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Multi Billion Dollar Smart City on the Launch by Dubai Holding In South Korea

On 6th October, Dubai Holding has launched a Smart city in Seoul, South Korea which is worth a multibillion dollar. This smart city in Korea will strategically be located in between 2 cities of Seoul and Incheon and is quite near to 2 international airports.

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Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs and also the Future Chairman of Dubai Holding were present on the launch along with the presence of South Korean government officials, businessmen and investors.

This city is the latest addition to the Dubai Holding’s network based on the vision of Mohammed Bin Rashid to build a sustainable economy for the UAE people and of the world as well. Smart cities will give the government a chance to provide a balanced and comprehensive atmosphere for living across social, professional, environmental and economic areas of life.

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Picture Courtesy: planetabuja.com

The initiative between UAE and South Korea will also contribute positively on both the country’s economies. It has an important role in furthering the relations between both the countries. This step will reinforce UAE’s leadership in urban development innovation and the commitment it demands in transferring the knowledge and experiencing exchange.

This is the 3rd initiative by Dubai Holding in Smart City. In February, coming year it will unveil the phase 1 in Kerala, India. It’s a city which is designed to live up to the knowledge services and IT. The philosophy behind is based on creating a global network of sustainable smart cities intertwined capitals of economic chances and also as incubators for science, technology and knowledge based economy in various parts across the world allowing opportunities for growth and prosperity for individuals, businesses and investors.

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The total amount of trade between the two cities has reached Dh122.7 billion from the year 2010 to 2015. The two nation’s economic development is based on the modern technological capabilities, infrastructure and advanced knowledge.

Dubai Holding is implying its strategy of sustainable development to diversify its investments into latest insights on innovation leading sectors which involve knowledge, economic and technological zones, building the base of an investment culture that adds value and support national economy.

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