(Dubai) – Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has praised a host of promising projects being implemented by the Investment Corporation of Dubai (ICD) over the next three years. After completion, the projects would contribute 10 percent to the national economy.
Inspecting the engineering design at Atlantis Hotel at Nakhla Jumeirah Dubai in the presence of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Sheikh Mohammed ordered completion of the construction by 2018. Sheikh Mohammed was briefed by Mohammed Ibrahim Al Shaibani, Director-General of the Dubai Ruler’s Court, CEO of ICD and engineering supervisors on the components of each project. He examined components of Royal Atlantis resort at Palm Island in Dubai at cost $1.5 billion.
He also had a briefing from Al Shaibani and his assistants on Deira Waterfront project to be completed by 2016 at cost AED8 billion. It includes commercial and residential buildings. Sheikh Mohammed got briefed about Warsan project to be constructed at land area of 1 million square metres at Al Aweer road. It will include residential buildings and model boarding school. The first phase of the project will be completed in three years at cost ADE2.5 billion.
ICD is also developing in cooperation with Kerzner International Holdings Limited, Atlantic Hotel and Resort in Sanya city in Hainan Province, China, set to be the first luxurious resort of this size in China, and the third in the world. It will be constructed on more than 60 hectares of land.
(Courtesy WAM)
