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Dubai Pushes Ahead With First Phase of $20 Billion District

  • Jumeirah Central COO Parker says construction to start in 2017
  • Builder is in talks with investors over funding options
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Dubai Pushes Ahead With $20 Billion District

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Dubai is pushing ahead with a new $20 billion district on the city’s main highway, which will include a development of 3,000 homes and 15 hotels designed for residents and visitors to walk around -- a rarity in the city.

Construction of the first phase of Jumeirah Central is set to start in mid-2017 and will cost around 24 billion dirhams ($6.5 billion), according to Morgan Parker, chief operating officer at Jumeirah Central, a unit of state-owned Dubai Holding. He declined to say when the first phase would be completed.