Dubai Announces US$1 Billion Project To Build Taj Mahal Replica

by LSuarez on October 18, 2012

in Tourism

The Taj Arabia will be four times the size of the original and will be marketed as a luxury wedding venue to the hundreds of thousands of Indians living in the UAE, or nearby.

Dubai has resurrected a billion-dollar project to build a replica of India’s Taj Mahal in the desert near the city.

The Taj Arabia will be four times the size of the original Taj Mahal but will take just two years to build, as opposed to the 22 years required to construct the original mausoleum in the 17th century. Apart from its inflated size, the Taj Arabia’s external appearance will be identical to the façade of the iconic Indian building.

Treasures Within

Inside, however, Taj Arabia will be totally different. The massive structure will be built to house super-deluxe weddings. The structure will house a 300-room five-star hotel, spas, swimming pools, night clubs and a lot of retail space. The structure will be marketed to the hundreds of thousands of Indians who live in the UAE and surrounding countries. If they can afford it, they will be able to hold a spectacular wedding.

Developers hope it will be known as the “New City of Love”. A voiceover on the project’s website announces: “Imagine if this immaculate tribute to love could be the setting for the milestone event in the life of a man and woman. This dream will soon become reality.”

The Falconcity of Wonders

Meanwhile, Arun Mehra, chairman of Link Global Group, one of the developers, told the Xpress newspaper:

“Currently Dubai is not regarded as a wedding destination. People go to Bali and other exotic places to marry. Now they will come to Taj Arabia.”

The Taj Arabia will be built in the Falconcity of Wonders, a real estate project that will feature replicas of several wonders of the world, and is being developed by Link Global Ltd. It will take its place alongside replicas of the Pyramids, Hanging Gardens, Eiffel Tower, Great Wall of China and Leaning Tower of Pisa.

It will also take its place alongside Dubai’s other iconic construction projects, which have included the world’s tallest building, the Burj Khalifa, the sail-shaped Burj al Arab hotel and a palm tree-shaped archipelago of luxury properties.

Confident Property Market

The decision to build the Taj Arabia is more evidence of the confidence surging through Dubai’s property market. There has been a lot of positive news in the market recently, especially with regard to the sale and rental prices of apartments and villas in well-known locations.

This is great news for Dubai’s developers, especially those operating in the high-end sector, which has been performing exceptionally well. The First Group is the kind of developer that is thriving in the current market. Their luxury hotel apartment projects in Tecom, Metro Central and Grand Central, have a coveted central location in New Dubai.

With the improvements in the market and recovery from the financial crisis, other stalled construction projects are starting up again. Reports from Reuters suggest that many firms at the recent annual Cityscape property show in Dubai with said they are optimistic that demand from buyers will be strong. This year, several billion-dollar projects were displayed demonstrating a confidence in the Dubai market not seen elsewhere in the world.

Dubai has regained the confidence of financiers. The cost of insuring its debt fell below 300 basis points on September 6 for the first time since its 2009 debt crisis. A recovery in trade and tourism has also generated optimism.

{ 0 comments… add one now }

Previous post:

Next post: