Dubai Holding, through its real estate arm Dubai Properties Group, unveiled Marasi Business Bay, a new waterfront destination along the Dubai Water Canal within Business Bay.
The $272m (AED1bn) development embraces the longest promenade in Dubai, spanning 12 km, water homes, floating restaurants, retail options, and five palm tree-lined marinas.
Located on the Dubai Canal Project, 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 project boasts 250,000 sqm of park, and open spaces including the promenade, and also 200,000 sqm of retail and dining destinations.
The development’s residential units, which are to be built on water with boat access, provide direct canal views, and create a new lifestyle destination for its residents.
Being entirely self-funded by Dubai Holding, the entire project will be built in two main phases, and will take around five to seven years to complete.
Five facts you need to know about Marasi Business Bay:
1. 12 km waterfront promenade
The development will have one of the longest waterside promenades in Dubai, spanning almost 12 km, and 15m wide.
Divided into three themed main areas, The Yacht Club, The Park, and The Pier, Marasi Business Bay has been designed around entertainment and leisure experiences.
The developer has already started working on the first six km of the promenade, which is expected to be completed by the end of 2016.
2. Five palm tree-lined marinas
The waterfront will host five palm tree-lined marinas with 1,250 berths, alongside onshore boutique shopping, and a range of leisure and entertainment facilities.
The marinas are a part of the first phase of the project, which is expected to begin in Q4 2016 or Q1 2017.
There will be provisions for transient berthing for visiting boats as well, where people can cruise in their own boats to the restaurant of their choice.
3. Water homes – the residential element in the project
The development’s residential units, which are to be built on water with boat access, will provide direct canal views.
A total of approximately 150 homes will be built, with sizes starting from 1,500 sqft.
Designed by U&A Architects, units will come in two-, and three-bedroom options. The developer claims that detailed designs for the homes are already complete.
4. Open spaces, and floating restaurants and beach clubs
The development will feature a range of local and international businesses, and a total of 250,000 sqm of open spaces, including parks and the waterfront promenade.
Over 100 shops and outlets span approximately 16,000 sqm.
The Park area, which will consists of retail, amphitheatre/event area, and food and beverage (F&B) options, spans almost 60,000 sqm.
5. The Yacht Club
The Yacht Club will feature the first water homes in the UAE, providing views of the canal.
And with its prime position along the waterfront promenade, the club will offer leisure and retail spaces for luxury dining, retail and entertainment facilities.