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Tuesday, May 08, 2007
Dubai is to have the world's biggest shopping complex in the world, United Arab Emirates (UAE) Prime Minister Sheikh Mohammed Rashid Al Maktoum said.
The launch of the world's largest shopping area in Bawadi, will provide support to the tourism and hospitality industry, in which will also play a major rolre in the diversification and development of Dubai's economy.
Mohammed Rashid, who is also the Ruler of Dubai said the growth potential of Bawadi and the significant contribution it would make to Dubai's strategic plan 2015, Emirates news agency (WAM) reported.
The world's largest shopping area will offer over 40 million square feet of gross lease-able area (GLA).
The shopping area will consist of shopping malls, boutique malls, street shopping and an underground shopping area connecting all Bawadi's elements to become the longest shopping boulevard.
Bawadi will be home to the world's biggest area, including a 10km long hotel and shopping, entertainment, convention centres and residential complexes. The components will be integrated with a number of additional services that will provide support to Bawadi's community.
Mohammed Al Gergawi, Executive Chairman of Dubai Holding, said: "Bawadi will provide the largest shopping area in the world, linked to 31 hotels ranging from 3 to 5-star.
It will represent a significant platform in the development of tourism in the emirate and will underline Dubai's status as one of the world's premier family destinations.
Launched in May 2006, Bawadi will add 31 unique hotels to Dubai's hospitality sector over the coming years, offering more than 29,000 rooms.
The centrepiece of the development will be Asia Asia, providing 6,500 rooms, shopping mall, entertainment and convention facilities.
"Bawadi already has confirmed commitments from a number of renowned regional and international investors to develop world class unique hotels," Al Muntafiq said.
He also confirmed that initial road works on the 10km Al Qudra Road is complete and the remaining infrastructure work is on schedule.
The launch of the world's largest shopping area in Bawadi, will provide support to the tourism and hospitality industry, in which will also play a major rolre in the diversification and development of Dubai's economy.
Mohammed Rashid, who is also the Ruler of Dubai said the growth potential of Bawadi and the significant contribution it would make to Dubai's strategic plan 2015, Emirates news agency (WAM) reported.
The world's largest shopping area will offer over 40 million square feet of gross lease-able area (GLA).
The shopping area will consist of shopping malls, boutique malls, street shopping and an underground shopping area connecting all Bawadi's elements to become the longest shopping boulevard.
Bawadi will be home to the world's biggest area, including a 10km long hotel and shopping, entertainment, convention centres and residential complexes. The components will be integrated with a number of additional services that will provide support to Bawadi's community.
Mohammed Al Gergawi, Executive Chairman of Dubai Holding, said: "Bawadi will provide the largest shopping area in the world, linked to 31 hotels ranging from 3 to 5-star.
It will represent a significant platform in the development of tourism in the emirate and will underline Dubai's status as one of the world's premier family destinations.
Launched in May 2006, Bawadi will add 31 unique hotels to Dubai's hospitality sector over the coming years, offering more than 29,000 rooms.
The centrepiece of the development will be Asia Asia, providing 6,500 rooms, shopping mall, entertainment and convention facilities.
"Bawadi already has confirmed commitments from a number of renowned regional and international investors to develop world class unique hotels," Al Muntafiq said.
He also confirmed that initial road works on the 10km Al Qudra Road is complete and the remaining infrastructure work is on schedule.
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It is unclear how much Al Ghurair will be investing in the project.
Al Ghurair Investment is credited with setting up the first shopping mall in the Arab world - the Al Ghurair Centre in Dubai.
The new mall is part of the world's largest shopping area, which will offer over 40 million square feet of gross lease-able area.
The shopping area will consist of shopping malls, boutique malls, street shopping and an underground shopping area connecting the Dh200 billion hospitality and leisure zone to become the longest shopping boulevard.
Phase one is set to be completed by 2012, and will cover a gross leasable area of four million square feet within Bawadi.
"This agreement highlights our confidence in Bawadi as one of the most desirable investment opportunities. It also underlines the active role Bawadi will play in meeting the tourism and commercial objectives of the recently announced Dubai Strategic Plan," said Abdullah Al Gurair, Chairman, Al Ghurair Investment.
The innovative and uniquely designed shopping mall will be one of the largest within the biggest shopping area in the world, and will add a new dimension to the variety of services and facilities, Bawadi said in a statement yesterday.
This new project is Al Ghurair's second investment in Bawadi according to Saeed Al Muntafiq, executive chairman of Tatweer.
An agreement yesterday between Bawadi and Gantoot was signed by Arif Mubarak, chief executive officer of Bawadi, and Saqer Bin Daen, chairman of Gantoot Star General Trading.
Pirates Cove Hotel and Resorts will be one of the 31 thematic hotels currently under development at Bawadi.
The Four-Star rated development will have 800 rooms and six restaurants offering pirate shows, antique exhibitions, jewellery displays and auctions that transport visitors to a time when "skull and cross-bone" black-flagged ships ruled the waves.
Saqer Bin Daen, chairman of Gantoot, said, "Our privileged partnership with Bawadi marks a significant step for Gantoot in the hospitality sector. Aware of the high level of proficiency that Bawadi expects of any vendor, Gantoot will leverage its vast experience from diverse business sectors to create a distinctive tourist landmark in Dubai."
Bawadi, the Dh100 billion hospitality and tourism development project representing a unique fusion of culture, history and leisure, was launched on May 1 by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
Mubarak said, "Bawadi's alliance with Gantoot Star is a win-win equation. A highly diversified group that is currently witnessing phenomenal growth, Gantoot Star will add immense value to the overall offering of Bawadi."
Over the next eight years, Bawadi projects will double the current number of hotel rooms in the city.
At the centre stage will be the world's largest hotel, Asia-Asia, which alone will have 6,500 rooms.