|Real Estate News|
The city yesterday unveiled a 75-km canal that will reshape the southern part of Dubai and transform the massive Jebel Ali landmass into an island.
New Dubai’s latest mega-project, Arabian Canal, will be one of the world’s biggest and most expensive engineering feats, costing $61 billion (about Dh224 billion).
The giant project will be built in two parts - an $11 billion, 75km canal which will snake from the Palm Jebel Ali to the Palm Jumeirah and a $50 billion “city within a city” that will cover 20,000 hectares along the canal’s southern flank.
Developed by Limitless, the global real estate arm of Dubai World, the project will transform the arid terrain that stretches from the outskirts of New Dubai to Jebel Ali.
“Arabian Canal will, without question, be one of the wonders of the engineering world,” said Saeed Ahmad Saeed, chief executive officer of Limitless.
Up to 150 metres wide and six metres deep, the canal will flow inland from Dubai Waterfront, passing to the east of the new Dubai World Central International Airport before turning back towards Palm Jumeirah.
At a glance
* 75km is the total length of the Arabian Canal
* $11b is the cost of the first phase of the project
* $50b is the expenditure for the second phase
* 2010 is the year of completing the entire canal project
Source - Gulf News