RTA inks Dubai Water Canal deal

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By Staff  http://www.emirates247.com

The Roads and Transport Authority (RTA) has signed an agreement with Meydan Group and Meraas Holding whereby the two companies will undertake the construction of the real estate developments around the two banks of the Dubai Water Canal stretching from the Business Bay district and crossing the Sheikh Zayed Road up to Jumeirah Park with an extension to the existing park.

The Canal passes across Al Safa Park, Al Wasl Road, Jumeirah 2 district, and Jumeirah Road before terminating at the Arabian Gulf near Jumeirah Beach Park. The real estate developments include hotels, shopping mall as well as several retail and dining outlets, and residential units.

The Agreement was signed on behalf of the RTA by Mattar Al Tayer, Chairman of the Board and Executive Director of RTA, and for Meydan Group by Saeed bin Humaid Al Tayer, Chairman of the Board & CEO of Meydan Group, and for Meraas Holding by Abdullah Ahmed Al Habbai, Group Chairman of Meraas Holding.

Mattar Al Tayer said, “The RTA will cater to the drilling works of the canal, as well as the construction of crossings, roads and pedestrian paths. The project works have been divided into three contracts. The first and second contract relate to the construction of crossings over the Canal linking with the key roads intersecting the canal course which are the Sheikh Zayed Road comprising 8 lanes in each direction, in addition to Al Wasl Road and Jumeirah Road comprising 3 lanes in each directions apiece. Bridges rise 8.5 meters above the water level to allow free navigation 24/7. More info