The second phase of the project is scheduled to be completed by 2016, RTA chairman Mattar Al Tayer said.
The expansion will see an addition of 4,300 hotels rooms over the next three years, state news agency WAM reported.
The fund had revenue of Dhs91.2 billion ($24.8 billion) for the six months ending June 30, 2013, compared with Dhs77.3 billion in the same period in 2012.
Abbas Yazdi, a businessman who owns a general trading company in Dubai, disappeared last June.
The company plans to add budget hotels to meet growing demand
Up to 25 per cent of the carrier’s fleet will be grounded during the 80-day runway closure.
Emirates made a profit of Dhs3.3 billion for the fiscal year ending March 31, it said in a statement.
The emirate is also mulling a law that would mandate the private sector to develop green areas in the city, a senior municipality official said.
The Dubai-based contractor said is planning a series of acquisitions and mergers.
The budget hotel rooms span 26 sqm, with prices around Dhs300 a night
The group will launch four new projects in the UAE and Saudi Arabia by 2015, officials said.
The hotelier is currently mulling six projects in Dubai, says chairman.
Tesco frozen, dry grocery, organic food and FMCG products will available during the first stage of the rollout, the retailer said.
The company’s profits rose on the back of gains from the sale of investment properties.
The value hotel brand plans to supply over 1,750 new hotel rooms and serviced residences.
State-linked firms are likely to repay obligations ahead of schedule.
IMF official asks Dubai officials to look at stricter measures such as those used in Singapore and Hong Kong to cool property market.
The firm is also looking to expand its Indian Ocean portfolio with potential contracts in Thailand and Sri Lanka.
The airline has allocated up to three per cent of its revenue on marketing and promotion, says senior executive.
Dubai accounts for a quarter of output of the UAE’s economy.
Airlines are expected to follow Emirates to DWC when growth requirements are met.
The firm also confirmed that it planned to sell off some assets.
The new entity is expected to begin operations within a couple of years, Dubai’s tourism chief confirms.
The $50 million joint venture would fill a current market gap, a company executive said.
Revisiting why Dubai hosting Expo 2020 should ring in investor and consumer confidence, writes the founder and president of Nasser Saidi & Associates.
Kachins Group managing partner Ravi Ramchandani talks about why stand alone stores click in the mall rich Dubai.
Chief executive Osman Sultan was bullish on the company’s prospects despite a slow net profit growth of 4.5 per cent in the first quarter.
The bank’s chief executive declined to name the acquisition target.
Luxury brand’s third Dubai property blends French culture and art and targets business and leisure travellers given the proximity to DIFC and Dubai Mall
The bank made Dhs636.6 million ($173.3 million) in the opening three months of the year, it said in a statement.