First phase of land sales of Mina Rashid begin

Nakheel, the real estate arm of Dubai World, yesterday said it began the first phase of land sales on Mina Rashid, a redevelopment programme of the old Port Rashid by Nakheel.

More than 20 plots have been sold to local, regional and international developers. The plots will be made ready for hand over to buyers by end of this year.

Plans will involve the expansion of the existing Port Rashid land area through land reclamation.

The mixed-use urban waterfront will be set in Mina Rashid's strategic waterside location, in proximity to Bur Dubai. When completed, Mina Rashid will house an estimated residential population of 200,000 people.

"Mina Rashid will be a project sensitive to the culture and heritage of Dubai. It will be a project that will be carefully planned," said Abdulrahman Kalantar, Managing Director of Design and Planning for Nakheel.

"As one of Dubai's leading addresses, it will host a range of community facilities including schools, mosques, museums, parks, hospital and medical centre. It will also become home to a new luxury cruise terminal, which will be a key contributor to Dubai's tourism offering. And all of this will be achieved by respecting the past and looking towards the needs of Dubai's future generations ensuring that the legacy lives on," he added.

The Mina Rashid development will be about 760 hectares in size and around 600 hectares will be reclaimed. The project will provide a balance of residential, office and commercial development within an urban waterfront environment with a 17.5 kilometres of waterfront promenade.

In January 2008, Nakheel announced the redevelopment of Port Rashid.