Sheikh Mohammed bin Rashid Al Maktoum, vice-president and prime minister of the UAE and ruler of Dubai, has reviewed the masterplan for the AED8 billion ($2.2 billion) One Central project, state news agency WAM reported.
Sheikh Mohammed reportedly reviewed the detailed model of the upcoming mixed-use project, being developed and managed by the Dubai World Trade Centre Authority.
The 540,000sqm One Central project will include business, residential and leisure developments, inclusive of five Grade A, LEED Gold-certified office buildings, and four hotels ranging from three to five stars with an estimated 2,000 total room capacity.
The development will also contain residential towers offering 1,300 apartments and townhouses and a 2,500-capacity multi-purpose theatre. Upon completion, One Central “will support new multinational entrants to establish a presence for business within the UAE and the wider region,” it was reported.
“Our nation is open and tolerant of all cultures, whilst maintaining its unique heritage and sustaining its leading position in developing extraordinary projects and investing in infrastructure to attract global companies, world business leaders and international cultural activities,” Sheikh Mohammed said.
Helal Saeed Almarri, director general of the Dubai Department of Tourism and Commerce Marketing and director general of Dubai World Trade Centre Authority, presented the new masterplan development to the Dubai ruler.
The first commercial office building in the project is already complete, Almarri said, adding that the next two office buildings are under construction and due for delivery by the end 2017.