Dubai ruler Sheikh Mohammad Bin Rashid Al Maktoum this month announced plans for a new multi-billion dollar project in Dubai.
The new city will be built by Dubai Holding and Emaar Properties that will include the world’s biggest shopping mall, a Universal Studios franchise and a huge new public park.
Click here to see our list of 11 new mega projects coming to Dubai
Analysts believe the project will help fuel the emirate’s tourism ambitions and it is the latest in a long line of mega-projects which have been announced in Dubai so far this year.
One of the biggest markets hit during the downturn in 2008 and 2009, when prices plunged nearly 60 percent and around half of projects were stalled or cancelled, the emirate now appears to be back in design mode and planning new and outlandish projects to excite investors.