Work begins on $1.6bn Bluewaters island in Dubaion May 21, 2013
Meraas began construction of its Bluewaters island project on Monday, according to the Dubai Chronicle. The man-made project is located 500m off the coast at the opposite end of Dubai Marina from the Palm Jumeirah.
Of the total $1.6bn cost of the project, an estimated $270m will go into the creation of the main attraction - a 210m-tall ferris wheel dubbed the Dubai Eye, inspired by the 135m-tall London Eye in the UK. It will best the latter to become the world's tallest ferris wheel.
While Van Oord, the Dutch firm known for its worked on Palm Jumeirah, is conducting the dredging work for Bluewaters, the design and construction of the Dubai Eye will be entrusted to Hyundai Contracting and Starneth Engineering – the two companies that were also responsible for building the London Eye.
Once complete, the development will have a direct link to Sheikh Zayed Road, a monorail connecting to the Dubai Metro, a pedestrian bridge and a cable car to Jumeirah Beach Residence.
The project is estimated to take five years to build, with completion due in Q1 2018.
Meraas Holding is headed by the Vice President of the United Arab Emirates and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum. Currently, the company is also working on ‘The Beach’ shopping and entertainment complex, which will be located on the marina’s promenade.
United Arab Emirates
- Deyaar: Record increase in net profits for Q2 2014
- QD-CPC announces new business division
- GCC govts to lead $898bn construction boom by 2020
- New office space causes Riyadh rents to fall
- Saudi firms win new Jizan deals worth over $18m
- EFS wins MENA FM contract with General Electric
- Norwegian innovators bags Kuwait waste sorting win
- Emaar's Downtown cultural quarter moves on site
- Empower expands Business Bay unit
- Cat dealer secures $700m funding, cites ME growth