Waterfront developments are slowly emerging across the emirate of Dubai, and they’re making way for new experiences of the city. From Jumeirah Beach Residences to Dubai’s old Deira neighborhood, each development has a new attraction not yet offered to the city’s residents and tourists.
According to Aqil Kazim, chief commercial officer at Nakheel, a major development firm based in Dubai, the city’s coastline was just 70 kilometers long around 20 years ago, but with long-established waterfront developments like Palm Jumeirah, it’s expanded to include more than 300 kilometers, "paving the way for the development of seafront homes, resorts and leisure attractions that have become the envy of people across the world."
"Waterfront living in Dubai remains exclusive, yet it is growing in popularity as it offers better value for money—and better return on investment—than in other key parts of the world," he said. "Also, new attractions and facilities, like the West Beach and Palm Promenade projects on Palm Jumeirah, are being added to existing waterfront communities, enhancing their popularity in the process."
With the World Expo 2020 to be held in Dubai, the emirate is bustling forward to complete many of its planned projects in the next three years. Reports have predicted that about 23,000 new homes per year will be needed in the lead-up, with developers and consultants now pushing for mid-market expansion, rather than a continued focus on five-star and above units. And in preventing a supply glut, many are turning toward the serviced apartments—or fully furnished apartments that can rented out to travelers or residents by the owners—as a solution.
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Regardless, with the predicted increase of tourism (25 to 30 million visitors are expected in 2020), Dubai is creating new luxury developments—each one complete with retail, hospitality and leisure entertainment.
Upcoming developments include Bluewaters, which will be home to the first Ferris Wheel in Dubai, and the largest in the world; and Marasi in Business Bay, which will provide floating restaurants and the Middle East’s first purpose-built yachting hub. Deira Islands, from Nakheel, will be a "waterfront city," providing further investment opportunities, Mr. Kazim said.
And with each development promising to be a new landmark of Dubai by 2020, below are some upcoming luxury developments that will not only transform the city’s coastline, but together, will provide new dimensions to the Dubai brand name.
Bluewaters, Jumeirah Beach Residences
The new waterfront development just off the coast of Dubai’s Jumeirah Beach Residences will feature residential units, the Ain Dubai observation wheel and leisure outlets. Developed by Meraas, the construction is nearly 75% complete, with its handover to clients and owners slated for the first quarter of 2018.
In addition to Ain Dubai, which will be the tallest and largest observation wheel in the world and predicted to be a tourist hot spot when it opens in 2018, Bluewaters’s infrastructure includes 10 luxury apartment buildings and 17 townhouses, over 200 retail and dining outlets, hotels and a plaza. The mid-rise towers will be home to 698 one-, two-, three- and four-bedroom, glass-fronted apartments.-Pricing information for the apartments hasn’t been released yet.
Its apartments, penthouses and townhouses will offer community-driven amenities, including private landscaped gardens, four swimming pools, a children’s pool, splash pad, play area and a dedicated fitness area complete with two basketball courts and two gyms.
"The idea behind Bluewaters is to create a family-oriented neighborhood, where homebuyers can put down roots and feel a deep connection to the place they call home," said Brian Schofield, vice president of projects at Meraas. "That’s why we’re committed to ensuring work on each of the island’s features continues moving forward simultaneously."
At the moment, five of Bluewaters’s major projects are currently under construction: Ain Dubai as well as the mid-rise towers and townhouses, the boulevard [the main street running through the development), as well as two hotels.
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Marasi, Business Bay
Developed by Dubai Properties, a real estate master developer and asset manager, Marasi in the emirate’s Business Bay district is an AED1 billion (US$272 million) mixed-use development that will offer the region’s first yachting location with nearly 200 water homes and restaurants.
Located along the Dubai Water Canal, Marasi will boast three main areas: The Park, The Pier and The Marina, to hold 700 berths.
"Marasi is set to change the face of Business Bay and Dubai as we know it today," said Abdullah Lahej, group CEO at Dubai Properties Group during its launch at Dubai’s International Boat Show earlier this year. "It is part of our plans of creating destinations that provide exceptional lifestyle experiences for the future… reinforcing Dubai’s position as a global tourism destination."
Along with onshore and offshore retail, leisure and entertainment facilities, Marasi’s residential units will consist of two- and three-bedroom homes starting at 1,500 square feet. Built on water and anchored to the canal basin, the homes will offer residents direct water views, private balcony pools and individual boat access.
The first phase of the project will be completed in the third quarter of 2017, with the remaining roll-out planned over the course of 2018.
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Deira Islands, Deira
A new 15.3-square-kilometer waterfront that will transform old Dubai, with 4.5 square kilometers being developed by the project’s master planner Nakheel, Deira Islands will offer new retail, entertainment and residential facilities.
Adding 40 kilometers of coastline (including 21 kilometers of beachfront property) to Dubai, the four-island project is paving the way for hundreds of new buildings, including hotels, serviced apartments, mixed-use buildings and residential waterside developments.
Meanwhile, the islands’ attractions will include Deira Mall, Deira Towers and Boulevard (where Nakheel’s residential units will be), Deira Islands Night Souk, a 30,000-seat amphitheater, and a marina for large yachts.
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Construction of the nearly 3,000 apartments and townhouses is underway, with Deira Islands’ private units to be spread across 16 towers and four clusters. Each will incorporate a swimming pool and retail, dining and recreation spaces. The residences will consist of one-, two- and three-bedroom apartments. Pricing information wasn’t available.
Sales of the project’s residential units will begin in the fourth quarter of 2019, with complete delivery by 2020.