Developer in final negotiations with Dubai Holding on business district, retail, sports, leisure facilities
Emaar Properties will form a joint venture with conglomerate Dubai Holding to build a 6.5 million square metre "urban district" in the emirate, the developer said in a statement on Sunday.
The new project, Dubai Creek Harbour, will include a business district, shopping, sporting and entertainment facilities, according to the statement. Emaar said it was in the final stages of negotiations with Dubai Holding for the project.
Emaar, Dubai's largest listed developer, is part government-owned, while Dubai Holding is part of the Dubai ruler's personal business empire.
Separately, Emaar said on Saturday that it formed a joint venture with Meraas Holding to build a huge residential and commercial area near the city's downtown area.
Go on then, destroy the last vestiges of the real Dubai. The Creek is the only original part left of Dubai and the only reason for intelligent people to visit the glorified shopping centre of an emirate. The abras, the Bastakia, the Sheik Zayeed house, the spice market etc. make Dubai seem even half human.
Am just wondering if this is a renamed culture village project that never got off the ground?
Or is that still going nowhere does anyone know?
Well said, I could not agree more! Dubai becomes more and more like a bad game of SimCity left untended overnight!
i just fear we will again get into the 2008 scenario . the businesess have just little better and the vultures will come to sell again . some will run away before we can get up and say what happened . How many more aci's should we see coming again.
Shouldn't Meeras and Dubai Holdings at least make a cursory attempt to build the stuff it started before the crash?
Ronald: They aren't destroying anything of what you called 'the real Dubai'. It is in some barren land which transformation started and was stalled by the crisis
This is stuff that started before the crash. It is the one once called The Lagoons, you know, the one with those 4 flame-like towers and the ultra-modern Opera House (no news if they will still be part of the project though)