20% of developments in the area to reach completion this quarter
Dubai Technology and Media Free Zone Authority (DTMFZA) has said “at least” 20% of the 200 sites currently under construction will be completed Q1 2012.
The area under TMFZA control covers Dubai Internet City, Dubai Outsource Zone, Dubai Media City, Dubai Studio City, International Media Production Zone, Dubai Knowledge Village, Dubai International Academic City, DuBiotech and the Energy and Environment Park (Enpark).
“Overall, more than 200 sites are under construction, of which some projects are suspended. The progress of the sites are going on in a normal pace. We expect at least 20 per cent of the buildings to be completed,” said Mohamed Al Bahri, executive director, Zoning Authority Development Control, Tecom Zoning Authority.
Additionally, more than 170 new building permits were issued up to mid-November 2011.
According to Emirates 24/7 the authority also revealed that there are 144 commercial, 288 residential and 25 hotels in master developments under their supervision; totalling a developed land area of 400 million square feet, of which 192 million square feet are constructed areas