With Cityscape Global coming to a close in Dubai, we look at the various projects getting a head start next year.
Project: Mall of the World Location: Al Sufouh 1 World’s Largest Mall – 80 Hotels / 20 Hotel Apartments – 20,000 rooms – 7km Retail Promenade – Wellness District – Indoor Theme Park Dubai Holding’s plans for a massive indoor city and shopping complex four times the size of Dubai Mall are well publicised. Consultants for the estimated $6.8 billion project were being hired towards the end of 2014 and the first phase is expected to complete within three years. The scheme, expected to cover 48 million sq ft, will also house the world’s largest indoor theme park, covered by a glass dome that will open during the winter months, around 100 hotels, a wellness zone, serviced apartment buildings and 7km of climate-controlled promenades, something that is offered nowhere else in the world. Once completed, the development is expected to welcome around 180 million visitors annually.
Project: Dubai Creek Harbour Location: Ras Al Khor Mixed-Use Towers – Apartments / Villas – Hotels and Hotel Apartments – Marinas – Major Retail Mall both inside as well as outside shopping. Emaar Properties and Dubai Holding have already started work on this development alongside Dubai Creek, which is expected to be three times the size of Downtown Dubai and house the world’s tallest twin towers. When complete, it will comprise 3,664 office units, 8 square feet of retail space, 39,000 residential units and 22 hotels with 4,400 rooms. It is estimated to take 18 months to complete and cost around $800 million.
Project: Dubai Canal Project Location: Along Safa Park 3km Canal – 4,500 apartments – 44 townhouses – 19 villas – 65,000 m2 offices – 37,000 m2 retail – Sports Centre – Public Park Work is under way for the Roads and Transport Authority (RTA)’s ambitious AED2 billion project to create a canal and accompanying retail from Downtown Dubai to Jumeira. Bridges along Al Wasl Road are being built and a canal is being excavated alongside Safa Park. The project is expected to be completed by mid-2016.
Project: Mohamed Bin Rashid City Location: MBRC Detailed plans for this huge mixed use scheme comprise a Universal Studios complex, public park bigger than London’s Hyde Park, residential development, golf course and 100 hotels. The first phases of District One, Meydan Sobha’s element of the scheme, are nearing completion and sales opened to the public earlier this year.
Project: Pearl Jumeirah Location: Jumeirah The project is developed on a reclaimed land covering an area of circa 0.8 million m². The project is segregated into seven residential areas with a total of 300 villa plots. The other components of the development include a Town Centre (with approximately 8,400 m² of retail area), two local mosques, pre-school educational facility, hospitality projects overlooking the waterfront, two open beaches and a two kilometre promenade linking the overall development. Looking at the prime location of the development, it is understood that the plots will be developed into a luxury residential villa community that can accommodate demand from current residents and the future population of Dubai.
Project: City Walk Location: Al Wasl It’s a mix used development offering residential and retail space along Al Wasl road. The residential component comprises of 21 low rise buildings of ground plus 3-4 storeys structure offering circa 28-32 units per building. In total the development is expected to offer 600 units with a mix of one, two and three bedroom apartments. With regards to the retail space, the phase of the project is already open offering 13,000 m² GLA of retail space while phase 2 is expected to see further retail addition of 10,000 m² of space.
Project: Jumana (Island 2) Location: Jumeirah Jumana Island (also known as Island 2) spreads over a land area of circa 0.6 million m² and is located off Jumeirah. The island will be connected through a 300 metre long bridge to the Jumeirah road. The development will comprise of low-rise apartment buildings, boutique resort, super-luxury beachfront villas and a private marina. The development is expected to offer circa 140 villa plots ranging between 1,485-3,345 m². As per our discussions with real estate agents, it is understood that villa plots are currently being offered on freehold basis to investors.
Project: Blue Waters Location: Dubai Marina The Bluewaters Island is a reclaimed land located towards the south-western end of Dubai built at a cost of AED6 billion. It will feature demarcated retail, residential, hospitality and entertainment zones within the island. It is strategically located in the centre of Dubai with easy access to old and new Dubai areas. It lies in close proximity to luxury residential and hospitality properties from Dubai Marina, Jumeirah Beach Residence and the Palm Jumeirah and benefits from its location and accessibility to major tourist and leisure facilities. It can be accessible through Sheikh Zayed road (E11), Sufouh road and Al Marsa road. The main attraction of the overall development is the 210 metres Ferris wheel ‘Dubai Eye’.
Project: Dubai Opera Location: Downtown The centrepiece of The Opera District in Downtown Dubai, Dubai Opera is a 2,000-seat, multi-format theatre. Due to open in 2016, Dubai Opera will accommodate opera, theatre, concerts, ballet, art exhibitions, orchestra, film, sports events, and seasonal programmes. The Opera District will also house a museum of modern art, two art hotels, design studios and galleries. It also features a 66 storey residential tower, Opera Grand, with over 200 two-, three- and four-bedroom apartments.
Project: Deira Island Location: Deira Island Nakheel’s reincarnation of the Palm Deira, The Deira Island project is made up of four-islands. The islands will offer opportunities for mixed-use waterfront development, all master planned by Nakheel. In total the island will add more than 40 kilometres (including 21 kilometres of beachfront) to Dubai’s existing coastline and provide the necessary infrastructure for the development of hotels, serviced apartments, retail and residential properties. It is understood that Nakheel intends to develop the whole of the south island, with a vision to create a new and unique creek-side destination. This will include a night-market with more than 1,400 retail units and restaurants, as well as additional anchors. The project will also include a 250 key hotel, an amphitheatre with capacity 30,000 people which is to be used for hosting concerts and events, a number of different marina facilities to accommodate both large and small yachts. The island will also have additional waterfront plots zoned for hospitality developments.