Company News

Dubai ruler announces new mega city project
November 24, 2012

Dubai ruler Sheikh Mohammad Bin Rashid Al Maktoum announced on
Saturday plans to build a new multi-billion dollar project called
Mohammad Bin Rashid City.

The new city project will be built by Dubai Holding and Emaar
Properties in what is being described as the biggest real estate joint
venture in the region.

No value has been given for the project but plans include building
the world's biggest shopping mall, a Universal family theme park and a
park that is a third bigger than Hyde Park in London.

The project will comprise four key components and will feature "world
class leisure facilities and provide an integrated environment for the
development of entrepreneurship and innovation", a statement said. It is
not clear how this project will impact the much-delayed Dubailand
project.