Emaar launches US$ 6.8 bn ‘Mina Rashid’ project in Dubai Creek

Posted on 3rd May 2019

Emaar launches US$ 6.8 bn ‘Mina Rashid’ project in Dubai Creek
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According to *Tradearabia news report, leading UAE developer Emaar has joined hands with P&O Marinas, a unit of Dubai-based global marine terminal operator DP World, to launch ‘Mina Rashid’, a Dh25-billion ($6.8 billion) Riviera-style coastal destination by the historic Dubai Creek in the heart of the city.

The new sailing destination near Bur Dubai/Deira will celebrate Dubai’s maritime heritage while creating a future-ready lifestyle address, said a statement from Emaar.

With views of the Arabian Gulf and the Downtown Dubai skyline, the project gives a new definition of Riviera-style living.

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, stated the developer.

P&O Marinas made the land available to Emaar and will continue to develop world-class marinas and berthing facilities, it added.

Thanks to its strategic location, only 15 minutes from the Dubai International Airport and 20 minutes from Downtown Dubai and Dubai Creek Harbour, ‘Mina Rashid’ will be a star attraction for those looking to discover a new definition of Riviera-style living.

Mina Rashid, which boasts views of the Arabian Gulf and the Downtown Dubai skyline, has several exceptional features, including a few firsts in the city such as ‘The Dubai Mall by the Sea’ – an elite waterfront retail, dining and leisure destination; a floating yacht club; a pristine sandy beach of over 12,600 sq m – the size of about two-and-a-half football fields; and Dubai’s longest swimming pool.

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 the mega development 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, said the statement from Emaar.

With a choice of midrise waterfront residences, ‘Mina Rashid’ will have vibrant promenades and a Venetian piazza with retail and food and beverage (F&B) overlooking the sea. In addition are signature hotels, a private beach club, interconnected parks, a 500-m-long palm tree-fringed canal, art galleries, a theatre, museum and more.

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, it stated.

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.

The facility, which was built and currently operated by P&O Marinas, has received over 2.3 million visitors since its inauguration in 2014, and has seen per-year visitor numbers rise by 172 per cent between 2014 and 2018.

The terminal reached a major milestone last year when it successfully berthed five international cruise liners carrying a total of 25,000 passengers in a single day.

The Hamdan bin Mohammed Cruise Terminal has also gained significant traction among luxury yacht owners who see Dubai as a preferable destination. The terminal boasts numerous state-of-the-art facilities for yacht owners, including 24-hour assistance, chandlery, dry storage, customs clearance directly from berth, and free Wi-Fi coverage across the terminal.

Emaar Properties and Emaar Development chairman Mohammed Alabbar 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 HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai."

"Now, with Mina Rashid, we are creating a future-ready city that honours the legacy of the Al Maktoum family and salutes the farsighted vision of Dubai’s rulers who have consistently built – not for now and then, but for the future and beyond. 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," stated Alabbar.

Group chairman and CEO of DP World and chairman of Ports, Customs & Free Zone Corporation Sultan Ahmed Bin Sulayem said: "P&O Marinas is keen to support Dubai’s economic growth and to realise the vision of Sheikh Mohammed to diversify the economy and support the development of a range of economic sectors including trade and tourism."

"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," he stated.

Emaar now offers the first opportunity for investors to become part of ‘Mina Rashid’ with the launch of Sirdhana, a limited collection of one-, two- and three-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.

*News source: http://tradearabia.com/news/CONS_354220.html

Related project: The Mina Rashid Development 

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