Mixed-use schemes fully integrated into Route 2020
The Dubai Roads & Transport Authority (RTA) has identified at least three potential locations for a transit-oriented development (TOD) along the Dubai Metro Route. These are in Al-Nahda, Salah el-Din, and the ADCB station.
TODs are also fully integrated into the Dubai Route 2020, Muna al-Osaimi, director for Rail Planning and Projects Development at the RTA, told a conference in Dubai on 26 April.
TODs commonly consist of mixed-use schemes designed to increase the use of public transportation.
The first TOD in Dubai, the 95,000-square-metre Union Oasis, which is being built above the underground station where the Green and Red lines meet, is currently in the bidding phase, according to Al-Osaimi.
If combined with other policies, the TOD concept could help expand the emirates economic base, saysAl-Osaimi.
She added that many developers have approached the RTA to develop the land near the train stations.
Apart from being the first TOD in Dubai, Union Oasis is also the first project to be procured under the emirates recently approved public-private partnership (PPP) law.
It is understood the RTA will soon complete the prequalification phase for the project. Union Oasis has undergone some delays in the past and the RTA has recently decided to offer minimum revenue guarantee to encourage more investors and developers to participate in the project.
The minimum revenue guarantee required from the RTA, which will be calculated against the maximum revenue forecast model made by the participating developer, is now a biddable parameter, Ayman Abutaleb, financial expert at the RTAs CEO office, told MEED in March. This means the bidder that requires the lowest guarantee from the transport regulator will likely win the tender.
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