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19 July 2024

First the World, now the Universe

By Criselda E. Diala



Dubai-based property developer Nakheel has revealed two major new projects – The Universe, a reclaimed island development inspired by the solar system; and the redevelopment of Port Rashid.

According to a statement released today by Nakheel - a day after it announced a Dh200 million coastal sustainability project - the new iconic development will take shape off Dubai’s coastline close to The Palm Jumeirah, inshore from The World.

The development will create new luxury living space, commercial opportunities and additional coastline – playing a role in the continued economic growth and success of Dubai as a global business and tourism destination.

The project is currently in its initial stage and will evolve following engineering, feasibility and environmental studies that are underway, the statement said.

“Waterfront living is an aspiration for many; a growing number of people from the region and from around the world would prefer to live, work, and entertain in coastal communities and that is why coastal communities are among the fastest growing communities around the globe,” said Sultan Ahmed Bin Sulayem, Executive Chairman of Nakheel.

He added that the project will “satisfy future demand” for waterfront investments in Dubai. When contacted by Emirates Business, a spokesperson for Nakheel refused to comment on the actual cost of The Universe’s construction because it is still in its initial stage.

The spokesperson, however, mentioned that the reclamation will begin six months from now.

The company will also be involved in the redevelopment of Port Rashid as a main port for tourist and cruise vessels – a timely undertaking as Dubai’s port operations gradually move to Jebel Ali Port.

The development will include a mixed-use urban waterfront and a maritime museum that seeks to preserve Dubai’s maritime history.