Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum has officially inaugurated Dubai’s most eagerly awaited project of 2016, the Dubai Water Canal. This means that people can now enjoy some cool walks along the canal and those Abra operators on Dubai Creek can also set longer routes for tourists.
The completion of Dubai Water Canal has enhanced the value of real estate land surrounding it. That’s probably why some developers were prudent enough to launch project in these areas before the completion of the canal.
Retailers and owners of shops offering souvenirs also have considerable interest in this project as its plans included development of retail units along a 12 kilometre promenade named Marasi Business Bay.
Marasi is being developed by the real estate arm of Dubai Holding, Dubai Properties Group and holds the promise of featuring mixed use amenities upon its completion. Dubai Water Canal ranges from 80 metres to 120 metres in width and cost AED 3.7 billion to biuld.
The prospects of land around Dubai Water becoming a sought-after waterfront address in Dubai prompted several real estate developers launch projects in the area over the past months.
In February this year, Damac Properties launched Aykon City at the Safa Park intersection, close to the Dubai Water Canal. The project featured six towers including an 80-storey Aykon Hotel and 63-storey Damac Maison Serviced Hotel Residences.
Recently, Sobha Group launched Phase 2 of its Hartland Greens project next to Dubai Water Canal. The project offered residential units ranging from studio to 3-bedroom apartments on flexible payment plans. Witnessing the immense demand, the developer also got a bit creative and launched Vaastu-inspired homes at Sobha Hartland. The project featured resort-style luxury residential units comprising four-, five-, and six-bedroom villas, townhouses and apartments ranging from studios 3-bedroom luxury offerings.
These, along with many other projects are currently under development along the water canal. If you find yourself interested in buying a residential or commercial unit here, just visit Bayut.com and realise your dreams.