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Dubai Launches Dh350b Jumeira Gardens
DUBAI — Dubai’s Meraas Development, part of the government-owned Meraas Holding, on Monday launched Dh350 billion Jumeira Gardens, a master-planned community project across an area north of Shaikh Zayed Road between Diyafa Street and Safa Park.
Abdulla Ahmad Al Habbai, Chairman of Meraas Holding, which bought the $2.8 billion General Motors building in Manhattan along with Boston Properties early this year, said Jumeira Gardens would be an integral part of Dubai’s future. “The mixed-use, freehold and leasehold development, to be built over 12 years, will be an integrated city within a city, with business, residential, retail, leisure and recreational components.”
Construction of the project’s first phase, spread over 820,000 square metres, has already begun, and the first buildings are due for handover in the fourth quarter of 2011. Final completion of Phase 1 is set for the fourth quarter of 2013. “There will be several major parks and a number of smaller community parks to ensure extensive green areas. A large canal will run through the heart of the development and will flow, at one end, into the Business Bay Canal and at the other end, out to the sea.”
He said some of the city’s biggest towers would be located in Jumeira Gardens. “Like all buildings in the project, they will set standards of ‘green’ building design, through features such as passive energy generation, shaded foliage-covered atriums and roofs and heat reducing cladding.” “All of the holding company’s collective resources will contribute to the Jumeira Gardens project. We will leverage our subsidiaries’ expertise in healthcare, education, retail and leisure to complement the competencies of Meraas Development in building a district of unrivalled comfort, convenience and community,” he added. Sina Al Kazim, CEO of Meraas Development, said that the project would address every element of urban living through comprehensive planning.
issacjohn@khaleejtimes.com
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