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FINANCIAL NEWS
DM to finish Phase 1 of USD9.5b Desert Rose in 2015
21 Sep 2014
(MENAFN) Dubai Municipality (DM) announced it is planning to finish Phase 1 of its USD9.5 billion Desert Rose project within a year’s time, Emirates 24/7 reported.
The planning and urban development of the smart and sustainable city in Dubai is completely finished, with the design works, infrastructure, superstructure, and sustainability ready and approved by DM.
The project is expected to be worked on by seven companies and will have a total area of 14.000 hectares and could be developed in four phases.
“So far, we have awarded only one contract for infrastructure design. The rest, including superstructure, energy management, facilities, waste management, mobility, and connectivity, are either in tendering or evaluation stage. Within a year, we will award all the remaining design contracts,” DM said in a statement.
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