Tuesday, April 10, 2007

Dubai Waterfront being released to investors

The first section of Dubai Waterfront – the world’s largest waterfront development – is now being released to investors. Master developer Nakheel began the four-month handing over process of the Madinat Al Arab yesterday.

The first phase, which consists of more than 200 plots, was sold for Dh13 billion in July 2005. Nakheel has sold 70 per cent of the plots in the first phase, with the remaining 30 per cent retained for its own developments.

Investors will this week attend a three-day workshop where they will be briefed on the site’s planning and building approval processes. A process map, explaining the different stages of construction, is also provided.

The workshop sessions will be followed by one-on-one meetings between each investor and a number of specialist consultants such as master planners, Dubai Electricity and Water Authority officials, and environmental regulation advisers.

Ensure Dubai Waterfront is a very environmentally sustainable development, with, a clear recover recycle reuse strategy and consideration of environmental concerns and technologies at every stage.

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