Emaar Properties to build new beachfront development in Al Mamzar
Project set to include residences, retail outlets and more
For the new venture Emaar will conduct feasibility studies and submit a detailed project report outlining the development potential to Dubai Municipality as part of a memorandum of understanding which has been signed.
The two parties stated that following the approval of the scheme, the companies will then finalise the project management structure.
The project is being planned around the 53-hectare Al Mamzar Lake, and is expected to include waterfront residences, serviced residences, retail amenities, fountains and unique water-themed leisure attractions.
"The proposed mixed-use project, which will be developed to the highest standards of sustainability, underlines the strategic vision of Dubai Municipality to drive the all-round growth of the city." stated Hussain Nassir Lootah, director general of Dubai Municipality.