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FINANCIAL NEWS
UAE’s Nakheel to establish artificial reefs
24 Nov 2011
(MENAFN) Nakheel’s chairman, Ali Rashid Lootah, said that in order to stimulate Dubai’s marine environment, the real estate developer would establish 500 artificial reefs of the coast of Dubai, reported Gulf News.
Lootah added that the reefs would attract large populations of fish, since some of the company’s projects, including Palm Jumeirah and The World, affected the marine environment and led to a loss of traditional fishing grounds.
He also said that the project, which would take almost one year to complete, would cover the entire coastline of Dubai, moreover, fishing activities would be allowed only in a small percentage of the site to ensure fishery resources are not over-exploited.
It is worth noting that the project is developed in collaboration with Dubai Municipality and the Emirates Marine Environmental Group (Emeg).
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05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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