Emaar Properties, the largest Arab real estate company by market value, said it will develop a tram system for its $20 billion Burj Dubai project in the United Arab Emirates.
The 4.6 kilometre project will cost Dh500 million ($136 million), with the first phase opening next year and the second in 2010, the Dubai government affiliate said in a statement late on Wednesday.
The system aims to meet the transport demands of more than 30,000 homes in the Burj Dubai project, Emaar said. The project includes the world's tallest building, Burj Dubai tower, being built at a cost of about $900 million. (Reuters)
Emaar to build $136m UAE tram system