Emaar, P&O Marinas unveil $6.8bn plan to transform Dubai’s Mina Rashid area
May 04, 2019 – Emaar Properties and P&O Marinas, a division of Dubai ports operator DP World, have unveiled plans for AED25bn ($6.8bn) redevelopment of the area around the Mina Rashid area in Dubai.
The partners will build the world’s new sailing destination by the historic Dubai Creek near Bur Dubai/Deira.
The project, dubbed Mina Rashid, will comprise Dubai Mall by the Sea, a waterfront retail, dining and leisure destination; a floating yacht club; Dubai’s longest swimming pool among others.
Emaar Development Emaar and chairman Mohamed Alabbar said: “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.”
Additionally, the new destination will feature midrise waterfront homes with promenades, Venetian piazza, retail and restaurants by the sea, hotels, interconnected parks a 500m canal, art galleries, theatre and museum.
Emaar said that the Mina Rashid project will feature 430 wet berths to accommodate large yachts and attract cruise tourism, hotels, a private beach club, a pedestrian harbour bridge and a beach area of 12,600m².
P&O Marinas has made the available the land to Emaar for the project and will continue to develop world-class marinas and berthing facilities.
DP World group chairman and CEO Sultan Ahmed Bin Sulayem said: “P&O Marinas is keen to support Dubai’s economic growth and to realise the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, 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.”
The Mina Rashid project will also become home to Queen Elizabeth 2 (QE2) ocean liner, now a 13-deck hotel, dining, entertainment and events destination.
The development is also expected to complement the Hamdan bin Mohammed Cruise Terminal, which is claimed to be one of the most advanced cruise terminals in the world and the Middle East’s leading cruise destination.