Dubai Holding launches $1.7bn island megaproject
Dubai Holding is launching Dubai’s latest mega-project with the Marsa Al Arab tourist development
Dubai Holding is launching Dubai’s latest mega-project with the Marsa Al Arab tourist development, according to reports on Sunday.
The $1.7bn project will be developed across two islands near Burj Al Arab in Jumeirah by 2020, and will include a private marina, a yacht club, and F&B options, according to Arabian Business.
Spread across 371,612sqm of space, one island will be dedicated to entertainment and family tourism while the other will feature a luxury resort. Both will add 2.2 kilometres of beach frontage, as well as three new hotels and a number of new tourist attractions.
As part of the project, the Wild Wadi Waterpark will be moved from its current road-side location closer to the beach, and will more than double in size upon completion. A retail space stretching across 20,000sqm will take its place.
Jumeirah Group also plans to introduce new leisure concepts and services as well as a new family-oriented hotel.
In addition, Dubai Holding will develop ‘Marine Park’, a marine life entertainment centre and the first of its kind in the region that will feature a live theatre of a 1,000 seat capacity, attracting world-class shows to showcase various elements of marine life.
Other features include a mixed-use convention centre, a shopping centre, and 300 sea-front apartments as part of a residential component that will offer pedestrian pathways, a jogging track, large swimming pool and a cycling course.
Dubai Holding will also develop 140 luxury villas on the ‘exclusive private island’, which will include a marina for residents.
Abdulla Al Habbai, Chairman, Dubai Holding, said: “The launch of this new and ambitious project is in line with the directives of the visionary leadership to provide the finest and rewarding tourist experiences for visitors to Dubai, as well as enhance Dubai’s position as a global tourist destination.
“We are proud of the vital role that Dubai Holding plays in this sector through supporting innovation and contributing to the economic diversification of Dubai.”
The project will break ground in June 2017 and is scheduled to complete within the next three years.