Sheikh Mohammed was recently quoted as saying, "The process of development never stops and has no limits." His words come amid further evidence of Dubai’s economic resurgence – as more and more developments are unveiled...
Senior officials from Dubai’s Roads and Transport Authority (RTA) also called on the Al Habtoor Group in recent weeks seeking collaboration on a multi-million dollar canal project.
The RTA came to show the Group its plans for its Business Bay Canal Project which was recently endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
His Excellency Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA and other senior executives were received at the Al Habtoor Group Headquarters by Sultan Al Habtoor, President, Al Habtoor Motors; Mohammed Al Habtoor, Vice Chairman & CEO; Mohammed Al Mazrooei, Managing Director; Yusef Shalabi, Director of Projects & Real Estate and Martyn Wild, Project Director.
The meeting was also attended by Khalaf Al Habtoor, Chairman of the Group.
The RTA and Al Habtoor Group reached an understanding to collaborate on current projects underway around the canal in the Dubai Business Bay.
The RTA recently announced plans to extend its Business Bay Canal Project which will comprise of modifications to existing roads and bridges to extend the Canal from the Sheikh Zayed Road up to the beach. It will pass by the Habtoor Palace project, due for completion in 2015. The Canal, which will stretch 2.8 kilometers, will take two years to complete. It will cross the Sheikh Zayed Road (before Safa Interchange) and pass through Safa Park, Wa sl Road, Jumeirah 2 and Jumeirah Road.
The Chairman of the Al Habtoor Group, Khalaf Al Habtoor said, “The Al Habtoor Group and RTA will cooperate to ensure the projects work in unison.”
“The Habtoor Palace, once complete, will be a new landmark for tourists and UAE residents alike. It is very exciting that the Canal project and Habtoor Palace will both be completed around the same time. It will offer something very unique to the region.”
The RTA said the Business Bay Canal extension project will begin by the first quarter of 2013. Project contracts will be awarded by the end of 2012.
At the end of the meeting His Excellency Mattar Al Tayer presented Al Habtoor with a trophy entitled ‘Building the future together,’ symbolic of their cooperation.
A NEW SKYLINE
Sheikh Mohammed recently unveiled AED 4 billion ($1.08 billion) development plans for Dubai. The projects include the AED 2.5 billion ($680 million) expansion of Madinat Jumeirah, a pedestrian footbridge across Dubai Creek, a AED 390 million ($106 million) residential complex for Dubai Police, and the AED 1.5 billion ($408 million) expansion of Business Bay Canal.
Also in the works are the development of a AED 10 billion ($2.7 billion) leisure, entertainment project including Bollywood and Hollywood theme parks and the establishment of a new city within Dubai called ‘Mohammed Bin Rashid City.’