Dubai build the largest trade center in the world

Dubai build the largest trade center in the world

Dubai ┬áhas kicked off the entertainment district project – resort named Mohammed Bin Rashid. Which has the largest commercial center in the world – “Mall of the World”, according to the statement of operating states – Sheikh Mohammed bin Rashid al-Maktoum.

According to Reuters, this project was announced in 2012, to help promote financial market and real estate here. However, the latest report shows that so far, the new building began. However, Dubai did not give details finishing time, total costs or funding sources.

Dubai build the largest trade center
Perspective project outside of Dubai’s commercial center. Photo: Dubai Holding
“The project will be developed in several stages,” said Mohammed Abdullah al-Gergawi – Chairman of Dubai Holding – construction company in charge said.

The latest plan of the project will include a large commercial center 743.000 m2. Besides the simulation parks, movie theaters, medical buildings with 100 apartments and 20,000 hotel rooms. A 7km route linking the service area will be open roof in winter and cover it, use air conditioning in the summer. This complex can welcome 180 million visitors each year.

Dubai is the second largest emirates in the UAE, after Abu Dhabi. It is also home to the largest commercial center in the world – Dubai Mall and the world’s tallest building – Buji Khalifa.

The country is still recovering from the 2009 crisis. International Monetary Fund (IMF) has warned of a new real estate project might cause them to fall into another recession. However, Dubai officials that they can control the risks and strong economic fundamentals will help the company to the Government related to debt restructuring.

Dubai build the largest trade center in the world
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