Sheikh Hamdan bin Rashid Al Maktoum, UAE Minister for Finance and Industry, Deputy Ruler of Dubai and Chairman of the Dubai World Trade Centre on Monday approved a AED 16 billion masterplan for the enhancement and development of the Dubai World Trade Centre (DWTC) Complex.
The plan was approved during the meeting of the Board of Directors of DWTC chaired by Sheikh Hamdan. The plan involves a major redevelopment and enhancement of the present DWTC Complex to include a state-of-the-art convention centre, office and residential towers, hotels and hotel apartments and shopping facilities over a period of 7-10 years.
Sheikh Hamdan also directed the DWTC Board to increase the current exhibition capacity at the Dubai International Convention and Exhibition Centre by 30% within a year from now, in order to meet the surging demand for exhibition space.
The new development will complement DWTC's plans in developing the Dubai Exhibitions City, which forms an important part ofo the World Central project at Jebel Ali. The Exhibition City will provide 120,000 square metres of exhibition space upon completion of phase one in 2009.
"Both projects will provide a tremendous boost to Dubai's position as the main conference and exhibitions hub for the region and a leader in the MICE industry. Dubai has cemented its position as the premier Middle East conference and exhibitions centre. I confidently expect this development to enjoy a tremendous response from exhibitions and conventions organisers worldwide and will play a big part in Dubai's and UAE's success story," Sheikh Hamdan said.
Apart from the new convention centre, designed to be the most technologically advanced in the world, the project will add to the number of available hotels and hotel apartments in the city and will increase Dubai's capacity to hold world-class meetings and conventions. It will also include the Landmark Tower to be situated on Sheikh Zayed Road by the Emirates Towers, shopping outlets, residential complexes, parking facilities and links to the advanced Dubai Light Rail metro system.
