Brief State of Euphoria
To read the full article please click onDubai plans to invest US$ 130 billion in infrastructure
This is the emirate's target for the next 15 years. The number was presented to the delegation of Brazilian construction sector businessmen visiting the United Arab Emirates.
São Paulo - The government of Dubai, in the United Arab Emirates, intends to invest US$ 130 billion in infrastructure over the next 15 years. Up to 2010 a 50 kilometre long subway should be built, connecting the city of Sharjah to Jebel Ali, and a new airport should be built to provide services to up to 70 million passengers. This information was supplied to the Brazilian construction sector delegation that has been in the Emirates since April 22 to learn about the main works in the country.
The delegation, composed of 18 businessmen and headed by the member of the Technology and Quality Committee of the São Paulo state branch of the Civil Construction Industry Association (Sinduscon-SP), Salvador Benevides, has visited the main construction companies in the Arab country, responsible for mega-projects like neighbourhoods, artificial islands, shopping centres and skyscrapers. Yesterday (25), the group met with executives at Emaar Properties, the state-owned construction company of Dubai, which has capital of US$ 45 billion. The businessmen visited Dubai Marina, an urban centre on the waterfront covering a distance of 3.6 kilometres.
According to the secretary general of the Arab Brazilian Chamber of Commerce, Michel Alaby, who is accompanying the delegation, 50% of the 200 buildings of Dubai Marina have already been built. The forecast is that up to 2009 the project be concluded. "There are already 30,000 hotel rooms and around 70,000 people are already living at the place," stated Alaby. The channel on which the Marina is located will have 600 berths. The estimated value of the project is US$ 5 billion.