The real estate authorities of the Dubai government have unveiled plans to create the world’s first property-themed city to serve as an exemplar of green building and sustainability.
The ambitiously titled "Perfect City" will bring all of Dubai's real estate-related businesses and regulatory bodies into a single area, following in the wake of two similar industry-themed urban developments, the Dubai Media City and Dubai Internet City.
The city will serve as the new headquarters of Dubai Land Department and the Real Estate Regulatory Agency Branch, and will feature a Real Estate Court, Real Estate University, Real Estate Museum and Sustainability Centre.
The Perfect City will also host a Real Estate World Centre, which will house international property firms, real estate development companies, and the offices of real estate brokerages.
In addition to providing a single, concentrated centre for Dubai's real estate sector, its designers intend to make the Perfect City "100 per cent sustainable," with 75 per cent green space and 20,000 trees to help reduce its carbon footprint, as well as picturesque water feature in the form of a 500-metre long canal.
The unveiling of the new project coincided with Dubai's Cityscape Global, giving the emirate a sterling opportunity to show the world its commitment to sustainability in the construction and real estate sectors.
"We decided to surprise visitors to this year's Cityscape with this unique initiative that showcases a quantum leap forward in the concept of sustainable real estate developments," said Bin Mejren, the director general of the Dubai Land Department.
Mejren said that the Perfect City would embody a "comprehensive system of sustainable real estate solutions" that would would help support Dubai's "continued evolution as the world's foremost innovative property sector."
Work on the project is slated to commence at the start of 2015, with an expected completion date of 2021.