Dubai's Roads and Transport Authority has unveiled congestion-cutting plans for a 1.6km six-lane tunnel in Diera.
Al Khaleej Street Tunnel will serve 12,000 vehicles an hour and is a key part of a multi-billion dirham drive to boost traffic flow and ensure the emirate's roads can meet the demands of a growing population.
The RTA on Sunday announced a contract had been awarded for the construction of the transport link, which will stretch from the end of the ramp of Infinity Bridge in Deira to the junction of Al Khaleej and Cairo streets.
The RTA did not confirm when the tunnel is expected to open.
It is the latest addition to the Dh5.3 billion ($1.44 billion) Al Shindagha Corridor Improvement Project, which encompasses a 13km area encompassing Sheikh Rashid Road, Al Mina Street, Al Khaleej Street and Cairo Street.
It will include the upgrade of 15 intersections and aims to benefit about one million people living in Dubai Islands, Dubai Waterfront, Dubai Maritime City and Mina Rashid.
The RTA said the scheme is projected to slash travel times from 104 minutes to 16 minutes by 2030.
“Al Khaleej Street Project, which is part of Phase 4 [of the Al Shindagha project], covers the construction of a tunnel extending 1,650 metres and encompassing three lanes in each direction," said Mattar Al Tayer, director general of the RTA.
"It provides a free traffic flow from the Infinity Bridge towards Deira and back.
"The scope includes transforming the crossing of the Cairo and Al Wuheida streets from a roundabout to a signalised intersection, besides improving Cairo Street and connecting the ramp of the bridge from Dubai Islands to the new tunnel on Al Khaleej Street northward.
"This phase will serve the residents of Abu Hail, Al Wuheida and Al Mamzar along with development projects like Dubai Islands, Dubai Waterfront, Waterfront Market and Hamriya Port."
In March 2023, the RTA awarded the first contract under Phase 4 of Al Shindagha master plan.
The Dh800 million project extends 4.8km along Sheikh Rashid Road, from the intersection with Sheikh Khalifa bin Zayed Street to the Falcon Interchange on Al Mina Road.
It involves the construction of three bridges spanning 3.1km in total, capable of accommodating 19,400 vehicles per hour across all lanes.
Improvements already completed under the major infrastructure project include the opening of an intersection of Sheikh Rashid Road and Oud Metha Road, and the launch of five bridges leading to Dubai Islands, which together can serve more than 20,000 vehicles an hour.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The five pillars of Islam
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
Stands taller than the leaning tower of Pisa
Steel trellis dome is one of the largest single structures on site
The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
World’s largest 360-degree projection surface
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
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