Nakheel - Masterplanners of The Universe: Stunning island reclamation project unveiled, Historic Port Rashid to be redeveloped
Dubai, 20 January 2008: Nakheel, one of the worlds largest privately-held property developers, has announced two major new projects at their initial concept stages - The Universe, a reclaimed island development which draws its inspiration from the wonders of the solar system, with islands in the shape of the sun, the moon and the planets; and the redevelopment of Port Rashid, with Nakheel announcing its plans to preserve and expand the area which has played a central role in Dubais development.
The Universe, which was previewed at a VIP event to announce Nakheels new Blue Communities initiative, will take shape off Dubais coastline close to The Palm Jumeirah, inshore from The World. The Universe is a further indication of Nakheels pioneering approach to waterfront developments and will provide a stunning new addition to Nakheels groundbreaking and iconic coastal developments The Palm trilogy, The World and Waterfront. The development will create new luxury living space, commercial opportunities and additional coastline playing a role in the continued economic growth and success of Dubai as a global business and tourism destination.
The Universe was being launched at its initial concept stage and will evolve following engineering, feasibility and environmental studies that are already underway. Once these studies have been conducted, a full masterplan will be created. The Universe will be a flagship development of Nakheels recently launched sustainability initiative Blue Communities, reflecting a firm commitment to creating a truly sustainable community. Blue Communities seeks to fund research and development activity, and promote active engagement with international experts on the issues of sustainable development, construction, management and governance of coastal communities around the world.
Sultan Ahmed Bin Sulayem, Executive Chairman, Nakheel, said:
With the completion of phase one of The World and the successful progress of the Palm Trilogy and Waterfront, we are delighted to announce the concept of The Universe to reveal Sheikh Mohammeds vision for the new era of waterfront development. Waterfront living is an aspiration for many; a growing number of people from the region and from around the world would prefer to live, work, and entertain in coastal communities and that is why coastal communities are among the fastest growing communities around the globe.
Dubai has always been a city that looks forward and the planned development of The Universe will satisfy the future demand for further waterfront investment opportunities and development in Dubai. The real estate market is driven by the dynamics of demand and supply - The Universe will be a phased project that will evolve to meet future demand.
The second concept project is the redevelopment of Port Rashid. Given the change in the market, port dynamics, and the rise of Jebel Ali Port, port operations are moving from Port Rashid to Jebel Ali Port. Nakheel is committed to preserving and expanding this site of historic importance with a new urban waterfront that will create real estate, generate jobs, attract tourism and help drive economic growth for Dubai and the UAE.
Redevelopment plans are underway, which involve the expansion of the existing Port Rashid land area through land reclamation. The proposed development is a vibrant mixed use urban waterfront set in Port Rashids strategic waterside location and proximity adjacent to Bur Dubai. The estimated residential population will be 200,000.
Port Rashid will continue to operate as the main port in Dubai for tourist and cruise vessels and this will be integral to the redevelopment. Most port operations are being transferred to Jebel Ali as a result of increased customer demand for its state-of the art facilities.
Sultan Ahmed Bin Sulayem added:
Nakheel takes great pride in Dubais heritage as well as in building its future. The redevelopment of Port Rashid will be sympathetic and pay homage to the maritime history that helped shape the success of the emirate.
The development will include a maritime museum, and we will ensure that the importance of the site and the people who have worked and lived there since its creation are preserved for future generations.
Cant wait so see the construction more than anything, the others are going to think im weird.
