UAE businessmen invest $735 million into Dubai Sports City
The Dubai Tourism Projects Development Company has signed a contract valued at more than 2.7 billion Emirati dirhams ($735 million) with a consortium of three United Arab Emirates (UAE) businessmen, who will build an 80 million square feet Dubai Sports City, part of the Dubailand project.
The investors are Abdul Rahim Al-Zarooni, Abdul Rahman Falaknaz and Abdul Rahman Bu Khater. Al-Zarooni, President of Al-Zarooni Group, said the “Dubai Sports City project includes cricket, rugby, football, field and track and indoor sports such as basketball, handball, volleyball alongside many complementing facilities varying from golf and cricket academies to other facilities of such kind.”
Al-Zarooni also pointed out that the city would include an outdoor multi-purpose stadium with a capacity of 25,000 people. It is designed to host international matches and championships of football and rugby and will be attached to a football academy.
The facilities will include a hotel, track fields for running and bicycle competitions, shopping malls, cinemas and stores, medical clinic and other services. Located on the upper west side of Dubailand, the project will have a golfing development with an 18-hole championship course.
Dubai Sports City is part of an overall two billion dollar square feet project that will see investments worth Dh 18 billion. It is one of the overall project's many facets designed to position Dubai as a leisure, tourism and entertainment capital of the region. The ambitious Dubailand has 45 main projects with more than 200 sub-projects. — (menareport.com)
© 2003 Mena Report (www.menareport.com)