Dh3b Deira market face-lift

DUBAI — Construction is imminent on Dh4.5 billion worth of projects in Dubai, including an unusual region-first “hanging canal” which will be built high above the city’s Metro network. His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Thursday gave a two-year time frame for the completion of the much-talked about two-kilometre Business Bay Canal project, slated to cost Dh1.5 billion. “I want this project to see light within two years from the day of beginning of construction,” he declared after viewing the design plans. Shaikh Mohammed also viewed the designs of the Dh3 billion Deira market expansion project. Mohammed Ibrahim Al Shaibani, Executive Director and CEO of project developers Investment Corporation of Dubai, said as well as the market expansion, the project included the construction of six hotels, residential and commercial towers, a marina, storage facilities, loading and unloading bays, and a parking lot which is twice the size of the current one. The marketplace would be another addition to Dubai’s tourist attractions, he said. The four-kilometre project, which will stretch between Dubai Creek and Al Hamriya Port, will be built in two phases that is estimated to take four years — two for each phase. The project briefing was also attended by Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; and Shaikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates airline and Group. Shaikh Mohammed ordered the immediate implementation of the modified Business Bay Canal plan, which now includes the unique hanging canal, and stressed relevant authorities must coordinate on the work in order to see the project through, his website reported. The canal project will extend from Business Bay to Jumeirah Beach, crossing Shaikh Zayed Road, Al Safa Park and Wasl Street en route. In keeping with the high-rise aesthetic of the city, the new canal will rise above the city’s other waterways and even the elevated Dubai Metro. Electromechanic cranes will lift yachts into the lofty canal for entertainment. Shaikh Mohammed praised the hanging canal as “creative”, and declared it would be the next milestone to be added to Dubai’s pantheon of global tourist attractions, keeping the UAE at the forefront of regional and global tourism. Al Shaibani said the canal, the first of its kind in the Middle East, would add a fresh urban and tourist landmark to the emirate’s cityscape. Meanwhile, there has been progress on another multi-million dirham project lined up for the Emirate, with the first satellite images of the site where Mohammed Bin Rashid City is to be built. The joint UAE-South Korean observation satellite DubaiSat-1 beamed back the first glimpse of where the city will stand, with monthly images scheduled in order to chart the project’s progress. Mohammed Bin Rashid City, announced last month, will be located between Emirates Road, Al Khail Road and Shaikh Zayed Road. - Khaleejtimes.com