Dubai Creek plans signal market upswing

20 December 2012

Dubai is hoping that the next phase of its creek expansion programme will act as a catalyst for new projects

Circulating the waters of the Dubai Creek has been talked about for years. Older contractors in the emirate recount meetings with former Dubai ruler Sheikh Rashid bin Saeed al-Maktoum in the 1980s to discuss the issue.

The solution considered back then was a pipeline leading out to sea to flush out the stagnant waters of the Ras al-Khor area. In 2004, the answer changed when details were released of a sprawling new development that would involve extending the creek out into the Gulf, and acting as a catalyst for a major new waterfront development known as Business Bay.

With the first part of the creek extension taking the water up to Sheikh Zayed road complete, and many of the Business Bay towers finished, it is time to start the next phase, and in early December the Roads & Transport Authority tendered the first construction package.

Following a four-year delay, the tender shows that Dubai once again has confidence in its real estate sector. After considering a cheaper alternative using pipelines, the government opted for the more expensive option that it hopes will serve as a catalyst for new projects, just as the extension through Business Bay did in 2004.

With property prices rebounding and developers selling off plan once more, Dubai clearly feels the market is about to take off again, and projects like the creek extension together with the recently announced Mohammed bin Rashid City development will give potential investors a wide range of exciting projects to choose from.

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