The Dubai Festival City (DFC) recently announced plans to build a multi-billion Dirham world-class golf course community as part of its large-scale, mixed-use development. The project is currently underway and will open by the end of 2003.
The first phase will include an initial investment of 500 million Emirati Dirham ($136.1 million) for the construction of an 18-hole recreational course and two hundred units of residential development with associated facilities.
The Al-Futtaim Investments Group had commissioned the International Management Group (IMG) to conduct a study of the golf course market in Dubai, confirming the feasibility of this project. Al-Futtaim is finalizing negotiations with Al-Naboodah Contracting for the construction of the golf course.
Dubai Festival City is the recently announced waterfront development along Dubai Creek, at the base of the Garhoud Bridge, on a 1,2000-acre site, which promises to offer a mix of entertainment, dining, shopping, marina, hotels, residential and office components. The first phase is scheduled to open in 2006. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
