Al Habtoor, RTA discuss Canal project plans
Dubai, November 5, 2012
Al Habtoor Group, a major diversified conglomerate, and Dubai’s Roads and Transport Authority (RTA) recently discussed plans for RTA’s Business Bay Canal Project.
The plan was recently endorsed by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
Mattar Al Tayer, chairman of the Board and executive director of the RTA and other top senior executives were received at the Al Habtoor Group Headquarters by Sultan Al Habtoor, vice chairman; Mohammed Al Habtoor, vice chairman & CEO; Mohammed Al Mazrooei, managing director; Yusef Shalabi, director of Projects & Real Estate and Martyn Wild, project director.
The meeting was also attended by Khalaf Al Habtoor, chairman of the Group.
The RTA and Al Habtoor Group reached an understanding to collaborate on current projects underway in the canal in the Dubai Business Bay, a statement said.
The Al Habtoor Group is currently developing the Habtoor Palace on Sheikh Zayed Road, which will incorporate three hotels – including the first luxury St Regis Hotel in Dubai, a W hotel and a Westin hotel. The development will add more than 1,600 rooms and be among the largest hotel complexes in the Middle East.
The RTA recently announced plans to extend its Business Bay Canal Project which will comprise of modifications to the existing roads and bridges to extend the Canal from the Sheikh Zayed Road up to the beach.
It will pass by the Habtoor Palace project, due for completion in 2015. The Canal, which will stretch 2.8 kilometers, will take two years to complete. It will cross the Sheikh Zayed Road and pass through Safa Park, Wasl Road, Jumeirah 2 and Jumeirah Road.
Khalaf Al Habtoor said, “The Al Habtoor Group and RTA will cooperate to ensure the projects work in unison.”
“The Habtoor Palace, once complete, will be a new landmark for tourists and UAE residents alike. It is very exciting that the Canal project and Habtoor Palace will both be completed around the same time. It will offer something very unique to the region.”
The RTA said the Dh2 billion ($544.3 million) Business Bay Canal extension project will begin by the first quarter of 2013. Project contracts will be awarded by the end of this year.
At the end of the meeting Mattar Al Tayer presented Khalaf Al Habtoor with a trophy entitled ‘Building the future together,’ symbolic of their cooperation. - TradeArabia News Service