Nakheel's newly-announced, 11 million sq.ft Dragon City project in Dubai will play a key role in further boosting trade links between the UAE and China, according to Chang Hua, the People's Republic of China‘s Ambassador to the UAE.
Hua's comments came during a visit to Nakheel's Dubai headquarters, where large-scale models of Dragon City and other new Nakheel projects are on display. The projects were endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice- President and Prime Minister of the UAE and Ruler of Dubai, last week.
Nakheel chief executive officer Sanjay Manchanda, said: "Dragon City will build on the phenomenal success of Dragon Mart. We are creating a vast, mixed-use community that will open up more opportunities for trade between the UAE and China, and provide new facilities for Dubai's residents and visitors, including the growing Chinese population here.” Dragon Mart — already the largest Chinese trading hub outside mainland China — is to undergo a 6.5 million sq.ft. extension with retail and residential components. The expansion includes a 2.2 million sq.ft. retail complex with nearly 1.3 million sq.ft. of leasable space; a two-tower residential component with 1,120 one and two bedroom apartments; and a 250-room hotel.
This new expansion project complements the existing, 2.95 million sq. ft. Dragon Mart extension which includes a mall, car park and hotel. Dragon City will eventually span 11 million sq. ft.
Source: Khaleej Times