$6.8 Billion Project to be Developed near Mina Rashid Port
Global News

$6.8 Billion Project to be Developed near Mina Rashid Port

DP World subsidiary, P&O Marinas offers Emaar land for project

TLME News Service

A new world-class sailing destination is being developed near Mina Rashid Port. P&O Marinas, a subsidiary of global trade enabler DP World - UAE Region, has made land available to Emaar for development of the same.

When Mina Rashid, the first modern port of Dubai, opened in 1972 - realising the vision of the late Sheikh Rashid bin Saeed Al Maktoum, the Father of Dubai - it ushered in a new era of prosperity for the city, transforming it into an important port of call between the East and the West.

Now, Emaar, the developer of global icons that add to the pride of the nation, is building this new global sailing destination by the historic Dubai Creek near Bur Dubai/Deira, the very heart of the Dubai’s glorious coastal heritage, in the very location where the city made its tryst with the future.

Emaar has announced the launch of ‘Mina Rashid,’ a $6.8 billion investment to celebrate Dubai’s maritime heritage while creating a future-ready lifestyle address.

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Only 15 minutes from the Dubai International Airport and 20 minutes from Downtown Dubai and Dubai Creek Harbour, ‘Mina Rashid’ will have several exceptional features, including a few firsts in the city such as ‘The Dubai Mall by the Sea’.

The new mall will consist of an elite waterfront retail, dining and leisure destination; a floating yacht club; a pristine sandy beach of over 12,600 square metres – the size of about two-and-a-half football fields; and Dubai’s longest swimming pool, among others.

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Adding a new address to the international yachting community, ‘Mina Rashid’ will have over 430 wet berths, several of which can accommodate the largest yachts in the world and will also catalyse cruise tourism.

Taking place of pride at ‘Mina Rashid’ is the QE2, the world’s most celebrated ocean liner – now a 13‑deck hotel, dining, entertainment and events destination – docked permanently, and offering visitors an interactive exhibition of its glorious heritage from the 1960s, sailing over 5.6 million miles and carrying over 2.5 million passengers.

With a choice of midrise waterfront residences, ‘Mina Rashid’ will have vibrant promenades and a Venetian piazza with retail and F&B overlooking the sea.

Mina Rashid will also be a modern link to the heritage of the city with a direct pedestrian bridge connecting the House of Sheikh Saeed Al Maktoum, thereby honouring the legacy of the Al Maktoum family, to a museum and theatre.

The new facilities will also complement the Hamdan bin Mohammed Cruise Terminal, one of the most advanced cruise terminals in the world and the Middle East’s leading cruise destination.

Mohamed Alabbar, Chairman of Emaar Properties and Emaar Development, said: “For over two decades, we have worked tirelessly to contribute to the growth and evolution of Dubai as a global city that befits the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.

“The evolution of the city today as a knowledge-based economy, offering significant opportunities across all business sectors, drives demand for world-class developments that will further enhance economic growth.”

Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer of DP World and Chairman of Ports, Customs & Free Zone Corporation, said: “P&O Marinas is keen to support Dubai’s economic growth and to realise the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, to diversify the economy and support the development of a range of economic sectors including trade and tourism.

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“The new development of Mina Rashid will strengthen Dubai’s position as a global city and the premier cruise hub in the Middle East. Our venture with Emaar will contribute to the city’s cruise tourism and create another strong economic catalyst.”

Emaar now offers the first opportunity for investors to become part of ‘Mina Rashid’ with the launch of Sirdhana, a limited collection of 1, 2 and 3-bedroom waterfront apartments and townhouses.

It is named in honour of the British Royal Mail Ship, the first commercial vehicle to dock at ‘Mina Rashid.’

Located right by the main entrance of the promenade and adjacent to the canal pool, Sirdhana will be in walking distance to QE2, a community park and ‘The Dubai Mall by the Sea.’

Contemporary apartments with glittering glass facades, floor-to-ceiling windows, and generous balconies, Sirdhana offers prime views of the waterfront and Downtown Dubai.

Amenities include a recreation room, community podium with a gym, children’s play area, recreational courts, and more.

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Transport and Logistics ME