Dubai Municipality and Emaar join forces for mega project in Al Mamzar
Posted on 14th May 2014
Emaar Properties signed a Memorandum of Understanding (MoU) with Dubai Municipality to develop a mixed-used beachfront lifestyle development in Al Mamzar. The project, which is being planned around the 53-hectare Al Mamzar Lake, is expected to include waterfront residences, serviced residences, retail amenities, fountains and water features, and water-themed leisure attractions. It will be built on land owned by the Municipality.
Emaar will conduct feasibility studies and submit a detailed project report outlining the development potential to Dubai Municipality. Following approval of the masterplan, the two parties will finalise the project management structure, Emaar said in a statement.
Hussain Nassir Lootah, director general of Dubai Municipality, said: “The proposed mixed-use project will be developed to the highest standards of sustainability. Envisaged as a modern lifestyle hub, the project will further drive the economy through its value-added residential, retail and leisure components.”
Ahmad Al Matrooshi, managing director of Emaar Properties added: “Dubai Municipality’s initiative to explore the development potential of Al Mamzar will further add to the city’s economy by creating another engine of growth in the Deira region. For the potential new project, we will focus on sustainable development initiatives. It will be a great value addition to Deira, and will also create new jobs and supporting ancillary industries.”Back to all Construction News
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