Core Dubailand project to open in 2016

by -
1159
Reading Time: 1 minute

DubailandThe developer of the 50-million square feet project Al Sahara Kingdom, a hotel and entertainment project in Dubailand, has revealed that it should open “in a couple of years”, likely in 2016. Saudi Al Hokair Group’s project is one core development in Dubailand, the delayed real estate development backed by Dubai Properties Group.

The project was to include two four-star hotels – to be run by Al Hokair-owned MENA Hotels & Resorts, an indoor theme park, restaurants, residential areas and a retail souk. However, it was delayed during the financial crisis, along with most of the developments planned for Dubailand. Works on the project resumed in 2013.

Dubailand was one of the Gulf emirate’s most ambitious developments, announced at the height of the real estate bubble. The resort was originally slated to be twice the size of Walt Disney World, and was reportedly worth $91 billion at its peak. It was placed on hold after the financial crisis triggered the near-collapse of Dubai’s real estate market in late-2008.

Dubai Properties Group has taken over Dubailand from Tatweer as the entire complex has not seen construction in years. US companies Six Flags and DreamWorks have dropped out of their projects, losing interest in the site.

In September of 2012, Dubai Properties Group announced the revival of the Mudon residential community project, estimating the completion of the project at around 18 months. Construction on the site resumed in early 2013, with the 72,000 square-meter Dubai Miracle Gardens opening at the beginning of March 2014.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

The developer of the 50-million square feet project Al Sahara Kingdom, a hotel and entertainment project in Dubailand, has revealed that it should open “in a couple of years”, likely in 2016. Saudi Al Hokair Group’s project is one core development in Dubailand, the delayed real estate development backed by Dubai Properties Group.

Reading Time: 1 minute

DubailandThe developer of the 50-million square feet project Al Sahara Kingdom, a hotel and entertainment project in Dubailand, has revealed that it should open “in a couple of years”, likely in 2016. Saudi Al Hokair Group’s project is one core development in Dubailand, the delayed real estate development backed by Dubai Properties Group.

The project was to include two four-star hotels – to be run by Al Hokair-owned MENA Hotels & Resorts, an indoor theme park, restaurants, residential areas and a retail souk. However, it was delayed during the financial crisis, along with most of the developments planned for Dubailand. Works on the project resumed in 2013.

Dubailand was one of the Gulf emirate’s most ambitious developments, announced at the height of the real estate bubble. The resort was originally slated to be twice the size of Walt Disney World, and was reportedly worth $91 billion at its peak. It was placed on hold after the financial crisis triggered the near-collapse of Dubai’s real estate market in late-2008.

Dubai Properties Group has taken over Dubailand from Tatweer as the entire complex has not seen construction in years. US companies Six Flags and DreamWorks have dropped out of their projects, losing interest in the site.

In September of 2012, Dubai Properties Group announced the revival of the Mudon residential community project, estimating the completion of the project at around 18 months. Construction on the site resumed in early 2013, with the 72,000 square-meter Dubai Miracle Gardens opening at the beginning of March 2014.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid