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Dubai shrugs off global turmoil with new mega projects

DUBAI, October 6, 2008 (AFP) - A Dubai government firm on Monday announced it will build a "new city" in the booming Gulf emirate at a projected cost of 95 billion dollars, shrugging off the global financial turmoil.
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The announcement came one day after Dubai developers Nakheel said it planned to build a tower which will stand more than one kilometre tall (3,280 feet), beating the city's own world record.

The mixed-use Jumeirah Gardens development will be "an integrated city within a city," to be built over 12 years, Meraas Development said at the opening of Cityscape Dubai 2008, a four-day international real estate fair.

Dubai, part of the oil-rich United Arab Emirates, already boasts the world's tallest building, the yet to be completed Burj Dubai tower, which reached a height of 688 metres (2,257 feet) at the start of September and is still growing, according to developers Emaar.

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It now boasts 160 storeys, the highest skyscraper in the world, Emaar said.

Jumeirah Gardens will stretch north of Sheikh Zayed Road, Dubai's main thoroughfare linking it to the oil-rich emirate and UAE capital of Abu Dhabi, 150 kilometres (95 miles) to the south.

Meraas Development said the project will comp

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