The Dubai Marina was an ingenious solution to the problem of development in Dubai which is fast running out of space for sizeable developments. Many property developers have clocked on the fact that the only way to go is up skyscrapers are the way forward in Dubai’s property planning world where living and working space is at an absolute premium. The Dubai Marina, initially called ‘Westside’, is the next level up from building yet more towers; built on the seabed of the Arabian Gulf, the development will provide plenty of accommodation to meet Dubai’s growing demand. The development is owned by Emaar Properties, a veritable real estate giant within the UAE.
The Dubai Marina will undoubtedly prove essential to both business travellers and tourists which is evident by the fact that luxury hoteliers are moving in on the development in order to cash in on its surefire popularity. Although not quite as big as the world’s biggest artificial marina, the Marina Del Ray in Los Angeles, the Dubai Marina is a truly exciting prospect for investors, traders and tourists alike.
Construction began in 1998, we are now aware that the marina will provide an additional 53 million square feet of Dubai space. In a place like Dubai where space is becoming so difficult to come by, it is easy to foretell just how popular the Dubai Marina it is now.
The marina will be carved out 2 miles of Dubai’s coastline on the Arabian Gulf and will feature Venice-esque canals and multiple high-end apartments and villas which are expected to play resident to around 120,000 inhabitants.
The Dubai Marina’s first phase of development was completed in 2003 and featured 6 freehold residential tower blocks and 64 villas, all benefiting from beautiful roof-top gardens and Dubai views. Car park spacing for 200 vehicles, 6 swimming pools, restaurants, retail and sports facilities and a prayer hall were also developed in this initial phase. The first phase’s development costed in at US$200 million and covered 25 acres.
Appealing to wealthy foreigners after a slice of Dubai, the residences were allowed to be sold to foreign nationals as well as to any interested locals. The properties inevitably sold incredibly well and incredibly quickly; this is really no surprise due to the exciting nature of the development and the prospect of waterfront living, particularly to those with a large disposable income.
The location of the Dubai Marina, nestled amongst fast growing and dynamic areas in the emirate, has led to it being known as ‘The Heart of New Dubai’. Its infrastructure connections are second to none being as how the marina is situated on Interchange 5 which allows for fast connections to Jebel Ali Port, Dubai Internet City, Dubai Media City and the American University. The original idea behind the development was to create a small city within Dubai, akin to a township with its own community.
Well over 200 buildings are expected to grace the Dubai Marina including a plethora of skyscrapers. Marina Torch, Dubai Marina Towers, Princess Tower, Marina Terrace, Number One Dubai, Horizon Tower, Le Reve and Infinity Tower are just a few of the many buildings mooted to be occupying a slice of prime Dubai on the marina.
Marina 101, was completed in 2010, is one of the hottest skyscrapers joining the Dubai Marina named after the fact that it will debut 101 floors of real estate. Expected to reach a massive 412 meters in height, its 1.5 million square feet of space will provide a significant amount of living and working space to its residents. Sheffield Real Estate, the developers behind the project, are promising onlookers will be impressed even just by looking at the building as the facade will be made entirely of glass with the summit resembling a crown.
The Dubai Marina will undoubtedly be a huge hit with both locals, tourists and business men alike and is sure to enhance Dubai’s economy by the sheer amount of tourism and commerce bound to take place. Knowing how fast developments pop up in Dubai, there’s no telling how soon it will be until the Dubai Marina is overtaken by something even more exciting and valuable.