The Dh5.3 billion ($1.44 billion) project is aimed at serving the needs of urban growth along the corridor, the authority said.
The scope of the Dh800 million contract 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.
Mattar Al Tayer, director general of the authority, said the project would boost the smooth flow of traffic in the busy area.
"It will also enhance roads capacity and efficiency as well as traffic safety,” he said.
When complete, the Al Shindagha corridor will feature 15 intersections spanning 13km in total.
Due to its large-scale scope, the project had been split into five phases.
The corridor serves Deira and Bur Dubai in addition to nearby areas such as Deira Islands, Dubai Seafront, Dubai Maritime City and Port Rashid.
It is expected to reduce travel time from 104 minutes to only 16 minutes by 2030.
“Early last year RTA opened the Infinity Bridge extending, approximately 295m and consisting of six lanes in each direction in addition to a combined three-metre-wide track for pedestrians and cyclists," said Mr Al Tayer.
"RTA has made significant progress in the construction works of the Falcon Interchange Improvement Project, which includes the construction of two bridges along Al Khaleej Street.
"The first bridge extends 750m north, and the second one stretches 1075m south. The bridges have six lanes in each direction with a capacity of up to 24,000 vehicles per hour in both directions.”
The authority has already completed the improvement of numerous intersections within the Al Shindagha Corridor Improvement Project, including the opening of the Sheikh Rashid Road-Oud Metha Street Intersection.
It has also carried out the improvement of the Sheikh Rashid Road and Sheikh Khalifa bin Zayed Street Intersection, which included the construction of two bridges on the Sheikh Khalifa bin Zayed Street comprising two lanes in each direction.
Additionally, the authority has opened five bridges leading to Deira Islands and a main bridge on Al Khaleej Street.