The Dubai Technology and Media Free Zone Authority (DTMFZA) is supervising the construction of 40 new buildings, to be finished early this new year.
“Overall more than 200 sites are under construction, of which some projects are suspended. The progress of the sites is going on in a normal pace. We expect at least 20 per cent of the buildings to be completed by early 2012,” said Mohamed Al Bahri, Executive Director of the Zoning Authority Development Control, a department of the DTMFZA.
This is the first time that the authority has made public the fact that there are 144 commercial and 288 residential properties in master developments which they are supervising. In addition there are another 25 hotels being developed under the supervision of the DTMFZA.
The DTMFZA regulates 440 million square feet of developed land which includes 192 million square feet of land which is already built up in Dubai.
The Authority is the only independent regulator of the Dubai Technology and Media Free Zone. Within this Zone are nine business parks which are managed by Tecom Investments and include, Dubai Internet City, Dubai Outsource Zone, Dubai Media City, Dubai Studio City, International Media Production Zone, Dubai Knowledge Village, Dubai International Academic City, DuBiotech and the Energy and Environment Park (Enpark.)
Al Bahri explained how the Authority plans to develop the remaining land under its supervision, saying that there is a new master plan for development that is now be mapped out, and all plans will be decided only in close partnership with the master developers to guarantee that the development will meet today’s market needs.