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$95B Jumeira Gardens Is Under Way

DUBAI-Meraas Development is launching its massive 12-year, mixed-use project, which is set to deliver its first set of buildings by 2011.

By Ryan Clark | Updated on October 07, 2008

[IMGCAP(1)]DUBAI-Merass Development is beginning work on Jumeira Gardens, a 12-year, mixed-use project estimated at Dhs350 billion or roughly $95 billion. The locally based developer has currently begun the first phase of this project, which will cover 820,000 square meters, or just more than 202 acres.

The project will consist of mixed use, freehold and leasehold development with low, medium and high-density areas of business, residential, retail, leisure and recreational components. Jumeira Gardnes is planned for the area north of Sheikh Zayed Road between Diyafa Street and Safa Park. A canal will run through the center of the development from the Business Bay Canal to the sea.

“We will leverage our subsidiaries” expertise in healthcare, education, retail and leisure, says H.E. Abdulla Ahmad Al Habbai, chairman of Meraas Holding, in a statement. The development will integrate sustainability into many aspects of the project, aiming for LEED certification.

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