Value of Dubai Waterfront project may exceed Dh100b
The total value of the Dubai Waterfront project is expected to exceed Dh100 billion, according to study done by Nakheel Properties. "Three companies introduced their bids to Nakheel company in order to win the deal of infrastructure development of Madinat Al Arab, the heart of the Dubai Waterfront project" said Madinat Al Arab General Manager Khalid Al Huraimel. "the infrastruture work would start this year by the time the investors would invest would receive the lands they owned, while the work was under way to select the company that would undertake the development works, which will finish before the end of this year" Al Huraimel added.
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07/14/2006 09:02 PM
Reclamation work begins on first Dubai Waterfront island
Staff Report Dubai:
Dubai Waterfront, the world's largest waterfront development and a subsidiary of Nakheel, began reclamation work on the first of seven islands to be reclaimed at the project.
The reclamation phase of the 310-hectare island marks one of the pivotal stages in the construction of the development.
This activity assumes significance as it marks the actual "water breaking" milestone. Work on the first island, worth more than $200 million, will be completed in the next 18 months, company officials said.
The entire project will take approximately six years to complete.
Khalid Al Huraimel, Chief Operating Officer of Dubai Waterfront Company, said: "The awarding of the reclamation contract is another key milestone for Dubai Waterfront, indicating the fast pace at which the project is being developed.
"This reclamation work on the first island is critical as it will pave the way for future development and reclamation work of the rest of the islands.
"We shall also start work very soon on Madinat Al Arab, the first district zone and the nucleus of the entire Dubai Waterfront development."
The contract for the reclamation work has been awarded to Jan De Nul, a leading Belgian company specialised in dredging and land reclamation.
The work on the first island of the development will be executed mainly by Trailer Suction Hopper Dredgers that will transport sand offshore, approximately 20 nautical miles and ferry the sand towards the waterfront area where it will be dumped or jetted into the reclamation area.
J.P.J. De Nul, owner of Jan De Nul stated: "Dubai is witnessing a tremendous growth and it is really exciting to be involved such an ambitious and iconic project that will be a part of the legacy of this great city.
"This project represents a unique opportunity for our company and we look forward to working on this dynamic development."
More than 300 million cubic metres of sand and 12 million cubic metres of rock to protect the seven islands will be utilised for the process.
The first offshore island is about 15 per cent of the entire project, which will cover an area of approximately 2,300 hectares.