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Sun 11 Sep 2016 05:15 PM

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$272m Marasi Business Bay project on track for 2023 completion

Dubai Properties reveals more details about waterside development; phase 1 set for Q4 2017 delivery

$272m Marasi Business Bay project on track for 2023 completion

Dubai Properties Group (DPG) has announced that its $272 million Marasi Business Bay development is on schedule to be completed by 2023, transforming the Business Bay promenade and marina as the city’s next waterfront landmark.

Located along the Dubai Water Canal on the extension to the Dubai Creek, the region’s first purpose-built yachting destination will become synonymous with the best of what Dubai has to offer as a global business and tourism hub ahead of the World Expo 2020, the developer said in a statement. 

Marasi Business Bay will be divided in to three themed main areas - The Marina, The Park and The Pier. Phase 1, comprising The Marina and The Park, is on schedule for delivery in Q4 2017, Dubai Properties added.

Abdulla M. Lahej, CEO, DPG said: “The Marasi Business Bay destination will send residents and visitors to Dubai on a journey of discovery into the new world of waterfront living never seen before in the UAE.

"In line with the country’s vision for 2021 and beyond, this new floating lifestyle destination will play a key role in supporting the government to realise its vision of enhancing Dubai’s iconic status as the fourth most visited city in the world by reinvigorating the historic Dubai Creek and boosting tourism in the Business Bay area.”

As part of phase 1, The Marina development brings to the UAE the first water-homes, which are being built on water with pedestrian and boat access. The two to three bedroom residences, each with a private garden, pool and berthing space, are under construction and have attracted high-levels of local and international interest, the statement said.

Marasi Business Bay has new and exciting public spaces at its heart, including the longest waterside promenade in Dubai, spanning almost 12km.

The Marina will feature five palm tree-lined marinas with 1,250 berths, alongside more than 100 floating retail and F&B outlets, an assortment of onshore boutique shopping, leisure and entertainment facilities as well as a range of local and international businesses.

The Park, also part of phase 1, is comprised of a sprawling 50,000 square metre area, including 16 parks with water features, play areas, and interactive furniture, as well as an events space with an amphitheatre, outdoor cinema and weekly markets.

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