Dubai Waterfront launched
Under the direction of Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence, Nakheel debuted its investor launch of Dubai Waterfront, an 81 million square metre beachfront mixed use destination which encompasses over 250 best of breed master planned communities and offerings.
Destined to become an international landmark, Dubai Waterfront is the world's largest waterfront offering, and is located 35 km south west of Dubai, bordering Abu Dhabi, on the last remaining coastal waterfront of the Emirate. Considered the New Gateway of Dubai, Dubai Waterfront has been crafted and developed by an international consortium of the world's leading architects, planners and urban developers assembled by Nakheel in 2004.
Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence said, "Dubai Waterfront centres around water, something we consider perpetually valuable and precious. It is an unprecedented advancement and a world-class addition to Dubai, one which will create long term growth and investment for the UAE and the wider region. We're inviting developers to benefit by being partners with Nakheel."
Dubai Waterfront forms the first phase of a larger effort, the Arabian Canal, a 75 km development envisioned by Sheikh Mohammed. The first phase of Dubai Waterfront will focus on Madinat Al Arab, a thriving urban downtown metropolis, including Al Burj, one of the world's tallest buildings.
Nakheel has created Dubai Waterfront Company, and will be the majority owner, offering 49 per cent to select investors. Sultan Ahmed Bin Sulayem, Executive Chairman, Nakheel, said, "With Dubai Waterfront, Nakheel has raised the bar to a never before seen level. We are proud to help realise Sheikh Mohammed's vision for the Arabian Canal, with this first phase, Dubai Waterfront. It is destined to become a landmark for Dubai, one which will attract tourists, residents, and businesses, and creates a destination like nowhere else."
Nakheel is recognised as one of the region's premier developers, focused on Waterfront, Themed Communities, Golf and Retail. Famed for innovative and iconic properties, Nakheel is known for its signature offerings, The Palm and The World.