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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Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
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BBK discloses its financial results for the first quarter ended 31st March 2025
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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