Nakheel's Waterfront starting to take shape

Property developer Nakheel has launched a residential project on its Dubai Waterfront development called Veneto.

Veneto is a core component of Dubai Waterfront
Veneto is a core component of Dubai Waterfront

Property developer Nakheel has launched a residential project on its Dubai Waterfront development called Veneto.

The new development will be made up of 1,400 villas and townhouses, and 1,200 low-rise apartments to accommodate an eventual population of 14,000.

According to the developer, each home will be no further than 2km from the coastline.

Handover for the initial phase of villas is expected in the second half of 2009.

Dubai Waterfront will be made up of an inland component and six reclaimed islands.

"We're currently reclaiming land at a rate fast enough to fill London's Wembley Stadium each month," said Matt Joyce, managing director, Dubai Waterfront.

Other components of the project include Madinat Al Arab, Canal District and Waterfront City. Construction is underway in districts B and C of Madinat Al Arab, including Omran, an accommodation complex that will eventually house 60,000 labourers.

The Palm Cove Canal and three 160m canal bridges are also under construction.

Nasa Multiplex was also awarded a contract in February to build the six-tower Palm Tower Canals.

Samsung, Dutco Balfour Beatty and Emirates Road Contracting are among the other contractors involved in the project.

Most of the project will be in the hands of third-party developers, while Nakheel will develop the rest.

"Any developer who buys a plot of land will have to abide by the Design Control Regulations (DCRs) set by Nakheel," added Joyce. "So we're acting as a regulator as well as a masterdeveloper."

The entire development will accommodate a population of 1.5 million when complete.

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