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A three-stage long-term strategic development plan has been drawn up for the emirate of Dubai, according to Qassim Sultan, director-general of Dubai Municipality.
In the first five-year phase (2001-2005), 11,000 hectares of land will be developed. The second phase (2006-2010) will see the development of 16,400 hectares of land, while the third (2011-2015) entails development of 14,700 hectares of land.
Meanwhile, Rakad bin Salim bin Rakad, UAE Minister of Public Works and Housing, said the construction and real estate market in the UAE represents 13 per cent of the UAE's gross domestic product (GDP) accounting for a total of Dh13 billion ($3.54 billion) between 1992-1998.
The Minister also indicated that the UAE was working towards forming an Empowered Higher Council for Construction and Building in association with the UAE Contractors Association.
