His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and chairman of Dubai Municipality, has approved AED1.3bn for the implementation of the first stage of the rainwater and groundwater drainage project for the Al Maktoum Airport area, the Expo 2020 area and the nearby urban complexes covering 400sqkm.

Eng Hussain Nasser Lootah, director general of Dubai Municipality, said that the approval of the project confirms the keenness of the government to provide all the requirements of the city of projects that serve the vision and mission of the emirate’s ambitious future to maintain its status as a global destination with all modern components of a global city.

Lootah reiterated that he and his Dubai Municipality team are keen to meet all the needs of the society in accordance with the strategic mission and vision of the Government of Dubai and to implement these projects in accordance with the finest and best international standards adopted in this field.

Read the full article on Construction Business News.

Kleindienst Group on Monday launched The Floating Venice, the world’s first underwater luxury vessel resort to be built off Dubai’s coastline.

Valued at AED2.5 billion ($680 million), The Floating Venice will be located in The World islands, 4km offshore from Dubai and will bring an authentic Venetian experience to the Middle East, the developer said in a statement.

This floating resort has a capacity of up to 3,000 guests daily, with accommodation, restaurants and recreation split over four decks, one of which is underwater.

Guests will arrive by boat, seaplane or helicopter to the main Piazza San Marco where they can check-in at the underwater lobby. Gondola’s imported from Venice will transport guests to their cabins through the winding canals, or alternatively a short stroll through canal side walkways and bridges will take them to their awaiting cabins.

Read the full article on Arabian Business.

Arada has revealed plans to award the main contract for Phase 1 of its $6.5 billion (AED24bn) Aljada megaproject in January 2018.

The developer said that it would float the main construction tender for Phase 1 of the Sharjah community in November 2017.

Construction works are due to commence in Q1 2018, and the development’s initial phase will be delivered before the end of 2019, Construction Week reports.

Spread across an area of 2.2km2, and boasting a total population of approximately 70,000 people, Aljada looks set to become Sharjah’s largest ever real estate development.

Ahmed Al Khoshaibi, CEO of Arada, told Construction Week that that the community would include a total of 800 buildings upon completion.

Read the full article on Arabian Business.

Nakheel, the Dubai-based master developer, has said that it will announce a range of projects – collectively worth more than $871 million – at Cityscape Global 2017.

In a statement, the developer said that it will launch six new residential, retail and hospitality developments at four of its communities in Dubai, including its flagship Palm Jumeirah project.

Nakheel’s current project portfolio spans more than 15,000 hectares and accommodates more than 270,000 people. It added that it has more than $13.6 billion worth of projects underway in terms of infrastructure and construction costs, while it has awarded construction contracts worth $1.90 billion so far this year, with that figure likely to exceed $3.26 billion by the end of the year.

“As the creator of the globally-famous, award-winning Palm Jumeirah and other iconic projects that have put Dubai on the global map, the Nakheel name is synonymous with current and future developments that will further enhance the city’s position as a world-leading location for living, leisure, business and tourism,” said Ali Rashid Lootah, Nakheel chairman.

Read the full article on ME Construction News.