Dubai Holding, one of the emirate’s three big conglomerates, is “re-evaluating” its 47 million square feet Jumeirah Central residential and office development on the Sheikh Zayed Road “to meet expected future demand”. The company said it remains committed to the overall project.
The developer said yesterday its changing priorities for the development, unveiled at last year's Cityscape Global exhibition, have prompted a restructuring of its upper management, with chief operating officer Morgan Parker due to leave the company in the next three months.
“Dubai Holding is prioritising projects that will be ready for Expo 2020 Dubai and those that will help draw tourists to the Emirate," a Dubai Holding spokesperson said on Sunday.
"As a result, we are currently focusing our resources on projects such as Marsa Al Arab. We are still committed to Jumeirah Central but the project is currently being re-evaluated to meet expected future market demand. This decision has resulted in an organisational restructuring that will see Morgan Parker stepping down from his role by the end of this year.”
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Jumeirah Central was originally due to include 9 million square feet of retail space, 7.5 million square feet of offices, hotels with a total of 7,200 rooms, and 11,000 homes.
The project is based on the former site of the Mall of the World project, and is set to contain a total of 278 projects in total. Although Dubai Holding did not say how many phases would be developed in total, it said its intention is to concentrate on the south-eastern corner of the site adjacent to the existing Sharaf DG Metro station.
The first phase of the overall project was to comprise 17 million square feet, including 12 office projects and 14 hotels.
At the time of its unveiling, Jumeirah Central's total cost was estimated at Dh73.4b billion. Of that, the company said it would spend roughly Dh24bn on the first phase of the project.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
Results
2.30pm: Dubai Creek Tower – Handicap (PA) Dh40,000 (Dirt) 1,200m; Winner: Marmara Xm, Gary Sanchez (jockey), Abdelkhir Adam (trainer)
3pm: Al Yasmeen – Maiden (PA) Dh40,000 (D) 1,700m; Winner: AS Hajez, Jesus Rosales, Khalifa Al Neyadi
3.30pm: Al Ferdous – Maiden (PA) Dh40,000 (D) 1,700m; Winner: Soukainah, Sebastien Martino, Jean-Claude Pecout
4pm: The Crown Prince Of Sharjah – Prestige (PA) Dh200,000 (D) 1,200m; Winner: AF Thayer, Ray Dawson, Ernst Oertel
4.30pm: Sheikh Ahmed bin Rashid Al Maktoum Cup – Handicap (TB) Dh200,000 (D) 2,000m; Winner: George Villiers, Antonio Fresu, Bhupat Seemar
5pm: Palma Spring – Handicap (PA) Dh40,000 (D) 2,000m; Winner: Es Abu Mousa, Antonio Fresu, Abubakar Daud
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
