05/24/2016

Dubai Holding unveils “Marasi Business Bay,” an over AED one billion waterfront destination along the Dubai Creek

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

  • Gergawi: At the heart of the extension to the Dubai Creek, Marasi Business Bay is set to become an integral symbol that is central to the city’s history and identity –  adding a new dimension to the housing, retail and tourism sectors
  • Gergawi: A new waterfront destination along the Dubai Water Canal offering the region’s first yachting destination and unprecedented lifestyle experiences by the water

Dubai, United Arab Emirates, May 24, 2016: 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 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.”

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.”

Project Details:

12 kilometres waterfront promenade, where waterfront experiences stretch to a new dimension
The development embraces one of the longest water-side promenades in the Emirate of Dubai, spanning almost 12 kilometres. Divided into three uniquely themed main areas, The Yacht Club, The Park and The Pier, Marasi Business Bay has been designed around entertainment and leisure experiences.

Five palm tree-lined marinas
Presenting a world rich with wonders waiting to be discovered onshore and offshore, the unique waterfront will host five palm tree-lined marinas with 1,250 berths, alongside onshore boutique shopping and a range of leisure and entertainment facilities.

Water homes: a new way of life in the heart of Dubai

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.

Water-side promenade, open spaces and floating restaurants

The development will feature a range of local and international businesses and a total of 250,000 square metres of open space, including parks and the waterfront promenade. Over 100 shops and outlets span approximately 16,000 square metres. The Park area spans almost 60,000 square metres.

The Yacht Club: a new touristic aspect along the Dubai Creek
The Yacht Club will feature the first water homes in the UAE, providing views unlike any other in the region. And with its prime position along the waterfront promenade, these luxury homes will offer leisure and retail spaces for luxury dining, retail and entertainment facilities.

Fadel Al Ali, Chief Executive Officer, Dubai Holding, said: “Dubai Properties Group enjoys a long standing experience of creating unique and global destinations. Dubai Properties has an extensive experience spanning more than ten years in the field of planning, developing and managing a diversified portfolio of famous destinations and projects that respond strategically to the needs of the diverse city of Dubai and the requirements of its residents. Dubai Properties, through the smart and strategic development of destinations, seeks to enrich the lives of residents and visitors alike and to promote growth and economic diversification in the UAE.”

Al Ali added, “Marasi Business Bay is yet another strategic project of Dubai Holding, set to mark a first in the city’s urban fabric with unique mixed-use landmarks. Harnessing the excellence and track record of Dubai Properties and innovation that runs across the Group, Marasi Business Bay is being developed with the aim of boosting the tourism industry in Dubai, and will reinforce Dubai’s position as a global tourism destination, in line with the UAE Vision 2021.”

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