Dubai developers have commenced work on mega projects and are set to complete their developments much before 2020.
The aim is to deliver their iconic projects (tourist attractions) ahead of Expo 2020, which will run from October 20, 2020 to April 10, 2021, and aims to draw more than 25 million visitors to the country.
In April, Dubai government had said that the Expo 2020 master plan remains on track with a target date for completion of all major construction activities on site by October 2019, allowing for a full year of readiness testing across networks, systems and technologies.
Dubai is expecting Dh25 billion in total investment in infrastructure-related projects in the run-up to Expo 2020 with nearly 277,000 new jobs being created.
"We expect an acceleration in some iconic real estate projects as there will be a spurt in the overall demand from local and international investors. We foresee expectations increase dramatically across the entire spectrum of real estate,” Khalid Bin Kalban, CEO, Dubai Investments, had told this website.
As billions of dirham worth of construction contracts are awarded, state-owned entities have announced plans to build more new iconic projects this year.
Here are the details of projects under construction and announced this year.
Dubai Water Canal
Work is in full swing on the Dh7.34-billion Dubai Water Canal that will connect the Business Bay with the Arabian Gulf passing through the heart of Dubai.
Roads and Transport Authority (RTA) has already awarded contracts, worth Dh1.7bn, for the three phases of the project. The new contracts announced are for phase II and phase III, worth Dh1.1bn.
China State Corporation has been awarded the Phase II contract, which comprises construction of bridges across the canal on Al Wasl and Jumeirah Roads at a cost of Dh384 million.
Phase II will provide a link between Dubai Creek and the Arabian Gulf via a water canal passing across Sheikh Zayed Road, Al Safa Park, Jumeirah 2 and up to the Arabian Gulf near the southern part of the Jumeirah Creek Park.
The work will completed be in the last quarter of 2016 to coincide with the completion of Phase I of the project covering the construction of a bridge on Sheikh Zayed Road passing over the course of the Canal, allowing free navigation around the clock.
The phase 1 contract, valued at Dh580 million, was awarded to Turkish firms Mapa and Gunal. It includes the construction of a bridge on Sheikh Zayed Road, comprising eight lanes in each direction.
Belhasa Six Construct Company was awarded the phase III contract, worth Dh802m. The phase III comprises construction of a water canal linking the Dubai creek with the Arabian Gulf.
Work is set to start in June while the scheduled completed date is end-September 2016.
The Dubai Water Canal project will include a new shopping centre, four hotels and 450 restaurants as well as luxury housing and cycling paths. It is expected to provide new areas measuring 80,000 square metres for public places and facilities, as well as private marinas for boats and a new trade centre at the entrance of the canal.
The canal itself will measure six meters deep, while bridges will be built eight meters high to allow the passing of yachts and marine craft.
Jewel of the Creek
With Dubai International Real Estate, the developer of the Dh3bn Jewel of the Creek project in Port Saeed, having awarded the package 8 contract, worth Dh1.45 billion, to Habtoor Leighton Group (HLG), construction on the project will gather pace. Construction works on package eight is scheduled to start Q3 2014 and complete in Q3 2017.
Al Habtoor City
Work on the Dh11bn Al Habtoor City, a residential and hospitality development, is progressing at a fast pace. The City, according to Al Habtoor Group, the developer, will incorporate more than 3,000 hotel and residential units on one plot, three branded hotels and a permanent Franco Dragone Entertainment Group water-themed production.
Deira Islands will see construction beginning soon as Nakheel is now seeking companies to design and build the stage 1 of Deira Islands, including up to nine beaches. The stage 1 includes placing and profiling of up to nine new beaches, construction of new coastal structures (breakwaters, revetments and quay walls) for two shore islands.
The state-owned developer has already appointed AE7 for the design and supervision of the project, including master planning, parcelisation and infrastructure design, under a contract worth Dh28 million.
New projects announced:
Dubai Municipality is planning to build an “Aladdin City,” a project inspired by the tales of Aladdin and Sindbad. The project will have three towers, comprising commercial and hotel space, with the towers spread over a distance of 450 meters on Dubai Creek.
Al Mamzar beach project
The latest project to join the list is the Al Mamzar beachfront lifestyle development with Emaar Properties and Dubai Municipality having already signed a memorandum of understanding (MoU) to develop the project. Emaar, a Dubai-listed developer, will conduct feasibility studies and submit a detailed project report outlining the development potential to Dubai Municipality. Following approval of the master plan, the two parties will finalize the project management structure.