Real Estate Infrastructure work to start on relaunched Palm Jebel Ali By Pramod Kumar May 27, 2024, 4:16 AM Nakheel Dubai's Palm Jebel Ali will eventually be home to 35,000 families Work has commenced on Dubai’s Palm Jebel Ali mega project with the award of new infrastructure contracts. Among the contracts is one to build a 6km-long public access road from Sheikh Zayed Road to the palm-shaped master development, Nakheel, the developer of the man-made palm-shaped island, said in a statement. DBB Contracting, a local contractor, is to build the access road and a construction road serving the central portion of the island. NewsletterGet the Best of AGBI delivered straight to your inbox every week Khansaheb Civil Engineering, a subsidiary of Khansaheb Group, has won a contract for the roadway and lighting enhancements to Al Hesah Street (formerly the old Abu Dhabi Road) at Dubai Waterfront, the mainland route that connects to Palm Jebel Ali. The value of the contracts was not given. In March, Nakheel and Meydan merged into Dubai Holding, the investment vehicle of Dubai’s Ruler Sheikh Mohammed bin Rashid Al Maktoum, to create a new global economic entity. Dubai’s rich switch from home buyers to investors Dubai developer releases first Palm Jebel Ali villas Palm Jebel Ali to add much needed beachfront properties Launched in 2002, the project stalled during the global financial crisis and development at the site has been on hold since around 2009. Palm Jebel Ali is set to become a major residential and leisure hub within the new Expo 2020 urban centre. The island spans 13.4km of land, with 10.5 million sq m of development. It features 16 fronds, totaling 110km of coastline and 91km of beachfront. The island will be home to 35,000 families, contributing to Dubai’s projected net increase in residents, which is set to reach nearly six million people by 2040. In September 2023, Nakheel announced the sale of the first villas on Palm Jebel Ali’s four “fronds”. The state-backed developer’s waterfront projects, including Palm Jumeirah, have added more than 300km to Dubai’s original 72km coastline.
Manufacturing Alba and Ma’aden ‘terminate’ merger discussions Aluminium Bahrain (Alba) and the Saudi Arabian Mining Company (Ma’aden) have ended talks over a merger of the two Gulf manufacturing giants. Discussions had been ongoing since last year and it had been hoped that a deal could be completed in the first quarter of 2025, according to Alba’s chief executive Ali Al Baqali. Last […] 4 hours ago
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Energy Turkey to invest $20bn to promote energy efficiency Turkey intends to invest more than $20 billion in energy efficiency projects by 2030 to combat climate change and boost sustainable development, according to a news report. The first national energy efficiency action plan attracted investments of $8.5 billion between 2017 and 2023, state-run Anadolu Agency reported, citing Bilal Düzgün, head of the ministry’s energy […] 1 hour ago
