Wednesday, December 21, 2011

DMC launches 6 new mixed-use Business Districts


The Dubai Maritime City (DMC) this week launched six new mixed-use Business Districts, further strengthening the position of Dubai as leading global maritime hub. The launch was held under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai World.

The grand inaugural launch ceremony held at the 227-hectare man-made peninsula of DMC, located between the Drydocks World and Port Rashid, involved participation of Director General of HH the Ruler’s Court, Khamis Juma Buamim, Chairman Drydocks and Maritime World, senior company executives, representatives of developers, government officials and special invitees.

Work will commence on six new projects in the Business District, following the launch. Among the new projects are Swiftships Towers by Swift Development, Sheth Developers with the Project ‘Iris Mist’ Hotel Apartments and Residences, Kensington Krystal by Kensington Global, Sanali Aquamarine Residential Apartments by Sanali Global, and Dubai Investments Real Estate with a six star hotel.   Project mobilization and commencement of construction will begin towards end of 2012.

The Dh.2.5bn worth Business District, spread across 121 hectares of land, is located at the heart of the visionary DMC project, and complements the Marine Industrial District Operation, unveiled earlier this year. It will serve as the main business growth engine of DMC, accounting for nearly 90percent of its projected total income in 2013. It comprises a maritime centre, a marina, an academic quarter, a hotel and harbour offices and residences.

Among the nineteen renowned developers being considered to handle the development and sale of commercial and residential units within the Business District are Al Burj Real Estate, Swift Development, Kensington, Global Investment Inc, Sanali Global Limited, Sheth Estate International Limited, Deyaar Development – PJSC, ETA Star Property Developers LLC, Omniyat Properties Eighteen Ltd., Al Faraa Investment, Mena Capital Investment, Vakson Freehold, Hemen R E D & General Trading Limited, Meyadeen, Dubai Investment Real Estate, Mohammed Shafar, Das Holding, Esam Janahi, Ismail Janahi, and DAMAC.

DMC is the first maritime group in the world, with an integrated development comprising residential, commercial, industrial, academic, and lifestyle components. It is specifically meant to improve the maritime industry and serve as a unique place for maritime community to work, live and play.

The first phase of DMC was completed in March this year. The 106-hectare Marine District, comprising 96 units of various sizes has been constructed and considered operationally fit. Majority of them have already been occupied by major maritime companies. The phase 2 involves additional infrastructure, while phase 3 will involve completion of all commercial aspects too, by 2014. On completion, there will be more offices, showrooms, shops, warehouses, and yacht building yards.

The shipyards in DMC will have the capacity to handle a range of vessels including handling tugs, medium size tankers, diving support vessels, bulk carriers, offshore supply vessels, landing crafts, navy vessels, tugs and barges and yachts.

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