It will be important to watch if the central bank nudges the South Asian currency higher as a slight downward bias is likely to persist in the market, says expert
A new bridge opened on Al Khaleej Street on Saturday and is expected to ease traffic towards Bur Dubai.
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The bridge extends up to 570 metres and comprises of three lanes in the direction of Bur Dubai, as well as a surface junction at the intersection of Al Khaleej Street and Omar bin Al Khattab Street.
The opening is part of Shindagha Roads Corridor, one of the biggest road projects currently undertaken by the RTA that extends 13km from Sheikh Rashid Street and passes through Al Mina Street and Al Khaleej Street up to Cairo Street.
The new bridge, which serves traffic inbound from Al Mamzar and Deira Islands in the direction of Shindagha Tunnel, is capable of handling 4,800 vehicles per hour, Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of RTA, said.
“The bridge can handle 4,800 vehicles per hour. It serves the traffic on Al Khaleej Street inbound from the junction of Abu Baker Al Siddique Street and Deira Islands in the direction of Shindagha Tunnel. Thus, it ensures a smooth flow of traffic along Al Khaleej Street. RTA also opened a surface signalised junction at the intersection of Al Khaleej Street and Omar bin Al Khattab Street,” said Al Tayer.
“Traffic has also been diverted inbound from Al Mamzar, the junction of Abu Baker Al Siddique Street, and Deira Islands to the new bridge, and then to the surface junction at the intersection of Al Khaleej Street and Omar bin Al Khattab Street. The project fulfils all traffic safety stipulations such as streetlights, road markings, and directional signage according to the approved designs to ensure top safety levels for road users and pedestrians,” he explained.
Al Tayer further said that the Shindagha Roads Corridor Project was almost reaching its conclusion.
“The completion rate of the current contracts of Shindagha Roads Corridor Project has reached 70%. Due to the massive scope of the project, it had been split into five phases that serve development projects in the areas such as Deira Islands, Dubai Waterfront, Dubai Maritime City and Mina Rashid. It can also accommodate the projected future traffic volumes. Upon completion, the project will cut short the travel time across Shindagha Corridor from 104 minutes to just 16 minutes.
“RTA had accomplished two phases including upgrading the junction of Sheikh Rashid-Oud Metha Streets (Wafi Junction), and the intersection of Sheikh Rashid-Sheikh Khalifa bin Zayed Streets. Work is currently underway in Phase III, which covers the construction of Shindagha Bridge, improvements of Corniche Street, intersections on Al Khaleej street and Falcon Interchange. Last August, RTA opened bridges leading to the entry/exit points of Deira Islands at Abu Baker Al Siddique Street.
“Phase IV of the Project covers improvements of Al Khaleej Street along with the intersection with Abu Hail Street. It also covers improvements of the intersection of Sheikh Rashid Street with Jumeirah, Al Mina and Al Mankhool Streets. This Phase is expected to be completed by the end of 2025. Phase V covers the construction of bridges leading to Deira Islands southwards, which is set for completion by 2027.
reporters@khaleejtimes.com
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