Continuing an ambition to be the playground of the world’s wealthiest, The Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, has revealed plans to build the Middle East’s largest marina.
The project aims to lure rich yacht owners from the Gulf states, who own one third of the world’s largest superyachts.
Located on King Salman bin Abdulaziz Al Saud Street, in the area between Jumeirah Beach Residence and Palm Jumeirah, the project will be developed by Dubai holding company Meraas.
The luxury waterfront scheme, called "Dubai Harbour", is spread over 20 million sq. feet, and will include a 1400-berth marina as well as a cruise ship terminal, shopping mall, events arena, residential buildings, hotels, offices, shops and restaurants.
An illuminated tower called "Dubai Lighthouse" will mark a promontory of the development.
The masterplan integrates Skydive Dubai, Dubai International Marine Club (DIMC) and Logo Island into a single community. To be developed in phases, Dubai Harbour will be completed in four years once ground has been broken, the Dubai government media office said.
"We are happy that this new project, which represents a unique and innovative new addition to the region’s tourism landscape, opens up a range of new opportunities to investors," Sheikh Mohammed said on 2 January in a statement.
The statement said Dubai Harbour would enhance the city’s profile as a "magnet for wealth and investment".
It will expand Dubai’s yacht capacity by 50% from the current 3,000 berths, and is aimed at owners of large yachts, since yachts up to 85 metres in length can dock at its premises.
Image: The luxury waterfront scheme, called "Dubai Harbour", is spread over 20 million sq. feet, and will include a 1400-berth marina (Dubai Government)