Dubai goes green
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News on Dubai
12 May 2008
A new $55bn (£28bn) eco town is to be constructed in the centre of Dubai.
The new scheme, to be named the 'Sheikh Mohammad Bin Rashid Gardens', was launched by UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum. It will be situated between Al Khail Road and Emirates Road on a plot measuring over 850m sqft. Around 73% of the development will be devoted to green and open spaces and 10% will be allocated to waterways.
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”.