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Nakheel takes over Limitless
Limitless, which once attempted to build a 75-kilometre inland waterway called the Arabian Canal, was excluded from Dubai World’s restructuring plan, unveiled in March. Limitless has already succeeded in rolling over a $1.2 billion Islamic loan due in March.
Bidding starts for Arabian Canal phase 2 contracts
Tristar Transport & Contracting is carrying out the excavation of part of the 75km long canal, including removing more than 200 million cubic metres of earth to be re-used to create new landscapes, including valleys and hills up to 70 metres high.
Dh224b Arabian Canal to reshape New Dubai
Up to 150 metres wide and six metres deep, the canal will flow inland from Dubai Waterfront, passing to the east of the new Dubai World Central International Airport before turning back towards Palm Jumeirah.
Arabian Canal project plots available soon
Limitless will start selling plots of land surrounding its Arabian Canal project to third-party developers in the next three months. Some of the land will be retained by Limitless for waterfront development.
Factbox: Dubai World restructuring plan
Limitless World, which once attempted to build a 75-kilometre inland waterway called the Arabian Canal, and which has a $1.2 billion loan repayment due later this month, was left out of from Dubai World’s restructuring plan.
Dubai’s Limitless target of first tribunal claim
Limitless, which once attempted to build a 75-kilometre inland waterway called the Arabian Canal, was excluded from Dubai World’s highly-anticipated restructuring plan, unveiled on March 25.
UAE infrastructure to touch Dh80bn
The quarterly UAE Infrastructure Report by Business Monitor International (BMI) reckoned that infrastructure growth in the UAE this year will be fuelled by Abu Dhabi, and to a lesser extent by transport infrastructure projects in Dubai, such as the Green Line Metro project, the Al Maktoum International Airport and the expansion of Dubai Airport.
Emirates to delay move to Dubai’s new airport
Emirates had originally planned to relocate to Al Maktoum International Airport between 2018 and 2020 and now expects to make the move between 2022 and 2030, the Abu Dhabi government-owned newspaper cited Mr Clark as saying.
