Dubai ruler reveals plan for mothballed second palm-shaped island

3 months ago 1

Dubai’s ruler connected Wednesday announced a caller program for the Palm Jebel Ali, a man-made palm-shaped land that has been dormant since 2009 pursuing a existent property crash, and is treble the size of the functioning Palm Jumeirah.

"Its visitors and tourists volition bask much than 80 hotels and resorts that supply beauteous tourer experiences," Sheikh Mohammed bin Rashid Al Maktoum, who is besides vice president and premier curate of the UAE, said connected Instagram.

The existing Palm Jumeirah is 1 of the astir sought-after areas successful Dubai and a favourite of Russians who person flocked to the emirate pursuing the struggle successful Ukraine, contributing to a reddish blistery spot market.

State-owned institution Nakheel, which was taken implicit by the authorities successful 2011 arsenic portion of a $16 cardinal (10 cardinal pounds) rescue program successful the aftermath of Dubai’s 2009-2010 existent property crash, is the developer of the islands.

Nakheel successful November secured 17 cardinal dirhams ($4.63 billion) successful financing arsenic it accelerates plans for caller waterfront projects including Dubai Islands, different man-made land task formerly known arsenic Deira Islands.

The existent property marketplace successful Dubai, the Middle East's fiscal and tourism hub, began its betterment successful aboriginal 2021 arsenic the authorities moved to rapidly reopen its system and airports.

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