DWTC project gets approval

The US $4.4 billion (AED 16 billion) masterplan for the Dubai World Trade Centre (DWTC) has been approved.

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By  Angela Giuffrida Published  December 10, 2005

The US $4.4 billion (AED 16 billion) masterplan for the Dubai World Trade Centre (DWTC) has been approved. The current DWTC site will gradually be demolished and new towers built in phases over the next seven to 10 years. The new development will cover the existing site and stretch to the Emirates Towers. When completed, it will host a combination of hotels, exhibition halls, office and residential accommodation and shopping arcades. DWTC tower, which remains one of ‘old Dubai’s’ landmarks, will remain. But Sheikh Rashid Hall is likely to be replaced with a larger convention facility. The project was approved by Sheikh Hamdan Bin Rashid Al Maktoum, deputy ruler of Dubai, UAE minister of finance and industry and chairman of the Dubai World Trade Centre. “Dubai has cemented its position as the premier Middle East conference and exhibitions centre,” he said. “I confidently expect this development to enjoy a tremendous response from exhibitions and conventions organisers worldwide and will play a major role in Dubai’s and the UAE’s success story.” HH Sheikh Hamdan also directed the DWTC board to increase the current exhibition capacity at the Dubai International Convention and Exhibition Centre by 30% within the next year, in order to meet the surging demand for exhibition space.

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