Real estate master developer and asset manager, Dubai Properties (DP) has announced that the AED 1 billion Marasi Business Bay Promenade is scheduled to open in November 2016.
The longest promenade in the UAE, spanning 12 kilometres, Marasi Business Bay Promenade will feature entertainment, leisure and retail options.
It forms part of Marasi Business Bay, the region’s first ever purpose-built yachting destination located along the Dubai Water Canal on the extension to the Dubai Creek, and expected to completed in 2023.
Divided into three areas – The Marina, The Park and The Pier – Phase One of the project will see delivery of The Park and The Marina by Q4 2017.
The Marina will offer 1250 berths, alongside more than 100 floating retail and F&B outlets, onshore boutique shopping, leisure and entertainment facilities and local and international businesses.
The 50,000m2 park area will include 16 parks with water features, play areas, and interactive furniture, as well as an events space with an amphitheater, outdoor cinema and weekly markets.
Also part of Phase 1, the UAE’s first-ever water-homes, which are being built on water with pedestrian and boat access, are under construction.
Abdulla M. Lahej, group CEO of Dubai Properties (DP) said: “The Business Bay landscape will be redefined with the opening of the Marasi Business Bay Promenade and the Dubai Water Canal. Visitors and residents in this area, which has been known more for its commercial activities, will now have a unique venue in the heart of the city where they can enjoy a new active, urban lifestyle at the city’s next iconic fitness and leisure destination.
“The AED 1 billion Marasi Business Bay mixed-use destination, as it weaves its way into the fabric of the city, will become synonymous with what Dubai has to offer ahead of the World Expo 2020 and in line with the Dubai Plan 2021 to create a smart and sustainable city with happy people.”
More than 10 km of the 12-kilomentre promenade and surrounding infrastructure, including paving of open areas have been completed to date.
The launch will coincide with the opening of Dubai Water Canal, being developed by Roads & Transport Authority (RTA).