Dubai World Central, an emerging 145 square kilometres city within the emirate, has been renamed as Dubai South. Launched in 2006 as a government of Dubai project, the city hosts the Al Maktoum International Airport that is expected to be the world’s largest airport once it undergoes a $32bn expansion. The city also hosts the Dubai Airshow and will be the site for the World Expo in 2020.
Dubai South is expected to eventually house a million people and support around half a million jobs.
Part of Dubai’s urbanisation strategy, the city has various business districts within the development across sectors such as aviation and logistics. The government has also invested heavily to attract businesses to set up within the development.
A number of hoteliers have also announced new projects within the development as they eye increasing traffic from the Al Maktoum International airport.
In May 2015, the city’s authority said that it signed agreements to develop three international hotels Aloft, Studio M and Millennium, which are to be located close to the airport. The hotels are scheduled for completion between 2018 and 2019 and will collectively add 1,300 rooms to the development.
Real estate firms have also announced projects within the development.
Dubai-based property group MAG 5 and MBM Holding recently launched a new affordable residential project called MAG 5 Boulevard in Dubai South. Aiming to appeal to those working in the community, the Dhs 700m project will have 1,000 residential units.
Source: Gulf Business