Dubai plans new 'city', world's largest mall

Dubai, famed for its mega-projects before it was hit by the global financial crisis, on Saturday announced a new development to open the world's biggest mall and a park larger than London's Hyde Park.

The ruler of the Gulf desert city state, Sheikh Mohammed bin Rashid al-Maktoum, announced the plan for a "new city within Dubai," according to an official statement, naming it after himself.

No cost was stated for "Mohammed bin Rashid City," to be carried out by his Dubai Holding and the publicly-listed Emaar Properties, which developed many of Dubai's prestigious projects, including Burj Khalifa, the world's tallest tower.

The plan also features new residential areas, although the emirate continues to have a surplus of units built during a five-year bubble which burst in 2009.

The "Mall of the World" will have a capacity of 80 million visitors a year to become the "largest in the world," said the statement, while its park will be "30 percent bigger than Hyde Park of London."

The mall will be connected to a family entertainment centre to be developed in cooperation with Universal Studios International that will be the largest in the region, aiming to attract six million visitors a year.

The emirate already has countless malls and hotels, including the Dubai Mall, touted as the world's largest shopping, leisure and entertainment destination, with 62 million visitors this year.

"The current facilities available in Dubai need to be scaled up in line with the future ambitions for the city," Sheikh Mohammed said in the statement.

Dubai's tourism is growing by 13 percent a year, according to the statement, with hotel occupancy hitting 82 percent in 2011 while hotel revenues grew 22 percent last year, exceeding 16 billion dirhams ($4.4 billion).

The emirate rocked global financial markets in autumn 2009 over its debt crisis, but Dubai has restructured the mountain of debt owed by its corporations, and its economy has returned to growth after contracting in 2009.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Caltex Fuels Your Shopping With Robinsons Rewards Card Partnership
    Caltex Fuels Your Shopping With Robinsons Rewards Card Partnership

    Robinsons Rewards Card (RRC) members will enjoy earning more points not only when they shop at their favorite Robinsons stores but also when they fuel up at Caltex. Every five liter gas up earns a point which means that the more customers fuel up at Caltex and shop at Robinsons, the more points for fuel and shopping savings. Chevron Philippines Inc. (CPI), marketer of Caltex fuels and lubricants, teamed up with Robinsons Retail Holdings, Inc. (RRHI), the second largest multi-format retailer …

  • Philippines hits back at Beijing over South China Sea
    Philippines hits back at Beijing over South China Sea

    The Philippines on Saturday shot back at Beijing's criticism of its activities in the South China Sea, saying they were "in no way comparable to China's massive reclamation activities" in the waters. It also said accusations that Manila was being "hypocritical" would not distract people from Beijing's own actions which were raising regional tensions. "The Philippines' possible undertaking of necessary maintenance and repairs on its existing facilities in the West Philippine Sea... is in no …

  • Boxing hero Pacquiao is top tax-payer in Philippines: govt
    Boxing hero Pacquiao is top tax-payer in Philippines: govt

    Boxing hero Manny Pacquiao, who faces his biggest fight against unbeaten American Floyd Mayweather, already holds top spot as the number one taxpayer in the Philippines, government records showed Saturday. A list of top individual tax-payers for 2013, posted on the Bureau of Internal Revenue website, put the boxer-turned-congressman at number one with 163.84 million pesos ($3.72 million) in taxes paid. Internal revenue chief Kim Henares confirmed that Pacquiao topped the list but stressed …

  • Phl, Japan sign P9.6-B ODA projects
    Phl, Japan sign P9.6-B ODA projects

    The Philippines and Japan have signed agreements for six official development assistance (ODA) projects amounting to 22.289 billion yen or around P9.6 billion. …

  • Commission to launch glossary of Pinoy meteorological terms
    Commission to launch glossary of Pinoy meteorological terms

    The Komisyon sa Wikang Filipino (KWF) will release a glossary of meteorological terms in Filipino to help the Filipino people better understand weather forecasts and instill disaster awareness among them. National Artist for Literature and KWF president Virgilio Almario said yesterday the KWF produced the glossary titled Patnubay sa Weder Forkast to simplify scientific terms used in the weather bulletins of the Philippine Atmospheric Geophysical and Astronomical Services Administration …

  • Divorce bill good scapegoat for couples – CBCP
    Divorce bill good scapegoat for couples – CBCP

    Contrary to what romance novel writers would want their readers to believe, there are no perfect marriages in the real world. This was according to Catholic Bishops’ Conference of the Philippines (CBCP) president Lingayen-Dagupan Archbishop Socrates Villegas. In a statement titled “CBCP Position Against the Divorce Bill and Against the Decriminalization of Adultery and Concubinage,” Villegas said that while it is not easy to make relationships last, learning how to work out differences – and …

  • DND holds off infra dev’t in Pag-Asa
    DND holds off infra dev’t in Pag-Asa

    The defense department is holding off repairs and other planned infrastructure projects on Pag-Asa Island, one of seven islets and two reefs occupied by Filipino troops in the disputed Spratly Islands. Earlier, Foreign Affairs Secretary Albert del Rosario pointed out that the maintenance and repair of facilities in Pag-Asa Island are not covered by the Declaration of Conduct (DOC) of parties involved in the West Philippine Sea territorial disputes. “Repair and maintenance is okay but before …

  • Blackout to hit 5 Aurora towns
    Blackout to hit 5 Aurora towns

    An 11-hour power outage will hit five towns in Aurora on Tuesday, the National Grid Corp. of the Philippines (NGCP) announced yesterday. The NGCP said Baler, Dingalan, San Luis, Ma. Aurora and Dipaculao would be affected by the blackout. The NGCP said parts of Nueva Ecija and Aurora were hit by a power interruption yesterday due to the tripping of the Cabanatuan-Baler 69kV line. …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options