Mohammed bin Rashid Al Maktoum, Ruler of Dubai has announced that a new district will be created in Dubai, dedicated to developing the Emirate’s fashion, design and luxury sectors.

The “Dubai Design District” will be adjacent to the Business Bay area of Dubai. The district is expected to become a full service commercial hub for design industry-related organizations, brands, and supporting enterprises within the value chain.

It will feature a custom built creative community that will encompass purpose built commercial and retail facilities for established and emerging designers, design institutes, waterfront promenade, convention centre and event venues and related academic institutions.

The first phase is due to be complete by January 2015, with construction of ten buildings already underway.

Located near the Burj Khalifa and Dubai Mall, the district will be operated by TECOM Investments.

In terms of facilities, Dubai Design District will offer residential, commercial, retail and hospitality real estate as well as a creek side promenade with international and boutique hotels, a pop up shop area, amphitheatre and convention centre.

The new district is expected to double the number of visitors to Dubai to 20m by 2020 as well as providing an additional key element in Dubai’s bid to host Expo 2020.

Ahmed Bin Byat, CEO, Dubai Holding, said: “The UAE’s resilient and growing retail and tourism sectors, its strong infrastructure and logistic network, and the potential of the MENASA region, have already attracted several of the world’s top design and luxury brands to set up their regional headquarters in Dubai.

“To further strengthen Dubai’s knowledge-based economy and ensure its sustainability, we must create an environment that would produce and nurture future business leaders and entrepreneurs.

Ahmed Bin Byat said: “Dubai Design District aims to provide this environment for the local talent interested in this sector. Furthermore, these talents will be able to draw on the experience of the leading regional and international operators who we are looking to attract to the district.”