Jul 15 2018   | Source: .tradearabia.com 

Nakheel announces opening of key phase of $109m road project

Master developer Nakheel has announced the opening of Phase One of a Dh400-million ($109 million) roads scheme being developed by Dubai's Road and Transport Authority (RTA) at International City.

The project, funded by Nakheel to the tune of Dh201 million, will help improve traffic flow, reduce journey times and boost safety in the area, said a statement from the Dubai developer.

The scheme includes road widening, new interchanges and signalised junctions in and around Dragon City, International City and Warsan Village, where more than 110,000 people live and over 200,000 visit each day, it added.

Traffic studies by Nakheel show that more than 182,000 vehicles currently move in and out of the area every day - a figure which is set to grow as expansions at International City and Dragon Mart continue.

Nakheel is also exploring further traffic enhancement schemes – such as increased parking – within International City.

Dragon City, located on the north-eastern edge of International City, boasts a growing collection of retail, commercial, residential and hospitality components.

The 11-million-sq-ft development is home to Dragon Mart, the world’s largest Chinese retail and trading hub outside China, and its sister mall, Dragon Mart 2, which opened in 2015, with a Phase Three retail showroom and car-park complex nearing completion.

Nakheel’s first hotel – an ibis Styles with 251 rooms – opened at Dragon City in 2016 and a 304-room Premier Inn will open next year.

Lauding RTA for the timely completion, Nakheel chairman Ali Rashid Lootah said: "The project is essential to the overall, long-term masterplan at International City, thus bringing major benefits to existing residents, business owners and visitors in the short-term, and paving the way for the future growth of the area."

Meanwhile, the Dubai developer is studying construction proposals for a twin-building residential project at Dragon City, a sprawling mixed-use master development in Dubai. The 1,142-apartment Dragon Towers is set to break ground in the third quarter this year.

 

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