DP to invite investors for Mohammed Bin Rashid Gardens

DUBAI — By the end of this year the Dubai Properties Group will invite local and foreign companies to become its strategic partners for the Dh200-billion Mohammed Bin Rashid Gardens, a mixed-use project between Al Khail and Emirates Roads.

By Jose Franco

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Published: Wed 30 Apr 2008, 9:39 AM

Last updated: Sun 5 Apr 2015, 11:47 AM

These partners would have a total investment of up to 40 per cent of the whole budget, which could “scale up” as the development will take 5-7 years to complete, according to Hashim Al Dabal, the group’s chairman.

He said the group, which started out as Dubai Properties, would carry out all the project’s components and would not award some contracts to other companies. The group is part of the Dubai government-owned investment company, Dubai Holding.

With 73 per cent of its 880-million-sq-ft area to be dedicated to gardens, parks and open spaces for people to move around, the project’s “green concept” is the “first of its kind” in Dubai, Al Dabal said.

“The whole project will complement everything there is in Dubai,” he added. “This will be an added value to living in Dubai.” He stressed the need for the city’s ultra-urban but walkable and environment-friendly community.

Only 10 per cent of the total area will contain residential, commercial and office buildings, complying with the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to having a community development focusing on nature and people.

Shaikh Mohammed launched the project, which has six phases and will incorporate centres of commerce (for business offices), wisdom (schools), nature (gardens and parks) and humanity (arts and culture).

“The idea of the project was embodied in Shaikh Mohammed’s decision to establish buildings that are environment friendly, restrict the usage of power and protect natural resources from being wasted,” said Mohammad Abdullah Al Gergawi, the Minister of Cabinet Affairs and Chief Executive Officer of Dubai Holding, in a statement.

Al Dabal said the first two phases, which involve horizontal structures such as the water and sewerage system and roads, will start immediately after final negotiations with various government agencies and be done in 2-3 years. The four other phases will have a specific plan by the end of this year and it covers the development of the community itself.

The project also involves the development of 42 km of water canal, universities, a museum, a festival hall and The Mohammed Bin Rashid Foundation, among other structures. The canal brings to life the main concept of the project - which is to bring life to the desert.

Some 200,000 residents and 300,000 workers and visitors are expected to be in the community daily upon its completion, prompting Dubai Properties to incorporate mass transport and grey water systems into the project.



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