Nakheel has announced on Wednesday the creation of Dubai Promenade, a sophisticated waterfront residential and commercial project along the emirate’s shoreline that will feature a five star wheel-shaped hotel.
The virtual peninsula is located between Dubai Marina and the seafront, adjacent to the Dubai International Marine Club. It will offer views of the Arabian Gulf, The Palm Jumeirah, and the coast towards Jebel Ali Port.
“Reclamation at Dubai Promenade is being undertaken. It is due to be completed in the first quarter of 2008 with a total of some 750,000 tons of rock being placed and 650,000 m3 of sand reclaimed.
Construction will begin in mid-2008 and on completion the development will accommodate approximately 10,000 residents in more than 2,000 residential units, will offer over 25,000 m2 of retail space and over 17,000 m2 of office space,” Nakheel said in a statement.
The Dubai-based real estate developer added that their new waterfront project is expected to enhance the emirate’s international tourism profile through its centerpiece wheel-shaped hotel.
“The hotel’s unprecedented shape and structure will be spectacular and no other skyline in the world offers anything like it,” said Ali Bin Damithan, Senior General Manager of Dubai Promenade.
Dubai, which attracts more tourists each year than any other Arab destination outside Egypt, plans to achieve economic growth of 11 per cent per year to 2015, partly by attracting tourists. The emirate also hopes to draw 15 million tourists a year by 2015, up from about 6.4 million in 2006.
Neighbouring Abu Dhabi is also developing a $40 billion (Dh146 billion) island off its coast. (with inputs from Reuters)
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