Dubai World Central (DWC)Dubai World Central (DWC)

Following the successful sell-out of the project's Phase 1 and Phase 2 plots, the development of DWC Residential City is on-track, as the next three phases of a five-phase development plan will be up for sale during the next three consecutive years.

Phase 3 plots are expected to be sold in March 2009.

"With constructions having commenced at DWC Residential City, the entire Dubai World CentralDubai World Central's real estate development has received an impetus as plans for other DWCDWC real estate and property components are being unveiled," said Khalid bin Harib, CEO, DWC Real Estate.

In February 2007, over 200 plots valued at AED 2 billion were sold out in Phase 1, while another 283 plots valued at AED 6 billion were sold out in Phase 2 in March this year.

"With the successful sell-out of Phase 1 and 2, potential investors have already expressed interest for the reservation and eventual sale of plots of land at the remaining three phases of DWC Residential City," said Rashid Aldhebaiei, General Manager, DWC Residential City.

"We expect to receive tremendous response during this reservation stage during and after Cityscape. We also expect the third phase to be completely sold next year at the actual sales event," added Aldhebaiei.

In Phase 1, corporate houses led the investor rush with an aim of providing their employees subsidised housing, while on the other hand, Phase 2 saw major real estate developers investing in DWCDWC's prime real estate as regional developers have already understood DWCDWC's value proposition in offering mid-cost housing.

DWC Residential City will include a mix of five to ten-storey mid-cost apartment blocks targeting the middle income segment. Up to 250,000 people are expected to live in this 'city' that would also create employment opportunities for approximately 20,000 workers.

DWC Residential City will have all the latest facilities including schools, malls, hotels, health centres, community centres, mosques, fuel stations and parks. In addition, a staff village which will house blue-collar workers within high-quality accommodation is also to be built within DWC Residential City.

-Ends-

About Dubai World CentralDubai World Central:
Dubai World Central (DWC)Dubai World Central (DWC) is a 140 square kilometre urban aviation community centred around the world's largest international airport. Currently being built 40 kilometres from the existing Dubai International Airport the project is almost twice the size of Hong Kong Island.

DWCDWC creates a new benchmark in urban planning and destination living designed to support Dubai's aviation, tourism, commercial and logistics requirements until 2050 and beyond, and represents one of the most important developments in the history of the United Arab Emirates.

Eventually home to over 900,000 people, DWCDWC will be true 'city-within-a-city' with all the amenities that make up a world-class residential destination.

DWCDWC, with infrastructure costs estimated at US $33 billion, comprises six specialized clustered zones: DWC-Al Maktoum International Airport, Dubai Logistics City (DLC), DWC Aviation City, DWC Commercial City, DWC Residential City and DWC Golf City.

DWCDWC is endorsed by the Government of Dubai and is chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Aviation City Corporation - Dubai World CentralDubai World Central, Government of Dubai.

About Dubai World CentralDubai World Central components:
DWC-Al Maktoum International Airport when completed will be the world's biggest passenger and cargo hub, with a capacity of 150 million passengers and more than 12 million tonnes of cargo annually. The airport will have six parallel runways and as many concourses with a 91 metre high control tower that will be an aviation landmark in the Middle East.

Dubai Logistics City (DLC) will be part of the world's first truly integrated multi-modal logistics platform in a single-bonded free zone environment made up of DLC, DWC Aviation City and Jebel Ali Port. It is designed as the region's unchallenged logistics hub catering to some two billion people throughout the Middle East, Indian Sub-continent, Africa and the CIS, all within three-to-four hours flying time from Dubai.

DWC Aviation City will be the region's premier centre of excellence for aviation manufacturing, MRO, aviation support services and consultancy, research and development, training, aviation products and parts and high tech industries. It is a unique concept to establish a complete aviation cluster in one area to cater to the region's aviation growth. It is strategically located to provide clients access to emerging markets as well as servicing the fast growing Middle East market.

DWC Commercial City will be DWCDWC's business and finance hub featuring several hundred high rise towers, ranging from up to 45 storeys in height. The city, expected to employ 150,000 people, will also boast 25 hotels ranging from deluxe, through to five-star, four-star and three-star properties.

DWC Residential City will include a mix of five-ten storey mid-cost apartment blocks. Up to 250,000 people are expected to live in this 'city'. A special staff village will house blue-collar workers within high-quality accommodation.

DWC Golf City will feature several golf courses with a total of 72 holes, extensive practice facilities, driving ranges, putting greens, a luxury clubhouse with restaurants and a pro-shop. Over 25,000 freehold units will surround the courses. The resort will also feature a high-end boutique hotel.

For more information on DWCDWC please contact:
Action UAE, PO Box 20970,
Dubai,
United Arab Emirates
Gladson Ronad
Tel: +9714 390 2960;
Fax: +9714 390 8161
Mob: +971 50 4533479
email: gladson.r@actionprgroup.com

Albert Alba
Tel: +9714 390 2960;
Fax: +9714 390 8161
Mob: +971 50 8498642
email: albert.a@actionprgroup.com
visit www.dwc.ae

© Press Release 2008

 

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