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 Investment Corporation of Dubai (ICD) for the next three years. After completion, the projects would contribute 10 per cent 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 US$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 Dh8 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.
Sheikh Mohammed expressed his admiration about the-state-of-art development designs being implemented by the ICD in and outside the U.A.E., adding that these projects will develop and diversify the U.A.E. economy. "They reflect the strength of our economy and its ability to grow steadily," he added.
Among others present were Khalifa Saeed Suleiman, Director-General of Protocol and Hospitality Department in Dubai and Abdullah Ahmed Al Habai, CEO of Meraas Holding