Dhs 1 Billion Project, Marasi Business Bay
Dubai Properties Group will invest over 1 billion AED, for a new waterfront destination called ‘Marasi Business Bay’ along with Old creek. The development encapsulates the longest seafront walkway in the Emirates, spreading 12 Km, residential houses in water, restaurants on a float, retail shops, and 5 palm-lined marinas. This project is going to set a landmark of being an unprecedented and unique waterside destination concept in the UAE and indeed the entire Middle East.
Commenting on the new project, H.E. Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding, said: “The new project will strengthen the historic relationship between Dubai and its creek through the addition a new dimension to the residential, tourism and leisure offerings along the Dubai Creek.”
H.E. added: "Our objective is to create innovative and unique developments, that accentuates the essence of Dubai’s culture and heritage and presents what the future Dubai looks like; a city that enriches the lives of its residents and visitors alike through unparalleled lifestyle experiences, adding value for investors and Dubai's economic diversification.”
H.E. added: “Located along the Dubai Water Canal, this waterfront destination embraces the longest waterside promenades, comprising a space rich with green spaces. Our goal is to build a way of life. Our approach to the real estate landscape has gone far beyond the construction of towers and buildings, to encompass innovation and creativity; a symbol of the civilization of Dubai and the UAE and an essential instrument contributing to the happiness of the people as envisioned by His Highness Sheikh Mohammed bin Rashid Al Maktoum.”
Seafront walkway will be divided into three areas, The Park, The Pier and The Yacht Club. All of them will be full of entertainment and leisure. Five palm tree-lined marina is going to be full of amusement offshore and on-shore including retail shopping outlets. Marasi Business Bay gives prominence to be the region’s first purpose yachting destination with alongside on shore boutique shopping, a range of leisure, entertaining features, café house and restaurants on float boat. The development’s residential units, which are to be built on water with boat access, provide unparalleled direct canal views and create a unique new living proposition for the real estate market in Dubai. Well, it looks like Dubai Marina has got competitors because Dubai Marina will look very small in comparison to Marasi business Bay. 3 RTA marina stations will occupy space in Marasi business bay. Confirmation of 2 main resorts at the bank of Dubai water Canal, first is Aykon city, 80 storey, 6 towers development Hotel and residence and 63 storey DAMAC Maison Serviced Hotel residences affiliated with ultra-luxury features.
A total of approx. 250,000 meters2 of open area, consisting parks and seafront walkway. More than 100 shopping outlets will acquire 16,000 meters2 space. The park will be ready by the end of this year. But the whole project will take time till 2020.
