First phase of Dubai’s Jumeirah Central project to cost AED 24 bln

The first phase of Jumeirah Central in Dubai is expected to cost AED 24 billion, with total cost of the megaproject estimated at AED 73.4 billion, UAE-based newspaper The National reported.

The first phase will include about 69 projects on an area of 17 million square feet representing 36 percent of total built-up area.

This stage will include a flagship office tower, one of the project’s three malls, 3,000 apartments, 15 hotels, 12 office projects and five parks and plazas.

Morgan Parker, chief operating officer of the project, said that site clearance work is already under way and that infrastructure packages would be brought to the market soon.

Construction work on the first buildings is set to start next year, and should be complete by 2020-21.

The district will be Dubai’s first climate-controlled, sustainable and walkable district, the developer said. It will also include mixed uses, such as student and worker accommodation.