These zones include shopping, dining, hotels, residential, offices, hotels and a golf course. The focus is retail with four of the zones designated for shops.
Ikea plans to use Dubai Festival City as its Middle Eastern flagship location. Marks & Spencer has signed for a 65,000-sf store and Toys 'R' Us for 40,000 sf. Rents are undisclosed but the first phase is believed to cost more than US$1.5 billion, privately provided by the Al-Futtaim Group, a family company run by father and son Abdullah and Omar Al Futtaim. That phase, including the golf course will be complete by the end of next year. The first of the retail element will open in 2006. Total build time is 10 years.
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