General Shaikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence, on Tuesday declared 'Business Bay', a new initiative that aims at turning the UAE a leading international commercial and business hub.
'Business Bay' will be located along a new extension of the Dubai Creek. Spreading on an area of 64 million square feet, the new initiative will provide a conducive environment and infrastructure for businesses from around the world to establish their local, regional and international headquarters.
According to Khaleej Times, this new area will turn into an active commercial and business district that will lure leading firms to house their local, regional and international headquarters there.
Delivering the announcement, General Mohammed said: "Business Bay is an initiative that reflects our commitment to continue to heavily invest in order to develop the infrastructure of the country and to maintain good relations between public and private sectors."
