On 4 April 2008, the National Development Minister Mah Bow Tan announced a plan to develop the Jurong into a commercial hub outside the Central Business District (CBD). The new Jurong Lake District will offer a potential development area of 360 hectares, roughly the size of Marina Bay. The Urban Redevelopment Authority said that some 750,000m2 of land will be set aside at Jurong Gateway, expected to attract billions of dollars in development, for offices, hotels, food and beverage and entertainment uses. However, analysts say that the short 10–15 years time frame may be a little tight, due to the number of projects in progress and a dampened global economic climate.