A total investment of more than Dh15 billion (US$4.08bn) is being made in the area surrounding Meydan stadium as new education, health and residential projects come online.
The project started in 2007 and stalled a year later, but an announcement this week of plans to open a Dh150 million branch of Kent College Canterbury and last week's news of a Dh600m Korean hospital, signal a return to form.
"Since 2008, the whole traditional market was very slow," said Shoaib Khoori, the managing director of the development company Mir Hashem Khoory.
"We identified Meydan as a very strategic location in Dubai, which nobody was noticing. It is such a close development to the heart of the emirate and is still seen as a suburb."
Kent College Canterbury, a 128-year-old private school in the United Kingdom, will open its Dubai branch in 2015. The 37,000 square metre campus will be built to accommodate 2,200 pupils and will offer the UK curriculum from pre-primary to Year 12, with access to finishing school and equestrian training for Year 6 pupils.
David Lamper, the headmaster of Kent College Canterbury said Meydan was as an attractive destination to start its first campus outside the UK. "It is a very exciting location," he said. "One of the great things is its proximity to so many residential areas."
Meydan teamed up with the property developer G&Co to deliver 198 villas on the south of the racecourse. An agreement with Emirates Airline in 2010 was struck to develop 528 villas for their pilots and co-pilots in the district.
"We are almost in the completion stages of these villas and they will be handed over by the end of 2013," said Mohammed Al Khayat, the head of commercial and free zone development at Meydan.
According to Mr Khoori, more projects to add to the infrastructure around the racecourse are being examined. "We have proposals for other schools as well as specialised healthcare facilities that are under study."
The first hospital, which is being jointly set up by the Bobath Memorial Hospital in Korea, is expected to contribute to the growing health tourism numbers in the emirate.
Mr Al Khayat said several commercial office spaces in the free zone areas had already been leased, including one to the logistics company DHL. Emirates NBD bank has also occupied three buildings to accommodate 3,000 staff members.
The Indian developer Sobha Group is also expected to start construction of a mall, villas, apartments and hotels on 750,000 square metres of land bought from Meydan Group this year.
aahmed@thenationl.ae
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
UAE currency: the story behind the money in your pockets
Huroob Ezterari
Director: Ahmed Moussa
Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed
Three stars
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)
What is THAAD?
It is considered to be the US's most superior missile defence system.
Production:
It was created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.
The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
WWE Super ShowDown results
Seth Rollins beat Baron Corbin to retain his WWE Universal title
Finn Balor defeated Andrade to stay WWE Intercontinental Championship
Shane McMahon defeated Roman Reigns
Lars Sullivan won by disqualification against Lucha House Party
Randy Orton beats Triple H
Braun Strowman beats Bobby Lashley
Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship
Mansoor Al Shehail won the 50-man Battle Royal
The Undertaker beat Goldberg
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
