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 Dubai’s $55 billion eco-surprise
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Monday, May 12, 2008 |
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Dubai is about to go green in the biggest way imaginable…
A new $55 billion eco town is to be built in the centre of Dubai. The project, which aims at preserving the environment and increasing greenery in Dubai, was launched by UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum.
The new development, named the 'Shaikh Mohammad Bin Rashid Gardens', will be located between Al Khail Road and Emirates Road on a plot of over 850 million square feet, about 73% of the development will be dedicated to green and open spaces and 10% will be allocated to waterways.
In January 2008 the Prime Minister issued guideline for all new commercial and residential property in Dubai to be built using sustainable building methods and materials.
Forward thinking
Paul Greaves, Dubai property manager for sandcastles-property.com said: "The concept looks original and forward thinking and we are delighted to add the Shaikh Mohammad Bin Rashid Gardens to our expanding database of properties in Dubai and from across the United Arab Emirates."
Hashim Al-Dabal, chairman of Dubai Properties, commented: “The new green development in Dubai will be divided into four differently themed areas, wisdom, nature, humanity and commerce; with all four having an iconic building as its centerpiece as well as commercial, educational and residential property for sale
"Here we will use a two-stage strategy where the infrastructure will be funded by the company, later on we will engage other developers and market investors for another source of funding”.
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