Jumeirah Garden City, a new project for Dubai
7 October 2008
Meraas Development, new real estate holding company run by the government of Dubai, announced a reconstruction project with an investment of EUR 70 billion.
The announcement was made at the opening of Cityscape, one of the most important building exhibitions in the world. The project, called Jumeirah Garden City, will sprout from the rubble in Satwa, a historical neighbourhood on the coast of Dubai that has been run down for years, and will be a sort of extension of current Jumeirah, waterfront zone where Burj-al-Arab is located.
The demolition of the old villas in the area has already started a few weeks ago.
The project is expected to be completed in 2020.