ABU DHABI, Feb 8 (AFP) - Abu Dhabi is to build a 54 billion dirham (14.7 billion dollar) new city district that will become the new gateway to the capital of the United Arab Emirates and help boost tourism, a statement said.
A master plan for the new district at Al-Raha, located at the entrance to the city of Abu Dhabi, was approved by UAE President Sheikh Khalifa bin Zayed al-Nahayan on Tuesday, it said.
The project is being developed by Aldar Properties, an Abu Dhabi-based real estate development, management and investment company jointly owned by the government of Abu Dhabi and private shareholders.
"Maximising the water frontage at Al-Raha beach, the new city will provide a lifestyle destination embracing residential, commercial, cultural, entertainment and public amenities," the statement said.
The city district, which will be built on an area of 6.8 million square metres (73 million square feet) along the Abu Dhabi to Dubai highway on reclaimed land at Al-Raha beach, will house 120,000 people, it said.
Dubai, one of seven city states that make up the UAE federation, is in the midst of a construction frenzy in its bid to become a regional business and leisure hub and to attract 15 million visitors by 2010.
02/08/2005 15:36 GMT - AFP