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Dubai Holding Unveils "Marasi Business Bay," An Over AEs One Billion Waterfront Destination Along The Dubai Creek
(24 May 2016)
A breakthrough master-planned waterside development, embracing the longest promenade spanning 12 kilometres, the UAE’s first-ever water homes, retail options, floating restaurants, leisure facilities and five palm tree-lined marinas


 

Dubai Holding, through its real estate arm "Dubai Properties Group", one of the largest fully integrated and community development business in Dubai, today unveiled “Marasi Business Bay,” a new waterfront destination and its largest development along the creek within Business Bay destination. The development embraces the longest promenade in the Emirates, spanning 12 kilometers, water homes, floating restaurants, retail options and five palm tree-lined marinas.

Located on the Dubai Water Canal Project, Marasi Business Bay is set to become a major future landmark in Dubai – an unprecedented unique waterside destination concept in the UAE and the Middle East. Marasi Business Bay features the region’s first purpose-built yachting destination with floating restaurants and cafes, alongside onshore boutique shopping and a range of leisure and entertainment facilities. 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.

Commenting on the new project, H.E. Mohammad Abdulla AlGergawi, 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.”

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H.E. added: “Located along the Dubai Water Canal, this waterfront destination embraces the longest water-side 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.”

H.E. Al Gergawi added: “Marasi Business Bay will be developed in phases, and work has already started. The first phase, The Promenade will be completed by September 2016, in line with the opening of RTA’s Dubai Water Canal Project, followed by The Park and The Yacht Club. A substantial part of the development is set for completion by 2020, with overall works concluded by 2023. The total investment cost exceeds AED one billion, and will be self-financed in partnership with local financial institutions.”

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