Plans for a project worth more than $272m (AED1bn) have been unveiled by the Dubai Properties Group.
The Marasi Business Bay development, set to be built by the Dubai Water Canel, was announced on Tuesday by Dubai Holding’s real estate arm.
The master-planned waterside development will include a 12km promenade, the “UAE’s first-ever water homes”, retail areas, floating restaurants, leisure facilities and five palm tree-lined marinas, it was announced.
Residential units at Marasi Business Bay will be built on water with boat access, Dubai Holding said in a statement.
Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding said: “The new project will strengthen the historic relationship between Dubai and its creek through the addition a new dimension to the residential, tourism and leisure offerings along the Dubai Creek.
“Located along the Dubai Water Canal, this waterfront destination embraces the longest water-side promenades, comprising a space rich with green spaces. Our goal is to build a way of life.”
