Whenever Dubai thinks of doing something it definitely believes in doing it big and doing it beautifully different. And this time, Dubai has opened gates for the world's most beautiful garden, "Dubai Miracle Garden". The world's largest flower park - Dubai Miracle Garden total area of over 70 thousand square meters and a length of footpath 4 kilometers includes special vertical and horizontal landscaping designs, each area has special design. The park has collected more than 45 million flowers of 45 varieties, many of which first brought the Presian Gulf. Park has already been informally as "an oasis of color" because in its territory are the flowers of 60 different colors. One of the most notable pieces in the park was created from flowers portrait of the founder of the UAE, Sheikh Zayed ben Sultan Al Nahyan, surrounded by seven huge hearts, symbolizing the seven emirates. Park expects to win the world famous for its "flower pyramid" height of 10 meters and an area of 144 square meters, as well as a wall of flowers with height of 3 meters surrounding a park. It is currently batting for a Guinness Record for the world's longest flower wall with a one-km circumference. A second phase of the project is set to see new retail, restaurants, souvenir shops, plant nurseries and a multi-storey car park and work will start on site in the middle of the year.

Damac Properties announced its first major new product launch since 2008, with 295 premium serviced hotel apartments in the Burj area of Dubai, reported the Arabianbusiness. The Distinction will be a 195 meter, 53-storey tower with views of the fountain, mall and the Burj Khalifa, the world's largest tower. The developer said in a statement that the launch was on the back of "improved market sentiment" in the emirate. The Distinction will "serve the very top top-end luxury sector of the emirate's real estate market". Dubai is in the grip of a new era of real estate expansion following the announcement of the multi-billion dollar Mohammed Bin Rashid City. "Luxury projects in prime locations are driving the UAE property resurgence and The Distinction will provide the quality of finish and service expected at this end of the market," said Niall McLoughlin, senior vice president, Damac Properties. Main contractor, ANC Contracting, has already started work on the project, which is set for completion in the first quarter of 2015 and will be a mix of studios, one, two, three and four-bedroom penthouses. The tower will include a luxury spa, a gymnasium and swimming pool. Damac has so far completed 37 buildings across the UAE, with 7,817 units and nearly 14,000,000 sq ft of space.

Seeking to cement its position as a Middle East center for transport and tourism, Dubai has unveiled several grandiose construction projects that bear some of the hallmarks of the debt-laden boom years that nearly brought the emirate to its knees, reported The Wall Street Journal. Last month, Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum ordered the construction of a new city development named after himself, a project that could cost $10 billion, according to some estimates. It envisages 100 hotels, the world's largest shopping mall, parks, art galleries and exhibition centers. Soon after, he announced plans for a $2.7 billion leisure complex of five theme parks. Dubai also is pushing its candidacy to host the World Expo in 2020, the first time a city in the Middle East would host this event, which would involve the construction of an exhibition center on the outskirts of the emirate. While Dubai is enjoying an economic recovery fueled by a surge in key areas such as trade, tourism and transport, it still has to repay roughly $100 billion of debt from the previous property boom, which ended in 2008. The plans raise questions about how the ambitious construction will be financed and whether it will lead to more oversupply in a still-fragile property market. "Dubai was built with unbridled vision, and the recently announced aspirations will be tempered by lender appetite, competition for finance in other regional markets and increased levels of diligence by more experienced investors," said Rizwan Shah, managing director, corporate finance at Deloitte Middle East. "Funding sources and structures for Dubai will need to be different than those that were used precrisis," Mr. Shah said. During the boom years between 2004 and 2007, various Dubai-related entities expanded too quickly on cheap debt provided by both local and regional lenders. Once the global crisis set in, property prices in the emirate plunged as much as 60%, leaving banks with a debt hangover they still are wrestling with. When Dubai developer Nakheel was unable to pay back a $4.1 billion Islamic bond in 2009, Dubai had to turn to its oil-rich neighbor Abu Dhabi for a $10 billion loan to stay afloat. Some are starting to worry that Dubai is repeating the mistakes of the past by stoking another property boom. "Have we learned? We all say we have, but a lot of people are doing the same thing that they were doing three to four years ago," said Peter Jodlowski, chief financial officer at the Emirates Investment Authority, one of country's wealth funds, at a recent financial conference. "So in five years' time, we'll all be asking: How did that happen?" He and other attendees at the conference were discussing corporate governance in the region and the role banks had played during the buildup to the crisis.

The second phase of the tallest hotel scheme in the world is to start in Dubai. The Vice President of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid ordered the start of the second phase of Emirates Group's twin tower JW Marriott Marquis Dubai hotel on Sheikh Zayed Road after being shown around the first phase, an 804 room tower, which opened to the public earlier this month. The hotel, which is scheduled to be completed in late 2014 or early 2015, will eventually have 1,600 rooms, making it Dubai's biggest hotel by room number. And at 355 meters tall, the structures will be only 26 meters shorter than the Empire State Building in New York. The hotel also boasts the largest function room in the Middle East and 19 restaurants.

Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum announced plans to build a new multi-billion dollar project called Mohammed Bin Rashid City. The new city project will be built by Dubai Holding and Emaar Properties in what is being described as the biggest real estate joint venture in the region. No value has been given for the project but plans include building the world's biggest shopping mall, more than 100 hotels, golf courses, a hub for the arts and centers to develop small businesses. The development will be located between Sheikh Zayed Road, Emirates Road and Al Khail Road. It will include the "Mohammed bin Rashid Gardens" project, which was first announced in 2008. The original master plan suggested the gardens would be 74.3 million square meters, and would cost US$ 60 billion to construct. It is not clear whether the original plan is being utilized, or a new revised plan would be adopted. The release said the park would be 30 percent larger than Hyde Park in London, which is 1.4 million square meters. The project will also include the Mall of the World. It is anticipated the mall will have the capacity to handle 80 million visitors a year. The project will comprise four key components. The first component will focus on family tourism, and will include a giant park and a family entertainment center set up in collaboration with Universal Studios and hotel facilities. The second component, focusing on retail, will feature the largest shopping mall in the world called Mall of the World. Dubai already boasts the largest mall in the world, Emaar's The Dubai Mall. A third component will include the largest area for arts galleries in Middle East and North Africa while the fourth component will see the development of facilities to provide "an integrated environment for entrepreneurship and innovation in the region". The new city will also include residential areas built on green building standards in terms of energy consumption, waste treatment and conservation of natural environment. It will also feature a number of golf courses under well-known international names.