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Waterfront Developments Flowing Into Dubai

A roundup of the cityâs projects on the water launching before 2020

Rima Alsammaraeååäº 2017/07/30|Mansion Global|

Waterfront developments are slowly emerging across the emirate of Dubai, and theyâre making way for new experiences of the city. From Jumeirah Beach Residences to Dubaiâs old Deira neighborhood, each development has a new attraction not yet offered to the cityâs residents and tourists.

According to Aqil Kazim, chief commercial officer at Nakheel, a major development firm based in Dubai, the cityâs coastline was just 70 kilometers long around 20 years ago, but with long-established waterfront developments like Palm Jumeirah, itâs expanded to include more than 300 kilometers, âpaving the way for the development of seafront homes, resorts and leisure attractions that have become the envy of people across the world.â

âWaterfront living in Dubai remains exclusive, yet it is growing in popularity as it offers better value for moneyâand better return on investmentâthan in other key parts of the world,â he said. âAlso, new attractions and facilities, like the West Beach and Palm Promenade projects on Palm Jumeirah, are being added to existing waterfront communities, enhancing their popularity in the process.â

With the World Expo 2020 to be held in Dubai, the emirate is bustling forward to complete many of its planned projects in the next three years. Reports have predicted that about 23,000 new homes per year will be needed in the lead-up, with developers and consultants now pushing for mid-market expansion, rather than a continued focus on five-star and above units. And in preventing a supply glut, many are turning toward the serviced apartmentsâor fully furnished apartments that can rented out to travelers or residents by the ownersâas a solution.

More: Dubai Opens Floodgates to Waterfront Living in City Centre

Regardless, with the predicted increase of tourism (25 to 30 million visitors are expected in 2020), Dubai is creating new luxury developmentsâeach one complete with retail, hospitality and leisure entertainment.

Upcoming developments include Bluewaters, which will be home to the first Ferris Wheel in Dubai, and the largest in the world; and Marasi in Business Bay, which will provide floating restaurants and the Middle Eastâs first purpose-built yachting hub. Deira Islands, from Nakheel, will be a âwaterfront city,â providing further investment opportunities, Mr. Kazim said.

And with each development promising to be a new landmark of Dubai by 2020, below are some upcoming luxury developments that will not only transform the cityâs coastline, but together, will provide new dimensions to the Dubai brand name.

Bluewaters, Jumeirah Beach Residences The new waterfront development just off the coast of Dubaiâs Jumeirah Beach Residences will feature residential units, the Ain Dubai observation wheel and leisure outlets. Developed by Meraas, the construction is nearly 75% complete, with its handover to clients and owners slated for the first quarter of 2018.

In addition to Ain Dubai, which will be the tallest and largest observation wheel in the world and predicted to be a tourist hot spot when it opens in 2018, Â Bluewatersâs infrastructure includes 10 luxury apartment buildings and 17 townhouses, over 200 retail and dining outlets, hotels and a plaza. Â The mid-rise towers will be home to 698 one-, two-, three- and four-bedroom, glass-fronted apartments.-Pricing information for the apartments hasnât been released yet.

Its apartments, penthouses and townhouses will offer community-driven amenities, including private landscaped gardens, four swimming pools, a childrenâs pool, splash pad, play area and a dedicated fitness area complete with two basketball courts and two gyms.

âThe idea behind Bluewaters is to create a family-oriented neighborhood, where homebuyers can put down roots and feel a deep connection to the place they call home,â said Brian Schofield, vice president of projects at Meraas. âThatâs why weâre committed to ensuring work on each of the islandâs features continues moving forward simultaneously.â

At the moment, five of Bluewatersâs major projects are currently under construction: Ain Dubai as well as the mid-rise towers and townhouses, the boulevard [the main street running through the development), as well as two hotels.

More: Dubai Villa Sells for AED100 million

Marasi, Business Bay Dubai Properties

Developed by Dubai Properties, a real estate master developer and asset manager, Marasi in the emirateâs Business Bay district is an AED1 billion (US$272 million) mixed-use development that will offer the regionâs first yachting location with nearly 200 water homes and restaurants.

Located along the Dubai Water Canal, Marasi will boast three main areas: The Park, The Pier and The Marina, to hold 700 berths.

âMarasi is set to change the face of Business Bay and Dubai as we know it today,â said Abdullah Lahej, group CEO at Dubai Properties Group during its launch at Dubaiâs International Boat Show earlier this year. âIt is part of our plans of creating destinations that provide exceptional lifestyle experiences for the futureâ¦ reinforcing Dubaiâs position as a global tourism destination.â

Along with onshore and offshore retail, leisure and entertainment facilities, Marasiâs residential units will consist of two- and three-bedroom homes starting at 1,500 square feet. Built on water and anchored to the canal basin, the homes will offer residents direct water views, private balcony pools and individual boat access.

The first phase of the project will be completed in the third quarter of 2017, with the remaining roll-out planned over the course of 2018.

Deira Islands, Deira A new 15.3-square-kilometer waterfront that will transform old Dubai, with 4.5 square kilometers being developed by the projectâs master planner Nakheel, Deira Islands will offer new retail, entertainment and residential facilities.

Adding 40 kilometers of coastline (including 21 kilometers of beachfront property) to Dubai, the four-island project is paving the way for hundreds of new buildings, including hotels, serviced apartments, mixed-use buildings and residential waterside developments.

Meanwhile, the islandsâ attractions will include Deira Mall, Deira Towers and Boulevard (where Nakheelâs residential units will be), Deira Islands Night Souk, a 30,000-seat amphitheater, and a marina for large yachts.

More: Click for more Dubai real estate news

Construction of the nearly 3,000 apartments and townhouses is underway, with Deira Islandsâ private units to be spread across 16 towers and four clusters. Each will incorporate a swimming pool and retail, dining and recreation spaces. The residences will consist of one-, two- and three-bedroom apartments. Â Â Pricing information wasnât available.

Sales of the projectâs residential units will begin in the fourth quarter of 2019, with complete delivery by 2020.
