The government's decision to diversify from an oil-based economy, and to make Dubai the main hub of tourists in the world, has made and other developmental projects such as Dubailand, more valuable, resulting in the property boom from 2004 to 2007. There are over 1,500 major freehold developments and communities in Dubai. Construction on a large scale is a part of Dubai Strategic Plan 2015 unveiled by Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, to maintain economic growth and to put Dubai on the map of the world, and a tourist destination of the world. Construction on a large scale has turned Dubai into one of the fastest-growing cities in the world. There are a number of large-scale projects which are currently under construction or will be constructed in the future. Due to the heavy construction which is taking place in Dubai, 30,000 construction cranes, which is 25% of cranes worldwide, were operating in Dubai in 2012. Currently multibillion-dollar construction projects are taking shape in Dubai.
Great Recession However, due to the Great Recession, several mega projects were put on hold, including the Palm Islands, Dubailand, the Arabian canal, Dubai Exhibition City, The Lagoons, and Jumeirah Garden City. Apart from this, many supertall skyscrapers have also been put on hold which includes the Pentominium, Burj Al Alam, Marina 106, and Dubai Towers Dubai. Construction on Palm Jebel Ali and The World Islands were expected to be resumed in 2010, however recommencement has been further delayed. Construction on other halted projects was thought likely to be resumed in 2011.
Recovery from the Great Recession A report published by Forbes on October 22, 2012, says Dubai recovered faster from the Great Recession faster than most other countries and now its economy is growing in a higher rate than its counterparts because of its zero tax policy and economic free zones. The estimated GDP growth rate of Dubai in 2012 was 4.5%. The growth was mainly driven by the tourism, commerce and industrial manufacturing sectors.
According to the UAE's Ministry of Finance, Dubai's government has allocated 32.3 billion dirhams ($8.8 billion) for infrastructure projects in 2012, marking a return to big spending on such projects as some of these projects had been stalled due to lack of funding.
In November 2012, Sheikh Mohammed bin Rashid Al Maktoum announced fifteen new projects worth more than $187 million. These projects are a part of the municipality's 2013 to 2015 strategic plan of Dubai.
Mixed use developments
Project Developer Expected completion Costs Area Description1Dubai MarinaEmaarComplete World's largest man-made marina, with 200 residential and hotel high rises2Nakheel PropertiesCompleteComprises 79 high-rises, mostly residential skyscrapers3Business BayDubai Properties GroupCompleteAED 110 billion (US$30 billion)80 million sq. ft.Comprises 240 high- and low-rise buildings, mostly residential and mixed-use skyscrapers.4Jumeirah Garden CityMeraasOn hold AED 350 billion 5Culture VillageDubai Propertiesmid-20166Jumeirah VillageNakheel Properties2013AED 2.4 million 7Jebel Ali villageNakheel Properties2013The city is expected to accommodate around 500,000 people.8Al Maktoum International Airport Dubai Holding2030 US $80 billionUpon completion it will be the largest airport in the world.9Dubai Creek HarbourEmaarlate 202010Dubai The Sustainable CityDiamond DevelopersComplete46 hectareThe first net zero energy city in Dubai11Dubai Investment ParkIncomplete2,300 hectaresFahy, Michael: DIP-based companies reach 4,600 as investors take advantage of park’s proximity to Expo 2020 site, July 31, 2016, The NationalIncludes the Lagoons, under development by Schön Properties since 2005; Schön's assets were seized by the Dubai Real Estate Regulatory Agency in August 2018 over the company's failure to complete the development.
Other projects
Project Developer Expected completion Costs Area Description1DubailandDubai Holding Partially under construction, 2020 US$64.3 billion Dubailand will be the world's largest retail and entertainment world, twice the size of Walt Disney World Resort. It includes 45 mega projects and 200 sub-projects. Currently, there are 22 projects under construction; 6 are complete.2Arabian CanalLimitless Halted temporarily US$50 billion 75 km long This will be the world's largest man-made canal. Construction work on Phase 1 of Arabian Canal is currently in progress, but construction on much of the Arabian Canal is currently halted.3Jumeirah Garden CityMeraas Halted US$95 billion 9,000,000-square-metre Jumeirah Garden City will be built across an area north of Sheikh Zayed Road between Diyafa Street and Safa Park.4Dubai International CityNakheel Properties Complete US$95 billion Dubai International city is a country-themed architecture of residences, businesses, and tourist attractions.5Dubai Exhibition City On hold AED 8 billion 280,000 m2 Dubai Exhibition City upon completion will home to the world's longest single column-free exhibition hall.6Dubai Meydan City Partially complete AED 8 billion 3,700,000 m2 The development includes Meydan Racecourse hotels, sky-bubble restaurant, entertainment, clubs, a concourse plaza, towers and a boat-house.7Mohammed bin Rashid City Partially complete AED 8 billion 800 million sq ft The development includes Meydan Racecourse hotels, sky-bubble restaurant, entertainment, clubs, a concourse plaza, towers and a boat-house.8Al Sufouh TramwayDubai Roads and Transport Authority (RTA) November 2014 AED 3.18 billion long Al Sufouh Tramway is a tramway being built in Al Sufouh, Dubai. It will run along Al Sufouh Road from Dubai Marina to the Burj Al Arab and the Mall of the Emirates.gulfnews.com/news/gulf/uae/traffic-transport/dubai-s-first-tram-project-taking-shape-in-al-sufouh-1.471639Dubai Frame Complete AED 160 Million 150-metre-high, 93-metre-wide Dubai Frame is a tourist attraction built near the Star Gate of Zabeel Park.10Arabian RanchesEmaar Properties Complete Arabian Ranches is a premium gated community located on Sheikh Mohammad bin Zayed Road and in proximity to Dubai's Global Village. It includes the Arabian Ranches Golf Club and Dubai Equestrian & Polo Club. [ Canada business tower in Dubai ]
Artificial reclaimed islands developments
Project Developer Expected completion Costs Area Description1Palm JumeirahNakheel PropertiesComplete$12.3 billion It is the world's largest man-made island.2Palm Jebel AliNakheel PropertiesOngoingIt will accommodate over 250,000 people by 2020. Construction resumed in 2023.3Dubai IslandsNakheel Propertiesscaled down, no official opening date announced by Will be the largest palm island in Dubai.4The UniverseNakheel PropertiesOn hold5The World Islands Nakheel Propertiescomplete, but most islands are still unoccupied$14 billion and width6Dubai Waterfront Nakheel PropertiesOn holdThe Dubai Waterfront is expected to become the largest waterfront and largest man-made development in the world.7Skydive DubaiNakheel Properties20128Dubai Maritime City Dubai HoldingCompleteAED 3 billionIt will be the world's first purpose-built maritime centre.9Jumeirah Garden CityMeraas2013AED 350 billion Some portion of this development is being reclaimed off the coast near Jumeirah.10Bluewaters IslandMeraas2018AED 6 billion Announced on February 13, 2013. the Ain Dubai (formerly the Dubai Eye) giant Ferris wheel will be built on this island. Construction is almost finished.11Dubai HarbourMeraas2022AED 8 billionAnnounced on January 2, 2017. Palm Jumeirah Logo Island Construction Dubai Harbour and Emaar Beachfront by Emaar.12The Island by WaslWasl Asset Management Group2028AED 10 billionAnnounced in March 2017. Porto Dubai cancelled construction Jumeirah Beach MGM Resort, Bellagio Hotel 1,000 rooms and 500,000 square.13Naia IslandShamal Holding2029Announced in June 2025. Shamal Holding development islands name Naia Island.
Bridges
Project Developer Expected completion Costs Length Description 1Sheikh Rashid bin Saeed Crossing Dubai Roads and Transport Authority75% completed as of 20222.5 billion dirhams It will be the world's longest arch bridge. 2Al Ittihad BridgeDubai Roads and Transport Authority Completed in 2012 810 million dirhams 300 meters
Notes A. Construction is currently on hold due to lack of finances. B. Project is currently in planning stages. C. Only 22 out of 200 sub-projects of Dubailand are under construction. D. Approved; construction will start in April, 2013.
See also Dubai Real Estate Regulatory Agency List of buildings in Dubai List of hotels in Dubai List of shopping malls in Dubai Tourist attractions in Dubai
References
External links Mall of the World: World's First Temperature Controlled City - Dubai announced Mall of the World project on June 5, 2014.