First phase of new masterplan for The Palm Deira development presented by Nakheel.

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21 Mar 2007

Nakheel, the world's largest privately owned real estate developer, has unveiled initial details of the first phase of the new masterplan for The Palm Deira, the third and last island of The Palm trilogy.

The Palm Deira will consist of two different projects: Deira Corniche and the Palm Deira island itself. The total area of the development is planned to be 4900 hectares (49 million square metres), with the total volume of sand required to reclaim the two projects being 1.14 billion cubic metres. The first phase of the new masterplan is Deira Extension, which is part of Deira Corniche.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and the Prime Minister of the UAE and Ruler of Dubai recently approved that Deira Extension, the first phase of the Deira Corniche project, will connect with the current area of Deira between the mouth of Dubai Creek and Port Hamriya, creating a major new business and residential district that will revitalize the oldest part of the city. The 591 hectare reclaimed land (5.91 million square metres), formed in a semi circle, will extend out from the current Deira Corniche.

Announcing the first phase of the new masterplan, Abdulla bin Sulayem, Operations Director, The Palm Deira stated: 'Deira Extension will ultimately act as the gateway to The Palm Deira but is also a major district in its own right. Its vibrant mix of commercial, residential and recreational elements, has been carefully master planned in a number of sub-districts that will be home to a wide variety of people and businesses.'

Deira Extension will have a wide variety of public amenities, such as places of worships, schools, hospitals and services. The masterplan includes marina and waterfront areas, financial, entertainment and amusement sub-districts and a variety of retail options, including an attractive boulevard at the centre of the district that will lead down towards the waterfront. There will also be a number of parks, beachfront and public meeting areas creating a pedestrian friendly environment, resulting in a bustling community adjacent to the mouth of Dubai Creek.

A conceptual master plan for The Palm Deira, which is planned to be the largest man-made island in the world and a city for more than 1 million people was launched in 2004 and since then extensive planning and studies have been carried out to refine the masterplan.

Reclamation on The Palm Deira development is progressing on schedule with more than 178 million cubic metres of sand in place to date. This volume is 60% more than the total amount of sand used to create The Palm Jumeirah.