Dubai is already home to the largest indoor ski resort in the world which was opened in 2005 in the Mall of the Emirates, boasting a 400-metre slope that saw it entered into the Guinness World Records.
Dubai , known for extravagant projects and scorching temperatures announced the construction of an even bigger ski resort that will beat the Emirate’s own world record as being the largest in the world.
The new indoor ski resort will have a 1.2km run, three times the length of the Mall of the Emirates slope and will form part of a huge hotel, residential, shopping and marina complex known as Meydan One .
The new covered ski resort comes as part of a project that will also include the world’s tallest residential tower at 711m, a dancing fountain sweeping up to 420m, a vast shopping centre and a 350-room hotel and marina, according to a government statement.
The project is estimated to cost up to €6.3bn and will extend from the Meydan race track in the Emirate’s desert to Burj Khalifa, the world’s highest tower, reported Dubai newspaper Al-Bayan.
Meydan chairman Saeed al-Tayer said: ” In a city which never stops innovating, today’s announcement is significant for the future of Dubai and the UAE. “
The first phase of the project will house up to 78,000 residents and should be completed in the next five years, in time for the UAE’s hosting of World Expo 2020, according to its promoters.
Dubai has a reputation for being a liberal city in a conservative environment making it a commercial and financial hub, attracting businesses and expatriates seeking to establish a presence in the Middle East.
Not one to do things by halves, the Emirate’s consistent delivery of cutting-edge innovation in architecture has made its skyline one of the most famous in the world.
Having enjoyed the housing boom for years before everything came crashing down in 2008, Dubai has learned its lessons and its property market has achieved a good level of stability. The Emirate’s hotels and hospitality sector is booming, with government investment pouring into its tourism infrastructure ahead of World Expo 2020.
Dubai has emerged as a tourist destination in recent years as a result of the Emirate’s capital investment in the sector, recording 13.2 million visitors in 2014 with a target of 20 million annually by 2020.
There’s no shortage of investment opportunity in Dubai as the Emirate steams ahead towards World Expo, particularly in its hotel rooms. 11.63 million tourists representing 88% of visitors to Dubai last year stayed in Dubai’s hotels, a number that is expected to increase in 2015 according to The Dubai Department of Tourism and Commerce Marketing .
The region’s press service Gulf News recently reported increasing investment in Dubai’s hotel sector, with buyers attracted by new and lucrative opportunities: ” Investors seeking up to an 8% return on investment are turning their sights on developments which offer such opportunities, particularly those on The Palm Jumeirah. Three developments in particular are worthy of further investigation and are the subject of intense interest at the moment — The Kempinski Emerald Palace Hotel, Anantara Residences and The 8, all on The Crescent. “
With Dubai’s property market holding steady so far in 2015 and the anticipated demand for hotel rooms increasing yearly, now may be the time for investors to strike.
Source:: Property show rooms