Privilege Dubai
  • Home
  • ~ Dubai News ~
  • THOE
    • The Floating Seahorse
    • Portofino Family Hotel
    • Germany Island Villas
    • Monaco De Dubai Hotel
  • EMAAR
    • Aseel Golf Villas
    • Il Primo Penthouses
    • Palace Residences
    • Beachfront Apartments
    • Grande Downtown
    • Expo Golf Villas
    • Maple Villas
    • Creek Gate Apartments
  • Nakheel
    • Al Furjan
    • The Palm Tower
    • Nad Al Sheba Villas
  • Meraas
    • Bluewaters
  • Al Wasl
    • The Nook Apartments
  • Palm Jumeirah Portal
  • Company Sponsorship
  • Member Registration
  • Home
  • ~ Dubai News ~
  • THOE
    • The Floating Seahorse
    • Portofino Family Hotel
    • Germany Island Villas
    • Monaco De Dubai Hotel
  • EMAAR
    • Aseel Golf Villas
    • Il Primo Penthouses
    • Palace Residences
    • Beachfront Apartments
    • Grande Downtown
    • Expo Golf Villas
    • Maple Villas
    • Creek Gate Apartments
  • Nakheel
    • Al Furjan
    • The Palm Tower
    • Nad Al Sheba Villas
  • Meraas
    • Bluewaters
  • Al Wasl
    • The Nook Apartments
  • Palm Jumeirah Portal
  • Company Sponsorship
  • Member Registration
"We are committed to the notion that quality matters and will never stop striving for perfection"

Dubai Holding To Begin Work On Mall Of The World In Q1 2015

9/8/2014

 
The mega project, announced earlier this year, will house the world’s largest shopping mall.
Picture
Government owned conglomerate Dubai Holding has announced that it plans to begin work on the recently announced mega project, Mall of the World, early next year.

In a statement announcing the financial results of its business group, Dubai Holding Commercial Operations Group (DHCOG), for the first half of 2014, Dubai Holding confirmed that it is currently appointing specialised consultants for the new development.

It expects to commence work on the first phase of the project during the first quarter of 2015, the statement added.

Launched in July this year, Mall of the World is a 48 million sq ft, climate-controlled development, which will house the world’s largest shopping mall and the world’s largest indoor theme park, covered by a glass dome that will be open during the winter months.

The project, estimated to cost $6.8 billion, will also include a wellness zone, a cultural celebration district and 100 hotels and serviced apartment buildings with 20,000 rooms.

Once completed, the development is expected to welcome around 180 million visitors annually.

The project’s first phase is slated to include the retail aspects and is expected to be ready in three years.

The whole development will be built over 10 years, and the funds will be raised gradually during that period, Dubai Holding CEO Ahmad bin Byat said earlier this year.

Dubai Holding, hit hard during the crisis, has seen strong recovery across its units, with DHCOG reporting a net profit of Dhs2.1 billion ($571.8 million) for the first half of 2014. The company’s revenue grew to Dhs5.6 billion and EBITDA stood at Dhs2.8 billion, the statement said.

With assets worth around Dhs116 billion, Dubai Holding’s portfolio includes Jumeirah Group, which owns and operates 22 hotel developments; Dubai Properties Group; TECOM Investments, which manages 11 business parks and Emirates International Telecommunications, which holds a major stake in du.

Comments are closed.

    Privilege Dubai

    Stay up to date with this blog on important news in Dubai, UAE.


    Archives

    September 2019
    January 2019
    December 2018
    October 2018
    May 2018
    April 2018
    February 2018
    September 2017
    February 2017
    January 2017
    December 2016
    September 2016
    August 2016
    March 2016
    December 2015
    November 2015
    October 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013


    Categories

    All
    Nakheel
    Reject Rent Contract
    Rent In Dubai


    RSS Feed


​Terms Of Use | Privacy Promise | Advertising | Contact
Copyright @ 2012 to 2020 Privilege Dubai | All Rights Reserved 
  • Home
  • ~ Dubai News ~
  • THOE
    • The Floating Seahorse
    • Portofino Family Hotel
    • Germany Island Villas
    • Monaco De Dubai Hotel
  • EMAAR
    • Aseel Golf Villas
    • Il Primo Penthouses
    • Palace Residences
    • Beachfront Apartments
    • Grande Downtown
    • Expo Golf Villas
    • Maple Villas
    • Creek Gate Apartments
  • Nakheel
    • Al Furjan
    • The Palm Tower
    • Nad Al Sheba Villas
  • Meraas
    • Bluewaters
  • Al Wasl
    • The Nook Apartments
  • Palm Jumeirah Portal
  • Company Sponsorship
  • Member Registration