Dubai’s famed Bawadi project, which was put on hold during the Global Economic Crisis, is set to be revived.
The tourism-focused mega development, which was set to cover an area bigger than US desert city Las Vegas, will be rejuvenated by master developer Dubai Holding and developer Emaar.
Bawadi, part of Dubai Properties’ Dubailand scheme, was pitched as the largest hospitality and leisure development in the world, with an estimated cost of AED100 billion ($27.2 billion on today’s rates) when it was first announced in 2007.
The UAE’s state news agency WAM reported at the time that it was to be developed by a 50:50 joint venture between Bawadi, which is part of Tatweer, a subsidiary of Dubai Holding, and Emaar Properties.
The scheme was shelved when the recession hit, but in an interview with Dubai newspaper Emirates247 this week, Dubai Holding’s CEO Fadel Al Ali revealed the project would be revived soon.
“The Bawadi project, a joint venture between Dubai Holding and Emaar, is currently in its early stages and progress will be communicated in due course,” he was quoted as saying.
When announced in 2007, Bawadi was envisaged as a hospitality mega development featuring the longest chain of luxury hotels in the world.
Built along a 10-kilometre-long stretch in Dubailand, close to the Arabian Ranches residential development, it was to feature 51 luxury hotels offering some 60,000 rooms.