DSC development in Dubai set to launch major retail expansion

29/08/2014 02:24 AST

The $4 billion Dubai Sports City (DSC) development in Dubai is set for a major retail expansion, its chief financial officer said.

Vijay Sajjanhar said the current focus is firmly on developing the retail side of the 50 million sq ft site in Dubailand now that the measures put in place to ensure delivery of residential plots in the wake of the 2008 global financial crisis have worked. “But now as the population has grown and the number of visitors has grown it’s very important for us to have the right kind of mix within the community,” he added. “That’s the reason why we started focusing on retail.”

This has led to a concerted push to develop the conjoined Canal Promenade and Canal Residence West located on the east side of DSC.

At the former, a 1.5km pedestrian walkway running alongside the 1.2km man-made canal (as yet unfilled) is to be completed in the next 12 months, while fit-outs for four retail spaces are under way.

Sajjanhar said the walkway is an essential part of the area as it provides a scenic link between the north hub and the south hub, where the former will have two retail levels (250,000 sq ft) around the canal plus office and residential above.


The Gulf Today

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Recent News

Saudi Public Investment Fund signs agreement with Six Flags to create amusement park in Riyadh

05/04/2018

Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa

Arab News

Green energy drive will boost KSA employment: Saudi Arabia’s renewable energy chief

05/04/2018

In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.

A massiv

Arab News

Dubai house prices, rents drop in first quarter of 2018

05/04/2018

Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices

The National

Saudi Arabia lifts GCC index buoyed by strong oil prices

05/04/2018

Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re

Times of Oman

Banks’ real estate credit at QR147.7bn

05/04/2018

Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i

The Peninsula

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap