New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
Shaikh Hamdan, accompanied by Qassim Sultan, Director General of Dubai Municipality, several departmental heads from the civic body, and senior government officials inspected the highway after the inauguration.
The road links Al Awir Road with the Dubai-Al Ain Highway, and was constructed in continuation of the Dh60 million first phase of the project, which links areas on the Northern borders of Dubai with Al Awir Road.
Speaking to reporters Shaikh Hamdan noted that the road will serve most of the University City, an area expected to witness increased vehicular traffic in the near future. Remote areas of the emirate of Dubai will also benefit from the new road, which, he added, would have special desert plants used in its landscaping and beautification. Answering a question on the municipality's budget for projects this year, Shaikh Hamdan said that it is yet to be presented to him for approval.
Mr Sultan, talking to f+iKhaleej Timesf-i said: "In future, the interchange at Al Ruwayah will be expanded to accommodate the growing traffic in the area. Also, the expressway linking Dhaid Road with Dubai-Al Ain Highway will be expanded to connect the Dubai-Abu Dhabi Road near Jebel Ali to link the other major road networks."
He added that the project comprises 13.5km of a two-lane highway and forms the continuation of phase one of the bypass interfacing at the roundabout on the Al Awir-Hatta Road near the Dubai Cultural Sports Club and extends Southwest and parallel to the overhead electricity line corridor and interface with the interchange at Al Ruwayah on the Dubai Al Ain Road.
He added that in the Dh60 million third phase of Dubai Bypass Road, the work on which will begin this year end, a 23km road will be constructed from Al Ruwayah Interchange on the Dubai-Al Ain Road to the Jebel Ali-Lehbab Road. The project, Mr Sultan said, is currently under designing stage, and is expected to be completed by the end of next year.
"Technically speaking, this road is very sturdy and will not experience wear and tear even with traffic comprising very heavy vehicles, I would say it can take military tanks without damage. And once complete, we intend to divert and limit all heavy traffic to this road, leaving the inner parts of Dubai free from heavy vehicles," Khalid Mohammed Al Marri, Head of Road Construction Section at the municipality said. He added that the ring road will be linked in future with the bypass road to ease movement of vehicles using the highways of the emirate. The bypass road is expected to turn into a main arterial road over the next few years, thanks to a series of ambitious development projects that are taking place on both sides of the road including the University City at at Ruwayah.
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