- Image Credit: Supplied
- ‘Bluewaters’ will also feature demarcated retail, residential, hospitality and entertainment zones.
Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday approved the 'Bluewaters' project, a unique mixed use development by Meraas Holding.
Valued at Dh6 billion, the destination will be located off the Jumeirah Beach Residence coastline and is poised to emerge as one of the largest tourist hot spots in the world.
Meraas has also unveiled plans for the Dh1 billion ‘Dubai Eye’ that will feature as a major component of the ‘Bluewaters’ Island development. The world’s largest Ferris wheel will prove a must-visit experience for visitors and residents in the UAE and articulates Dubai’s long-term vision to be a key tourism hub in the world.
‘Bluewaters’ will also feature demarcated retail, residential, hospitality and entertainment zones. Market studies forecast that the project will draw more than three million visitors annually.
‘Bluewaters’ construction is set to commence in April, 2013. Construction for ‘Dubai Eye’ is scheduled for the second quarter of 2013. Hyundai Contracting and Starneth Engineering have been appointed as primary contractors for the design and construction of ‘Dubai Eye’.
Abdullah Al Habbai, Chairman, Meraas Holding, said: “We have a clear mission and vision to strengthen Dubai’s global position in the tourism sector. This project will continue to build on the emirate’s reputation as leaders in the global entertainment and retail landscape. Through Meraas’s continued investment into similar mixed used developments, we aim to draw sustained investment and tourism from around the world.”
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