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Dubai Maritime City launches six new projects

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Dubai's vision as a global maritime hub took another major step forward
today with the launch of the mixed-use Business District at Dubai
Maritime City (DMC) under the patronage of HH Sheikh Ahmed Bin Saeed Al
Maktoum.

Senior company executives, government officials,
representatives of developers participating in the project, and special
invitees, were present the grand inaugural ceremony on DMC's 227-hectare
man-made peninsula between the Drydocks World and Port Rashid.

Work
will begin on six new projects in the Business District, keeping in
step with the launch. Project mobilization and commencement of
construction is expected towards the end of 2012.

The 121-hectare
Business District, estimated to cost around AED2.5billion, is at the
heart of the visionary DMC project and complements the Marine Industrial
District Operation inaugurated earlier this year under the first of the
three phase development.

It will serve as the main business
growth engine of DMC, accounting for nearly 90% of its projected total
income in 2013. It includes a maritime centre, harbour offices and
residences, a marina, an academic quarter and a hotel.

HH Sheikh
Ahmed Bin Saeed Al Maktoum, Chairman, Dubai World, said: "Dubai Maritime
City represents the vision set for Dubai as a hub that offers a unique
environment for the global maritime community to grow and develop.

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