Dubai Pearl bets on market revival

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Dubai Pearl is a project buried deep in the consciousness of residents of New Dubai, a vibrant district of high rises and villas nestled between the Palm Jumeirah development and Jebel Ali, the emirate’s main port and industrial zone.

For years road signs have pointed drivers to an undeveloped circle of land, sandwiched between the area’s education and media parks, where the $4bn project is supposed to take shape.

But when the Al Fahim Group took over the scheme in 2007 from the Omnix Group, the former owners, the original plans were redesigned. It began preparatory works only in late 2008 – just as the full impact of the economic crisis in Dubai was emerging.