Raft of new projects likely with Dubai Holding launch

New entity will broaden horizon for future development, says Mohammed Al Gergawi

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By  Eudore Chand Published  November 6, 2004

The formation of a new Dubai Government entity, Dubai Holding, is likely to result in a raft of new government-backed infrastructure, development and residential and commercial projects. An indication that several new projects may be in the offing came from the statement issued regarding the activities of Dubai Holding. “Dubai Holding will also research, identify and execute future major projects that will benefit the emirate and the region,” said the statement. “Dubai Holding is set to play a significant role in the creation of a large number of mega projects, all of which are expected to be among the top companies in the Middle East. New areas of growth cover the diversified field of media, healthcare, tourism, property, energy, industrial, research and humanitarian-related projects,” the statement said. It also pointed out to several major existing projects that will now be managed by Dubai Holding. Its initial clutch of members include Dubai Internet City, Dubai Media City, Dubai Healthcare City, Jumeirah Beach Residence, Dubailand, Dubai Humanitarian City, Dubai Knowledge Village, Arab Radio Network, International Media Production Zone, Dubai e-Hosting, Dubai Outsourcing Zone, Empower, SamaCom, and other leading Dubai developments, institutions, initiatives and projects. The Dubai Development and Investment Authority had initially promoted the projects. The formation of Dubai Holding was under the directives of His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister. The aim was to infuse new life in the existing projects and to define new areas of growth for Dubai. Mohammed Al Gergawi has been named as chief executive officer of Dubai Holding. “By the directives of His Highness, Dubai Holding was launched to ensure future development and successfully manage existing projects. Dubai Holding will emphasise the role of the country as an international centre for business, commerce, industry, and tourism,” he said. Referring to the projects in hand, Al Gergawi said: “These projects have achieved tremendous success during the past five years. They have played an important role in the human resource development in new and thriving business sectors. Dubai Holding will operate in the most flexible manner, allowing the projects to operate in their usual environment, only with more focus on maximising the benefits gained from using the best skills and resources. This will help improve the competency of those projects as they will be involved in the overall strategic planning of the company.” Al Gergawi said Dubai Holding is a rather well established company with high standards to achieve the best results. And with its unique and well-trained human resources, the company will enter new challenging levels of development. “The launch of Dubai Holding at this period of time reflects the new era of economic independence and strength — an era which will in fact allow the country to compete in a rather challenging international scene.

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