Emaar to develop $6.8bn Mina Rashid project with P&O Marinas
Project will celebrate Dubai’s maritime heritage and create a ‘future-ready’ lifestyle address, developer says
Emaar, the UAE-based master developer, has announced that is building a new sailing destination by the historic Dubai Creek near Bur Dubai/Deira, after P&O Marinas, a subsidiary of DP World – UAE Region, made the land available to it.
The developer has launched Mina Rashid, a $6.8 billion investment that will ‘celebrate Dubai’s maritime heritage while creating a future-ready lifestyle address’. The project will have several distinctive features, such as the ‘Dubai Mall by the Sea’ – a waterfront retail, dining and leisure destination; a floating yacht club; a 12,600sqm sandy beach and Dubai’s longest swimming pool, amongst others.
The development will also have over 430 wet berths, several of which can accommodate the largest yachts in the world and will also catalyse cruise tourism. The centrepiece of Mina Rashid will be the QE2, the world’s most celebrated ocean liner, which is now a 13‑deck hotel, dining, entertainment and events destination – docked permanently, and offering visitors an interactive exhibition of its heritage from the 1960s, sailing over 5.6 million miles and carrying over 2.5 million passengers.
Mina Rashid will feature a choice of mid-rise waterfront residences with promenades and a Venetian piazza with retail and F&B outlets overlooking the Arabian Gulf. In addition are signature hotels, a private beach club, interconnected parks, a 500m-long palm tree-fringed canal, art galleries, a theatre, museum and more.
“When Mina Rashid, the first modern port of Dubai, opened in 1972 – realising the vision of the late Sheikh Rashid bin Saeed Al Maktoum, the Father of Dubai – it ushered in a new era of prosperity for the city, transforming it into an important port of call between the East and the West.
“Mina Rashid will also be a modern link to the heritage of the city with a direct pedestrian bridge connecting the House of Sheikh Saeed Al Maktoum, thereby honouring the legacy of the Al Maktoum family, to a museum and theatre,” Emaar said in a statement.
The new facilities will also complement the Hamdan bin Mohammed Cruise Terminal, one of the most advanced cruise terminals in the world and the Middle East’s leading cruise destination.
The facility, which was built and currently operated by P&O Marinas, has received over 2.3 million visitors since its inauguration in 2014, and has seen per-year visitor numbers rise by 172% between 2014 and 2018. The terminal reached a major milestone last year when it successfully berthed five international cruise liners carrying a total of 25,000 passengers in a single day.
The Hamdan bin Mohammed Cruise Terminal has also gained significant traction among luxury yacht owners who see Dubai as a preferable destination. The terminal boasts numerous state-of-the-art facilities for yacht owners, including 24-hour assistance, chandlery, dry storage, customs clearance directly from berth, and free Wi-Fi coverage across the terminal.
“For over two decades, we have worked tirelessly to contribute to the growth and evolution of Dubai as a global city that befits the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. Now, with Mina Rashid, we are creating a future-ready city that honours the legacy of the Al Maktoum family and salutes the farsighted vision of Dubai’s rulers who have consistently built – not for now and then, but for the future and beyond.
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,” said Mohamed Alabbar, chairman of Emaar Properties
Emaar said that it is now offering investors a chance to be a part of the Mina Rashid development through the launch of Sirdhana, a collection of 1,2 and 3-bedroom waterfront apartments and townhouses.
Named after the British Royal Mail Ship, which was the first commercial liner to dock at Mina Rashid, the residences are located by the main entrance of the promenade and adjacent to the canal pool.
Sirdhana will be in walking distance to QE2, a community park and The Dubai Mall by the Sea, the developer added.
“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,” said Sultan Ahmed Bin Sulayem, group chairman and chief executive of DP World and the Chairman of Ports, Customs and Free Zone Corporation.
“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.”
