Ithra Dubai launches Plot 3 of Deira Enrichment Project
Sherina Plaza has entered closeout and handover phase, developer says
Ithra Dubai, the Dubai-based real estate developer wholly owned by the Investment Corporation of Dubai, has announced the launch of Plot 3 of Phase 1 of the Deira Enrichment Project (DEP).
The developer said that Plot 3 – also known as Sherina Plaza – has entered the closeout and handover phase, leading the way before Plots 1, 2, 11 and 12, which are soon to be completed within Phase 1 of DEP.
Plot 3 is the first installment of DEP to be launched within the massive mixed-use development, which is meant to rejuvenate and revitalize one of Dubai’s oldest communities and its commercial heart.
It features 350 residential 1,2- and 3-bedroom units, ranging from 861 to 2,045 square feet, a four-star hotel with 290 rooms operated by Wyndham Hotels and Resorts, 45 restaurants and retail units, and 721,182 square feet of office space.
“We are happy to announce the launch of Plot 3 of the Deira Enrichment Project. We are driven by one objective and that is to enrich cities and add value to their citizens, whether by elevating lifestyles or offering integrated solutions that balance work, living and leisure,” said Issam Galadari, director and CEO of Ithra Dubai, during a media tour of Plot 3.
“We are committed to delivering the project in a timely manner without compromising on the highest in quality standards. Inspired by the Dubai vision, DEP will reaffirm Deira’s historic standing as Dubai’s original trading hub and will play a vital role in the future development of the city,” he added.
Ithra Dubai will next be launching Plots 1, 2, 11 and 13, equally consisting of mixed-use facilities and lush green areas and ample parking spaces, a statement from the developer continued. Plots 11 and 13 are dedicated to the Gold Souk Extension and will be designed to suit the unique needs of gold traders and precious stone merchants.
“DEP broke ground in 2017 and is today launching the first of its mixed-used plots. From deference to heritage with a modern application in design and architecture, to incorporated green spaces and a concern for sustainability, DEP accounts for every aspect of Ithra Dubai’s vision,” Raad Jarrah, chief development officer of Ithra Dubai added.
“The development will ease navigation in and around Deira thanks to multi-storey car parks and an integrated transportation hub under construction in Plot 4. All of Dubai Transport Authority services such as a metro, buses and taxis will be available, facilitating access to public transportation and minimising dependence on private cars.”
“DEP was at all times meant to be the place where people want to spend their time, whether to live, work or play. Plot 3 for instance consists of two residential buildings, a hotel and an office building with panoramic views of the waterfront, as well as small parks with nearby children play areas.
Residents will enjoy a number of facilities such as rooftop pools, gyms, a plaza, prayer rooms and public baths. Sherina Plaza is ready to receive its new residents and welcome future tenants,” Jarrah said.
Next to Phase 1, 2 and 3 of the projects, DEP features the Waterfront Market and the Gold Souk Extension, which is scheduled to open for the public at the beginning of next year.
Phase 1 includes 50 mixed-use buildings, 2,200 residential units, 416 commercial units, 843 retail units, restaurants and cafes, as well as eight hotels with more than 1,450 rooms and serviced apartments, multiple leisure facilities, a park overlooking the waterfront, green landscapes and multi-storey parking space.
