Emaar and P&O Marinas unveil $6.8 billion real estate project
The redevelopment, set to include a new mall, hotels, a yacht club and private beach spanning 12,600 square metres, will be built upon an area that is currently being used to receive cruise liners.
Further elements, according to a statement, will include promenades, parks, a 500-metre-long canal, art galleries, a theatre and a museum.
“Our venture with Emaar will contribute to the city’s cruise tourism and create another strong economic catalyst,” said Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, and Chairman of the Ports, Customs & Free Zone Corporation.
Emaar Properties and P&O Marines, a division of DP World, have announced plans to undertake a $6.8 billion redevelopment in the area around Dubai’s Mina Rashid Port.