New canal district will float your houseboat
A new Dhs1 billion development in Business Bay has been unveiled featuring canalside living and floating homes. Dubai Holding, through its real estate arm Dubai Properties Group, yesterday unveiled the project, which features a promenade that will run for 12km. It will also feature five marinas, restaurants and waterfront homes. The firm said the promenade would be completed by September, while the total project would be built by 2023. Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding, said: “The new project will strengthen the historic relationship between Dubai and its Creek through the addition of a new dimension to the residential, tourism and leisure offerings along the Dubai Creek.” He said a substantial part of the development is set for completion by 2020. “The total investment cost exceeds Dhs1 billion, and will be self-financed in partnership with local financial institutions,”he added.