Phase one of the "future city" project gearing up to completion in Dubai

Dubai Holding reported of its progress in construction The Mall of the World mega-scaled project in Dubai, worth AED 25 billion.

At the last week’s Marasi Business Bay project launch ceremony, reported of, a representative of Dubai Holding Fadel Al Ali shared details about much expected The Mall of the World and revealed what stage its implementation has reached for now.

The Mall of the World is a mega-scaled structure, a complex of five different components: on the territory of 1.7 million square meters there will be five integrated zones — retail, residential, office, hospitality and entertainment one. This complex will, without exaggeration, shape the future appearance of Dubai. It is due to the fact that the very concept of the complex is aimed at building a real "future city ", this name now applies to Dubai city as well. And that is why this long-awaited project planned for completion in 10-15 years now excites such interest not only in Dubai’s public, but also in regional and foreign investors.

For now, the developer is a little bit ahead of schedule, said Al Ali. Works have been coordinated with all technical authorities and departments, and also with Dubai Municipality. Now, after receiving the final permits, the actual construction will probably begin in 2016, and not at the beginning of 2017 as it was initially planned.

Currently Dubai Holding is finalizing future design of the first phase of the complex. The whole construction process will be divided into two phases. Besides 278 residential, office and retails building, a lot of shady parks, recreational areas, galleries, malls and arcades with temperature control are also a part of the project. And in the field of infrastructure special attention will be paid to connectivity to the surrounding city, with seven modes of transportation present, including Dubai metro, buses and shuttles, and even gondola rides through the water canals.

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