IslamicFinance.de

In the attempt to assure Dubai's position in the Middle East as a center for transport and tourism, Dubai is about to launch some grandiose construction projects. Sheikh Mohammed bin Rashid al-Maktoum, Dubai's ruler, ordered a a new city development named after himself to be built. According to estimates, the project will most probably be worth about $10 billion. It shall include 100 hotels, the world's largest shopping mall, parks, art galleries and exhibition centers. A further project for a leisure complex of five theme parks worth $2.7 billion has also been announced.