Dubai plans new 'city', world's largest shopping mall
Published on Nov 24, 2012 10:38 PM
DUBAI (AFP) - Dubai, famed for its mega-projects before it was hit by the global financial crisis, on Saturday announced a new development to open the world's biggest mall and a park larger than London's Hyde Park.
The ruler of the Gulf desert city state, Sheikh Mohammed bin Rashid al-Maktoum, announced the plan for a "new city within Dubai", according to an official statement, naming it after himself.
No cost was stated for "Mohammed bin Rashid City", to be carried out by his Dubai Holding and the publicly listed Emaar Properties, which developed many of Dubai's prestigious projects, including Burj Khalifa, the world's tallest tower.
The plan also features new residential areas, although the emirate continues to have a surplus of units built during a five-year bubble that burst in 2009.
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