Emaar to develop 10-mn sqft waterfront project in Dubai Harbour


September 20, 2017 | By RetailME Bureau

Dubai-based Emaar Properties will develop about 10 million sqft of waterfront residences and a brand-new hotel project at Dubai Harbour, the 20 million-sqft destination developed by Meraas. Dubai Harbour was launched earlier this year by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE vice president and prime minister and ruler of Dubai.

Emaar’s residences and hotel development will have a spectacular waterfront location in Dubai Harbour, between the Jumeirah Beach Residences and The Palm Jumeirah. Drawing on its proven strength in developing and handing over high quality residential and hospitality projects, Emaar will focus on building a series of elegantly designed high-rise residential apartments overlooking the Arabian Gulf.

Emaar’s hospitality project will be operated by its Address Hotels + Resorts and will include branded residences. It will add value to destination through an extensive array of luxurious amenities, restaurants, as well as wellness and leisure facilities set in a breathtaking location.

Emaar’s new residential project will bring incredible value for residents as they become part of one of the region’s vibrant destinations that features the upcoming Dubai Lighthouse, a modern cruise port with two terminals and the Middle East and North Africa region’s largest marina. The residential neighbourhood developed by Emaar will be part of an integrated tourist destination, with the masterplan set to integrate Sky Dive Dubai, Dubai International Marine Club and Logo Island under Dubai Harbour.

“Meraas is committed to bringing innovative destinations and experiences to life that are aligned with the vision of His Highness Sheikh Mohammed, and the strategic objectives outlined in Dubai Tourism Vision 2020 and Dubai Plan 2021. Developments such as Dubai Harbour are central to our efforts to define Dubai as a preferred place to live, work and visit and include several unique features that will create incremental value for the local economy and drive growth in the maritime tourism sector. We are confident that our collaboration with Emaar will reinforce our mission of creating a world-class destination that appeals to people around the globe,” says Abdulla Al Habbai, group chairman of Meraas.

“Developing our share of land in Dubai Harbour, an iconic luxury waterfront destination, to create world-class residences and hospitality projects will add to our portfolio of prime developments in spectacular locations in Dubai. With its array of maritime-oriented lifestyle and leisure attractions, Dubai Harbour will be one of the vibrant leisure and tourism hubs of the city. It adds to the track record of Meraas in delivering unique destinations. Adding to Emaar’s Dubai Real Estate Development business, the residences and hotel project in Dubai Harbour will create significant long-term value for our shareholders. Emaar’s new development will also complement the vision of HH Sheikh Mohammed in establishing Dubai as a global tourism and lifestyle hub,” says Mohamed Alabbar, chairman of Emaar Properties.

Among other features of Dubai Harbour, developed by Meraas and that make Emaar’s residential projects attractive to investors, are the 1,100-berth marina that accommodates small, medium and superyachts, a cruise ship port and two terminals that can welcome around 1.2 million passengers annually, a shopping mall of 875,000 sqft, an events arena, and innovative food and beverage concepts.

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