Dubai: The first of Dubai’s real estate attractions along the winding Water Canal is all set to open in November itself — the 12-kilometre long Marasi Business Bay Promenade from Dubai Properties.
The opening, which coincides with that of the Canal itself, of the Promenade will feature a cluster of high-end retail and entertainment options. (Work on more than 10 kilometres is over, including the support infrastructure.)
It is itself part of a wider Dh1 billion mixed-use development that will also host Dubai’s first “water-homes”, fully anchored in the water and with access via boats as well as walkways. These properties have not gone on sale as yet though Dubai Properties has already gone through fairly extensive marketing activities on these, including targeted at overseas investors.
Apart from the water-homes, Marasi will have three themed areas — The Marina, The Park and The Pier — and to be completed in phases by 2023. Phase 1, comprising The Marina and The Park, is on track for delivery in the fourth quarter of 2017.
The Business Bay landscape will be redefined with the opening of the Marasi Business Bay Promenade and the Dubai Water Canal,” said Abdullah M. Lahej, Group CEO of Dubai Properties. “Marasi Business Bay, as it weaves its way into the fabric of the city, will become synonymous with what Dubai has to offer ahead of the World Expo 2020.”
Developers are in a race to come up with some of the most enduring attractions along the latest water body in the city. The likes of Damac have already announced tower launches — Aykon City — centred on this stretch. Habtoor City has its hotels and three residential skyscrapers — only one of the three has had a sales launch to date, according to a top official at Tamleek, the estate agent. More info