Emaar Properties said it's signed a memorandum of understanding with Dubai World Central to develop an integrated urban centre and golfing destination at the location of the Expo 2020 site on Wednesday.
The project could be the first of the key infrastructure development Dubai properties to be declared following the UAE's winning of the World Expo 2020 hosting bet.
The creation will likely be spread over a place of 13.63 million sq m together with the initial period of the project to include a golf-course apartment community, several resorts, a high-end retail center, leisure sights, plus a business hub that encourages youth entrepreneurship.
The project could be the first of the key infrastructure development Dubai properties to be declared following the UAE's winning of the World Expo 2020 hosting bet.
The creation will likely be spread over a place of 13.63 million sq m together with the initial period of the project to include a golf-course apartment community, several resorts, a high-end retail center, leisure sights, plus a business hub that encourages youth entrepreneurship.
"The new development reflects the requirement for further strategic Dubai properties that can satisfy the expanding need for luxurious residences resulting from the on-going rise in the number of senior investors, professionals and employees at Dubai World Central," a declaration stated.
Sheikh Ahmed added: "Through the joint venture with Emaar, we really look forward to gain from Emaar's specialization and experience they have demonstrated to produce truly world class projects.
"In the forthcoming future, Dubai World Central may experience several new projects to construct an integrated city."
Alabbar said: "We are grateful to the Dubai Government as well as the Dubai Aviation City Corporation for the chance to be part of the ambitious improvements that will completely provide our city to host the Whole World Expo 2020.
"It is significant that the town farther builds its retail, food and residential facilities to match the anticipated demand. With numerous hotels and retail choices, in addition to a separate villa community place around a golf course, the new Dubai properties will be another sterling addition to Dubai's mega developments for future years."
The crucial factors in the design and building of the development will be sustainability, among the sub-themes of the World Expo 2020. Energy efficient building systems may be incorporated into project development, and green building techniques followed, the statement added.
Sheikh Ahmed added: "Through the joint venture with Emaar, we really look forward to gain from Emaar's specialization and experience they have demonstrated to produce truly world class projects.
"In the forthcoming future, Dubai World Central may experience several new projects to construct an integrated city."
Alabbar said: "We are grateful to the Dubai Government as well as the Dubai Aviation City Corporation for the chance to be part of the ambitious improvements that will completely provide our city to host the Whole World Expo 2020.
"It is significant that the town farther builds its retail, food and residential facilities to match the anticipated demand. With numerous hotels and retail choices, in addition to a separate villa community place around a golf course, the new Dubai properties will be another sterling addition to Dubai's mega developments for future years."
The crucial factors in the design and building of the development will be sustainability, among the sub-themes of the World Expo 2020. Energy efficient building systems may be incorporated into project development, and green building techniques followed, the statement added.