | 1.56 km2 (0.60 sq mi) | World's largest man-made marina, with 200 residential and hotel high rises | |
| 2 | Nakheel Properties | Complete | 1.8 km2 (0.69 sq mi) | Comprises 79 high-rises, mostly residential skyscrapers | ||
| 3 | Business Bay | Dubai Properties Group | Complete | AED 110 billion (US$30 billion) | 80 million sq. ft. | Comprises 240 high- and low-rise buildings, mostly residential and mixed-use skyscrapers. |
| 4 | Jumeirah Garden City[A] | Meraas | On hold | AED 350 billion14 | 9 km2 (3.5 sq mi)15 | |
| 5 | Culture Village | Dubai Properties | mid-2016 | 3.71 km2 (1.43 sq mi) | ||
| 6 | Jumeirah Village | Nakheel Properties | 2013 | AED 2.4 million | 8.11 km2 (3.13 sq mi) | |
| 7 | Jebel Ali village | Nakheel Properties | 2013 | 5.20 km2 (2.01 sq mi) | The city is expected to accommodate around 500,000 people. | |
| 8 | Al Maktoum International Airport | Dubai Holding | 2030 | US $80 billion | 1.56 km2 (0.60 sq mi) | Upon completion it will be the largest airport in the world.16 |
| 9 | Dubai Creek Harbour | Emaar | late 2020 | 70 km2 (27 sq mi) | ||
| 10 | Dubai The Sustainable City | Diamond Developers | Complete | 46 hectare | The first net zero energy city in Dubai17 | |
| 11 | Dubai Investment Park | Incomplete | 2,300 hectares18 | Includes the Lagoons, under development by Schön Properties since 2005; Schön's assets were seized by the Dubai Real Estate Regulatory Agency in August 2018 over the company's failure to complete the development.19 |
Other projects
| Project | Developer | Expected completion | Costs | Area | Description | |
|---|---|---|---|---|---|---|
| 1 | Dubailand[C] | Dubai Holding | Partially under construction, 2020 | US$64.3 billion | 278 km2 (107 sq mi) | Dubailand will be the world's largest retail and entertainment world, twice the size of Walt Disney World Resort. It includes 45 mega projects and 200 sub-projects. Currently, there are 22 projects under construction; 6 are complete.20 |
| 2 | Arabian Canal[A] | Limitless | Halted temporarily | US$50 billion | 75 km long | This will be the world's largest man-made canal. Construction work on Phase 1 of Arabian Canal is currently in progress, but construction on much of the Arabian Canal is currently halted. |
| 3 | Jumeirah Garden City | Meraas | Halted | US$95 billion | 9,000,000-square-metre | Jumeirah Garden City will be built across an area north of Sheikh Zayed Road between Diyafa Street and Safa Park.21 |
| 4 | Dubai International City | Nakheel Properties | Complete | US$95 billion | 8.2 km2 (3.2 sq mi) | Dubai International city is a country-themed architecture of residences, businesses, and tourist attractions.22 |
| 5 | Dubai Exhibition City[A] | On hold | AED 8 billion | 280,000 m2 | Dubai Exhibition City upon completion will home to the world's longest single column-free exhibition hall.23 | |
| 6 | Dubai Meydan City | Partially complete | AED 8 billion | 3,700,000 m2 | The development includes Meydan Racecourse hotels, sky-bubble restaurant, entertainment, clubs, a concourse plaza, towers and a boat-house. | |
| 7 | Mohammed bin Rashid City | Partially complete | AED 8 billion | 800 million sq ft | The development includes Meydan Racecourse hotels, sky-bubble restaurant, entertainment, clubs, a concourse plaza, towers and a boat-house. | |
| 8 | Al Sufouh Tramway | Dubai Roads and Transport Authority (RTA) | November 2014 | AED 3.18 billion | 14.5 kilometers (9.0 mi) long | Al Sufouh Tramway is a tramway being built in Al Sufouh, Dubai. It will run along Al Sufouh Road from Dubai Marina to the Burj Al Arab and the Mall of the Emirates.24 |
| 9 | Dubai Frame | Complete | AED 160 Million | 150-metre-high, 93-metre-wide | Dubai Frame is a tourist attraction built near the Star Gate of Zabeel Park.25 | |
| 10 | Arabian Ranches26 | Emaar Properties | Complete | Arabian Ranches is a premium gated community located on Sheikh Mohammad bin Zayed Road and in proximity to Dubai's Global Village.27 It includes the Arabian Ranches Golf Club and Dubai Equestrian & Polo Club. |
[ Canada business tower in Dubai ]
Artificial reclaimed islands developments
| Project | Developer | Expected completion | Costs | Area | Description | |
|---|---|---|---|---|---|---|
| 1 | Palm Jumeirah | Nakheel Properties | Complete | $12.3 billion | It is the world's largest man-made island. | |
| 2 | Palm Jebel Ali[A] | Nakheel Properties | Ongoing | It will accommodate over 250,000 people by 2020.2829 Construction resumed in 2023.30 | ||
| 3 | Dubai Islands[A] | Nakheel Properties | scaled down, no official opening date announced | 12.5 km2 (4.8 sq mi) by 7.5 km2 (2.9 sq mi) | Will be the largest palm island in Dubai. | |
| 4 | The Universe[B] | Nakheel Properties | On hold | 30 km2 (12 sq mi) | ||
| 5 | The World Islands[A] | Nakheel Properties | complete, but most islands are still unoccupied | $14 billion | 9 km (5.6 mi) and 6 km2 (2.3 sq mi) width | |
| 6 | Dubai Waterfront[A] | Nakheel Properties | On hold | 130 km2 (50 sq mi) | The Dubai Waterfront is expected to become the largest waterfront and largest man-made development in the world. | |
| 7 | Skydive Dubai | Nakheel Properties | 2012 | 1.06 km2 (0.41 sq mi) | ||
| 8 | Dubai Maritime City[A] | Dubai Holding | Complete | AED 3 billion | 2.27 km2 (0.88 sq mi) | It will be the world's first purpose-built maritime centre. |
| 9 | Jumeirah Garden City[A] | Meraas | 2013 | AED 350 billion 31 | 9 km2 (3.5 sq mi) | Some portion of this development is being reclaimed off the coast near Jumeirah. |
| 10 | Bluewaters Island[D] | Meraas | 2018 | AED 6 billion | Announced on February 13, 2013. the Ain Dubai (formerly the Dubai Eye) giant Ferris wheel will be built on this island. Construction is almost finished.32 | |
| 11 | Dubai Harbour | Meraas | 2020 | AED 8 billion | 135 km2 (52 sq mi) | Announced on January 2, 2017. Palm Jumeirah Logo Island Construction Dubai Harbour and Emaar Beachfront by Emaar. |
| 12 | The Island by Was] | Wasl Asset Management Group | 2021 | AED 10 billion | Announced in March 2017. Porto Dubai cancelled construction Jumeirah Beach MGM Resort, Bellagio Hotel 1,000 rooms and 500,000 square. |
Bridges
| Project | Developer | Expected completion | Costs | Length | Description | |
|---|---|---|---|---|---|---|
| 1 | Sheikh Rashid bin Saeed Crossing | Dubai Roads and Transport Authority | 75% completed as of 2022 | 2.5 billion dirhams | 1.6 km (0.99 mi) | It will be the world's longest arch bridge. |
| 2 | Al Ittihad Bridge | Dubai Roads and Transport Authority | Completed in 2012 | 810 million dirhams | 300 meters |
See also
- Dubai Real Estate Regulatory Agency
- List of buildings in Dubai
- List of hotels in Dubai
- List of shopping malls in Dubai
- Tourist attractions in Dubai
External links
- Mall of the World: World's First Temperature Controlled City - Dubai announced Mall of the World project on June 5, 2014.
- Dubai e visa online:
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