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Maritime World has announced that 35 per cent of developers have now signed-off and agreed to begin immediate development of their plots within the business district of Dubai Maritime City (DMC)
Another 40 per cent of companies are expected to sign contracts within the next week.
The properties are multi-purpose mixed-use developments and work will begin within 90 days of contracts being signed, meaning that the first phase of the city’s construction will soon be under way.
The Maritime Business Centre has also recently opened with many companies already establishing their offices there.
“We are delighted that we are able to deliver as promised, due to the sustained faith from the business community in the credibility and huge prospective advantages of the re-engineered and well-conceived and planned city, which is well on its way to becoming an iconic development on the maritime trade and business scenario,” said Khamis Juma Buamim, Chairman of Drydocks World and Maritime World, the umbrella body constituting DMC and other maritime entities.
“We have committed ourselves to resolve all issues of the past and I can confirm that the city is back on track to make a definitive impact as a unique setting for future growth and progress in all relevant areas of maritime and offshore related activity.
“We have overcome the side-effects of global recessionary forces, and have reinvigorated our efforts as per the diktats of a resilient and buoyant market.
“We also encourage all those who are interested to join in as soon as possible so as not to miss the opportunity, as the time is ripe for investment.”
DMC, which covers over 2.27mn sqm on the Jumeirah coastline, has been designed to encourage a community lifestyle supported by well-planned infrastructure and offers facilities for office, residential, retail and recreational purposes.