Villa sales prices up 23% - apartment sales prices up 14% in 2012, says latest Asteco report on Dubai real estate

Villa sales prices up 23% - apartment sales prices up 14% in 2012, says latest Asteco report on Dubai real estate

Apartment and villa rents up 17% in 2012 – report forecasts strong leasing and sales demand to continue in H1 2013

Quality residential developments in Dubai ended 2012 with a strong Q4 performance to put the average annual increases at their highest since 2008. Villa sales prices were up on average 23% year-on-year and apartments made average gains of 14% during the same period. The leasing market was no less impressive, with an average increase across all residential types of 17%.
“The latter half of 2012 witnessed better than anticipated performance in terms of pricing, transaction activity and occupancy as well as new real estate launches,” said John Stevens, Managing Director, Asteco Property Management.

Sales prices for apartments and villas rose by 9% in Q4 2012 alone, fuelled by increased confidence and improved financing. The buyer profile was dominated by self-use and investments for rental income, with expatriates taking a longer-term view of living in Dubai. Interestingly cash buyers outnumbered mortgaged sales.
The areas that came out on top for villa sales year-on-year were the Springs which jumped 38% reaching AED9,700 per square metre; Jumeirah Islands which rose 28% achieving AED12,400 per square metre and the Arabian Ranches which grew 27% to AED10,250 per square metre.

In terms of apartment sales the Palm Jumeirah increased by 27% to AED15,100 per square metre; The Greens followed with growth of 23% at AED10,250 per square metre and Downtown Dubai which recorded an 18% increase, rising to AED14,000 per square metre.
“The recent clarification by the UAE Central Bank that it will not impose any immediate loan-to-value (LTV) caps on UAE banks, suggests that existing LTV ratios are likely to remain unchanged, in which case Asteco forecasts that the sales market will enjoy continued growth in 2013,” commented Stevens.

The residential leasing market also witnessed robust growth across all developments researched with the exception of International City. Increased enquiries pushed demand and prices up by 7% for apartments and 5% for villas in Q4 2012.
In terms of supply and demand, Dubai is still benefiting from the Euro crisis and the Arab Spring as people seek stability and better economic conditions. Mid to high budget enquiries have increased and stock in popular developments is drying up. Indicative of the strength of the market, the take-up time of advertised units has declined steadily over the year.
The highest growth rates year-on-year for villas were recorded in the Springs, where a three-bedroom unit now costs AED140,000 per annum, a 27% increase; Villas in Arabian Ranches rose 25% to AED155,000 per annum for a three-bedroom house. The most expensive area remains The Palm Jumeirah – a three-bedroom villa there costs AED325,000 per annum.

Apartment rental rates grew most in Discovery Gardens, with a 23% increase to AED45,000 annually for a one-bedroom unit; Downtown Dubai followed on a par with 23% growth, a one-bedroom apartment now leases for AED80,000 per annum. International City lagged way behind the 17% average increase managing a 6% increase, putting a one-bedroom flat at AED24,000 per annum.
“If demand continues, we expect to see a shift in the market from being predominantly tenant-led to one controlled by landlords, especially in quality, well managed and established developments,” added Stevens.

In contrast to the residential market, the commercial market saw little movement during 2012. Overall leasing activity improved but actual transaction levels declined during H2 2012. Rates remained under pressure, with the exception of DIFC which recorded minimal growth. Sales prices were unchanged after a period of weak investor interest.
For more details, please visit www.asteco.com

The full Asteco Dubai H2 2012 report is available online at http://www.astecoreports.com/



Asteco, a major regional and international real estate services firm and the largest property services company in the United Arab Emirates, was founded in Dubai in 1985. Asteco offers independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.

RTA completes 68% of Trade Center Bridges, Project set for opening by end of 2013

RTA completes 68% of Trade Center Bridges, Project set for opening by end of 2013

COSTING DH719 M, THE PROJECT COMPRISES 22 PRECAST CONCRETE SLAB BRIDGES STRETCHING 4,236 METERS: AL TAYER

Roads & Transport Authority - Mohammed Al Munji:
His Excellency Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads & Transport Authority (RTA), announced the accomplishment of 68 per cent in the Trade Center Bridges Project at Zaabeel, adding that the project is set for opening by the end of this year. The Project comprises the construction of 22 precast concrete slabs bridges extending 4250 meters with a capacity of two lanes in each direction, in addition to a 120 meter-long concrete bridge added to serve the traffic heading towards Al Maktoum Bridge.

"The Trade Center Bridges Project, which costs about 719.37 million dirham, is by far the largest phase of the Parallel Roads Project; which is one of the massive road projects undertaken by the RTA that aims at linking the Western Parallel Road with the Sheikh Rashid bin Saeed Road and Street 312 passing by the World Trade Center. The Project also serves the traffic in the opposite direction of Street 312 passing by the Trade Center heading towards Al Maktoum and Al Garhoud Bridges as well as the Dubai–Al Ain Road. It also serves trucks moving from Rashid Port heading towards the Dubai–Al Ain Road, and includes improving the signalized junctions at the intersection of the Trade Center in addition to infrastructure and lighting works.

"The RTA has already accomplished key phases of the Parallel Roads Project including the opening of the initial phase which included the construction of roads at Al Barsha, and Al Qouz Industrial & Residential Areas spanning Hessa Road to the south and Meydan Road to the north extending 15 km in the Eastern Parallel Road and 18 km in the Western Parallel Road, comprising three lanes in each direction. The Project intersects several arterial & express roads such as Umm Suqeim Road, Latifa bint Hamdan Road in addition to arterial & local roads, including 25 signalized junctions. The RTA has also opened roads under Phase III (B); which pass across sprawling urban developments in areas such as Jebel Ali Racecourse, Emirates Hills, Springs, Meadows, Jumeirah Islands and Jumeirah Park. The Road, which extends about 20 km, constitutes 14% of the total Parallel Roads Project, and comprises three to four lanes in each direction. The RTA has also opened several key roads in the Business Bay area situated between the Financial Center Road to the North, Meydan Road to the South, Al Khail Road to the East and Sheikh Zayed Road to the West. It also covers the construction of roads extending 16 km, a 600 meter-long bridge, 7 light signals and storm water drainage network.

"The RTA has completed all works linking Al Khail Road with the local roads of the Business Bay in order to ease the traffic flow in the area, and has also completed the improvement of the internal roads in the area between the Sheikh Zayed Road and the Western Parallel Road; which has eased the mobility of those living in the towers parallel to the Sheikh Zayed Road. These roads have been linked with the Sheikh Zayed Road to serve the traffic movement of motorists passing through the Sheikh Zayed Road and heading towards the Business Bay.

"Work is up and running in the completion of road works under Phase III (A) of the Parallel Roads Project in the area between Jumeirah Lakes Towers; linking property developments of Emaar and Nakheel companies in the area to the south of the Sheikh Zayed Road between Interchanges 5 and 5.5. The Project includes the construction of a 10 km-long road of 3 lanes in each direction. Work is also progressing in Phase IV of the Project which serves Jebel Ali Free Zone, Al Maktoum Airport and the Industrial Area. This Phase comprises the construction of roads extending 22 km with 4 lanes in each direction in the Eastern and Western Parallel Roads,” said Al Tayer in a concluding remark.

Captions:
• Mattar Al Tayer
• 68% of works completed in the Trade Center Bridges

Business Bay sees high demand from multinational companies, following completion of infrastructure works

Business Bay sees high demand from multinational companies, following completion of infrastructure works

Orion Holdings: Companies are keen to set up regional headquarters or UAE offices in this elegant, world-class business district

Dubai, UAE, 22 January 2013: Orion Holdings, a leading UAE real estate company, has revealed that multinational companies coming to the UAE look at Business Bay as the preferred destination to set up regional headquarters or UAE offices. This is based on daily enquiries received by Orion Holdings from multinational companies.

Samir Munshi, Managing Director, Orion Holdings, says: “The growing preference for Business Bay from businesses comes on the heels of completion of the several infrastructure projects in this business district, which is regarded the commercial hub of the Emirate.”

Infrastructure in Business Bay is almost ready, which includes roads and traffic signals and connectivity to highways and arterial roads. Also, the landscaping is either completed or underway.

The business district has attracted large multinationals to set up offices. According to the main developer, there are no more plots left in Phase I and Phase II of Business Bay. Boosted by its proximity to Burj Khalifa, Business Bay has emerged as one of the most prestigious business districts in the region. The completed projects in Business Bay show an occupancy rate of 100%.

Silver Heights, the sales division of Orion Holdings, has been one of the active players dealing with commercial properties in Business Bay for the past three years.

Munshi added: “As we have acquired a wide range of office spaces in Business Bay, we are being approached by companies which want to set up their regional offices here, attracted by the world class amenities offered by the district.”

He stressed that Business Bay offers the best business environment to individuals, local and international enterprises. It is a truly world-class development for the business establishments to conduct and advance their business to international heights.

The infrastructure of Business Bay was completed in 2008 and now it is connected to major districts of Dubai through Dubai Metro and RTA Bus service. By year-end, it will be linked to Downtown Dubai through a tunnel. On the other hand, Dubai Electricity and Water Authority is building two new substations, while Empower is developing the second cooling station in Business Bay.

Once completed, the project will have 240 high rise structures, comprising commercial and residential buildings. Among the major projects will be Burj Al Alam – which will be taller than Burj Khalifa -- and Empire Heights, The Signature Towers, The Skyscraper and The Forum.

Business Bay gives the true feeling of Dubai as a metropolitan city. Furthermore, it offers a classy and fulfilling community standard of living to its residents.

367m passengers used public transit means in Dubai in 2012 as daily ridership breaks 1m passengers

367m passengers used public transit means in Dubai in 2012 as daily ridership breaks 1m passengers

AL TAYER:109M PASSENGERS LIFTED BY DUBAI METRO LAST YEAR

Dubai- Roads & Transport Authority: Mohammed Al Munji:
H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads & Transport Authority (RTA), revealed that RTA public transport means, comprising Dubai Metro, public buses, marine transit modes and taxis (Dubai taxi and franchise companies) have lifted 367.657 million passengers in 2012 compared with 346.5 million passengers in 2011, and 323 million passengers in 2010, according to figures released by RTA Statistics Section. This brings the daily ridership of public transit means in Dubai last year to more than one million passengers whereas it was 963 thousand passengers in 2011, and 922 thousand passengers in 2010.

“The RTA is progressing in fast but solid steps towards achieving the objectives set out for it since inception i.e. providing an integrated roads & transport system that ensures smooth traffic movement, achieving the highest safety levels for all system users, and enhancing the multi modal integration of all mass transit means in Dubai Emirate,” said Al Tayer.

“The RTA has been endeavouring to provide mass transit systems to keep pace with the growth seen by the Emirate, and make them the ideal mobility choice for the public under the context of realizing one of the core objectives of the RTA vis-à-vis reducing the use of private vehicles and increasing the share of public transport from 6% in 2006 to 30% in 2030.

“The Dubai Metro, including both Red & Green Lines, has lifted last year 109.491 million passengers compared to only 69 million passengers in 2011. The number of passengers lifted on the Red Line last year clocked 71.914 million passengers which compares well with the number lifted in 2011 amounting to 60.024 million passengers, and the Green Line, which had been inaugurated on 9/9/2011, lifted about 37.576 million passengers last year; which brings the daily ridership of the metro close to 300 thousand passengers. The average daily ridership of the metro during the final quarter of last year saw a remarkable growth with the month of December clocking an average daily ridership of 364 thousand passengers.

“The number of commuters using public buses in 2012 has hit 120.774 million passengers compared with 107.407 million passengers in 2011, with a daily ridership of about 331 thousand passengers in 2012, compared with 298 thousand passengers per day in 2011. The number of commuters using marine transit means, comprising abras, Water Bus, Water Taxi and Dubai Ferry was about 13 million passengers last year, compared with 14.221 million passengers in 2011. This drop in ridership is attributed to some commuters electing to switch from abras to the metro. Abras have ferried about 12.552 million passengers last year compared with 13.8 million passengers in 2011. About 347 thousand passengers were lifted by the Water Bus, 13.5 thousand passengers were ferried by the Water Taxi, and 55 thousand passengers were served by the Dubai Ferry, thus the total ridership of marine transit modes touches 35,616 passengers per day.

“The number of trips made by taxis (Dubai Taxi and franchise companies) clocked 68,695,237 trips in 2012 compared with 62,360,000 trips in 2011; which was coupled with an increase in the number of taxi users to 137.39 million passengers in 2012 from 124.72 million passengers in 2011. Taxicabs in Dubai Emirate make about 188,206 daily trips lifting about 376 thousand passengers,” elaborated Al Tayer.
RTA Chairman of the Board and Executive Director was delighted with these indicators which show that the massive investments pumped by the Government of Dubai in upgrading the infrastructure of the transport sector has proved both successful & effective. The mounting numbers of public transit commuters is an indicative of an evolution in the culture of using public transport means by various spectrums of community members, particularly with the availability of the metro service. Peoples have started to grasp the benefits and advantages of using public transport such as the psychological & physical relief of passengers, high safety level, and reduced expenditure on vehicles in terms of fuel, maintenance among others.

Captions:
- Mattar Al Tayer
- Number of passengers using Dubai Metro on the rise
- Public buses linking all districts of the Emirate
- Marine transit means shuttling between the two shores of Dubai.

Anantara Set to Launch in Dubai on The Palm

Anantara Set to Launch in Dubai on The Palm

In Partnership with Seven Tides

January 21st 2013: Anantara Hotels, Resorts & Spas, a leading developer and operator of luxury hotels, resorts and spas, is pleased to announce the expansion of its presence in the United Arab Emirates with the launch of its first hotel in Dubai. The Anantara Dubai Palm Jumeirah Resort & Spa is a five star resort on the crescent of Dubai’s iconic Palm Jumeirah, and will open in September 2013.

Partnering with Dubai-based owning company Seven Tides, the progressive hospitality and real estate developer, the luxurious new property is designed to reflect the brand’s Asian heritage and will bring Anantara’s experience and discovery-lead hospitality to the vibrant and continually expanding Dubai market.

Set amidst lush landscaping, the new resort and spa will offer a total of 293 guest rooms and suites clustered in units of four to eight to maximise privacy, with 130 guest rooms featuring direct access to 11,000 square metres of lagoon pools. The 12 Beach Villas, 18 Over Water Villas and three highly exclusive Royal Beach Villas give the resort an indulgent and exotic feel. Impressive facilities will include a private beach, three natural lagoons, water sports, a shoreline infinity pool, an Anantara Spa sanctuary with 12 treatment rooms, a fitness studio and two tennis courts. An elaborate entertainment area will be accompanied by meeting rooms with state-of-the-art audiovisual equipment. A ballroom accommodating 300 people and the private beach will provide inspirational venues for events and weddings.

Six themed restaurants and bars include an all-day dining restaurant serving classic Middle Eastern and international cuisine, an Australian inspired grill, an Asian themed specialty restaurant, a beachfront Mediterranean restaurant, a lobby lounge with a dedicated shisha deck, and poolside refreshments. For the ultimate in tailored private dining, Anantara’s signature ‘Dining by Design’ concept will invite guests to dine in a dream setting with a private chef and butler.

When it opens, Anantara Dubai Palm Jumeirah Resort & Spa will be a great complement to Anantara’s three existing properties in Abu Dhabi – Qasr Al Sarab Desert Resort by Anantara, which is positioned in the world’s largest uninterrupted sand desert, Desert Islands Resort & Spa by Anantara, located on Sir Bani Yas Island, and Eastern Mangroves Hotel & Spa in Abu Dhabi City. The new resort promotes the brand’s distinctive reputation for luxury discovery in the region, and also creates a landmark presence with such a strategic base in Dubai.

William E. Heinecke, Chairman and CEO of Minor International, the owning company of Anantara, commented, “We are excited to announce our first Anantara property in Dubai which is a significant milestone for Minor. This new resort strengthens our footprint in the key strategic market of the UAE and I am confident it will greatly contribute to our success there.”

Dillip Rajakarier, CEO Minor Hotel Group, added, “We are delighted to be partnering with a progressive and respected company such as Seven Tides to open our fourth unique property in the UAE. Anantara Dubai Palm Jumeirah Resort & Spa consolidates our brand’s focus on iconic destinations and builds upon our growing collection of properties in some of the world’s most exciting cities.”

Abdulla Bin Sulayem, CEO, Seven Tides, commented, “Anantara was chosen after a lengthy selection process involving a number of international management companies. We found that Anantara’s brand DNA was a perfect match with our aspirations for this luxurious property, not just through its Asian design-led proposition, but beyond to encompass the complete guest experience.”

“The resort and spa is primarily a leisure and incentive destination and will appeal to visitors from the GCC, Asia and of course the traditional inbound European markets,” added Bin Sulayem.


Anantara Hotels, Resorts & Spas

For hundreds of years throughout Thailand, people would leave a jar of water outside their house to provide refreshment and extend a welcome to the passing traveler. Anantara is taken from an ancient Sanskrit word that means 'without end', symbolising this sharing of water and the heartfelt hospitality that lies at the core of every Anantara experience.

From lush jungles to pristine beaches and legendary deserts to cosmopolitan cities, Anantara currently boasts 20 stunning properties located in Thailand, the Maldives, Bali, Vietnam, the United Arab Emirates and China; with future properties to open in Thailand, China, Laos, Mauritius, Sri Lanka, UAE and Oman.

For more information on Anantara Hotels, Resorts & Spas, please visit www.anantara.com.
Follow us on Facebook: www.facebook.com/anantara and Twitter: Anantara_Hotels

About Global Hotel Alliance

Based on the airline alliance model, Global Hotel Alliance (“GHA”) is the world largest alliance of independent hotel brands. It uses a common technology platform to drive incremental revenues and create cost savings for its members, while offering enhanced recognition and service to customers across all brands, through a unique loyalty programme, GHA Discovery. GHA currently comprises of Anantara, Doyle Collection, First, Kempinski, Leela, Lungarno Collection, Marco Polo, Mokara, Mirvac, Omni, Pan Pacific, PARKROYAL, Shaza and Tivoli hotels & resorts, encompassing almost 300 upscale and luxury hotels with 65,000 rooms in 51 different countries. www.gha.com

About Minor International

Minor International (MINT) is a global company focused on three primary businesses including restaurants, hotels and lifestyle brands distribution. MINT is a hotel owner, operator and investor with a portfolio of 41 hotels and 41 serviced suites under the Anantara, AVANI, Oaks, Elewana, Marriott, Four Seasons, St. Regis and Minor International brands in Thailand, Indonesia, Vietnam, Malaysia, China, Sri Lanka, the Maldives, the United Arab Emirates, Tanzania, Kenya, Australia and New Zealand. MINT is one of Asia’s largest restaurant companies with over 1,300 outlets operating system wide in 18 countries under The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, Thai Express, the Coffee Club and Ribs and Rumps brands. MINT is also one of Thailand’s largest distributors of lifestyle brands focusing primarily on fashion, cosmetics and contract manufacturing. Its brands include Gap, Esprit, Bossini, Charles & Keith, Pedro, Red Earth, Tumi, Zwilling J.A. Henckels, and ETL Learning. For more information, please visit www.minorinternational.com.

About Seven Tides

Based in Dubai, the United Arab Emirates, privately-owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.

Burj Al Arab ushers in the Year of the Snake

Burj Al Arab ushers in the Year of the Snake

Chinese New Year celebrations will continue for seven days
in the world’s most luxurious hotel

DUBAI, 20 January 2013 - Burj Al Arab is expecting a peak in Chinese visitors for Chinese New Year, starting from 10 February 2013.

In the last three years, the ease of securing UAE visas has helped attract a record number of Chinese tourists and businesspeople to the UAE and many have made Burj Al Arab their prime destination. Contributing to this success, the hotel’s authentic Far East Asian dining destination, Junsui, is drawing on the expertise of Chef Foong to create a week-long, celebratory experience for the Year of the Snake.

“Chinese visitors are among the top three fastest-growing guest segments for Burj Al Arab. Our experience in meeting the needs of these guests, as well as the insight of our Chinese colleagues, has enabled the hotel to create memorable offerings and celebratory moments for occasions such as Chinese New Year,” said Heinrich Morio, General Manager for Burj Al Arab. ”For Chinese travellers coming to Dubai, Burj Al Arab has become a must-visit destination and the place to celebrate the most significant occasions.”

To launch its Chinese New Year celebrations, Burj Al Arab will project a massive red calligraphic serpent artwork on the sail-shaped exterior to welcome the Year of the Snake.

On the evening of 10 February, the hotel will host Chinese dignitaries and their families to witness the traditional lighting of the lion’s eyes to initiate a series of traditional lion dances. To the accompaniment of the Chinese zither music, Chinese delicacies hand-selected by Chef Foong will be served from live cooking stations, while children’s Chinese craft activities will entertain the youngest guests. The celebrations will continue for one week in Junsui, with traditional dishes including Fa Gao (Chinese-style cupcakes) and Nian Gao (new year cake) served alongside Dim Sum and Peking Duck.


• Photograph: Burj Al Arab’s sail illuminated in celebration of the Year of the Snake.


About Burj Al Arab
Burj Al Arab is managed by Jumeirah Group, the global luxury hospitality company and a member of Dubai Holding.
Burj Al Arab is designed to resemble a billowing sail and stands at a height of 321 meters. It is one of the most photographed structures in the world and has been consistently voted the world's most luxurious hotel, with features including in suite check-in and check-out, reception desks on every floor, round-the-clock private butlers and use of the hotel’s Rolls-Royce fleet and private beach. The hotel’s 202 luxury suites range from 170 to 780 square meters with a rain shower and a Jacuzzi in each suite, as well as six restaurants and conference and banqueting venues.

Completion rate in Rashid Hospital Tunnels Project hits 80%: RTA

Completion rate in Rashid Hospital Tunnels Project hits 80%: RTA

The project is set for opening next June

Roads & Transport Authority – Mohammed Al Munji:
The Roads & Transport Authority (RTA) announced that 80% of construction works have been completed in Rashid Hospital Tunnels Project and the project, which costs about 722 million dirham, is expected to be fully completed and opened for traffic by 30 June 2013.

Commenting on the project, H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA, said: “The construction of Rashid Hospital Tunnels Project is part of a master plan aimed to ease the traffic congestion in the vicinity of Rashid Hospital and step up the traffic flow in the area. Upon the project completion, the capacity of roads within the scope of the project is set to rise to as much as 6000 vehicles per hour.

“The project contractor has completed all infrastructure works related to DEWA, sewage services and Etisalat as well as the construction works in vehicular & pedestrian tunnels, and the electromechanical works in the tunnels,” added Al Tayer.
“The Project comprises the construction of roads and two tunnels, each comprising two lanes, serving the traffic inbound from Tariq bin Ziyad & Umm Harir Streets and heading towards the intersection of Al Al Riyadh Street with the extension of the Floating Bridge. The first tunnel passes from Tariq bin Ziyad Street underneath Al Maktoum Bridge, and the other one; inbound from Umm Harir Street, passes across Oud Metha Park, and the two tunnels merge to form a 4-lane street heading towards Al Riyadh Street via Rashid Hospital. The Project also encompasses converting the junction of Riyadh Street with the Floating Bridge Extension into a 4-lane passageway, widening Tariq bin Ziyad Street, improving Oud Metha & Umm Harir Streets, and constructing a road to handle the traffic inbound from the Floating Bridge and heading towards Tariq bin Ziyad Street," elaborated Al Tayer.

It is note-worthy that the RTA has undertaken several projects in Bur Dubai to eliminate tailbacks and enhance roads capacity to keep pace with the urbanization and traffic growth rates. In this regard the RTA constructed the Floating Bridge, just half a kilometer off Al Maktoum Bridge, which comprises six lanes stretching from the surface intersection near City Center and Dubai Golf Club in Deira and terminates at the intersection to be constructed on Al Riyadh Street. The Project included modifications to improve the efficiency of junctions near Al Riyadh Street where the R/As in the direction of the Creek Park have been converted into signalized junctions. The project also provided an additional lane between Khalid bin Al Waleed Street and Oud Metha on the one hand, and Al Ittihad Street and Deira on the other.

The RTA has also widened Al Maktoum Bridge from 9 to 11 lanes, and the streets in the approaches of the Bridge from two to three lanes to handle the traffic inbound from Umm Harir Street; a step which has increased the vehicular capacity and eased the traffic congestion in the traffic in bound from Sheikh Zayed Road in the direction of Deira. It also improved the capacity of Khalid bin Al Waleed Street and eased the pressure on this vital corridor and ensured seamless traffic flow in the direction of Deira. Improvements and widening of the Bridge works also included increasing the number of lanes in the direction from Deira to Bur Dubai from four to six lanes along the Bridge.

Al Tayer stated that the RTA was following up improvement works in several main roads in Dubai city as part of a series of vital projects being constructed to improve roads and provide advanced services at residential districts to conform to RTA's strategy and the ongoing endeavours to keep pace with the urbanization drive and serve the requirements of growth as well as the demographic expansion in the Emirate.

Captions:

 Work in Rashid Hospital Tunnels Project is progressing according to the approved schedule

Pentominium photos, Dubai Marina ,December 2012

Marina 101 Tower photos, Dubai Marina , December 2012