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Nakheel started handover of first phase of the world's largest waterfront development.

 
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11 Apr 2007

The first phase is part of Madinat Al Arab, the planned urban downtown at the heart of Dubai Waterfront, the world's largest waterfront development created by Nakheel on the western end of the coast of Dubai. The phase, consisting of more than 200 plots, over a number of different zones of land located on the beachfront near The Palm Jebel Ali, sold out for US$ 3.5 billion in five days in July 2005.

The handover will be conducted over the next four months, and started with a three-day workshop for investors. Matt Joyce, Managing Director of Dubai Waterfront, said: "Dubai Waterfront is destined to become a landmark city in the region. We have the luxury of creating this city on a blank canvas, with the site being part reclaimed land, part desert. Although this is a luxury, this is also a great responsibility and one we take very seriously".

Dubai Waterfront - Bigger than Manhattan and Beirut - The world's largest waterfront development.
Dubai Waterfront - Bigger than Manhattan and Beirut - The world's largest waterfront development.

The vision behind Dubai Waterfront is to create a world-class destination for residents, visitors and businesses in the world's fastest growing city. This ambitious development is organised around key components of the master plan, encompassing a new downtown, Madinat Al Arab, which is anchored by Al Burj - one of the world's tallest buildings.

Surrounding the harbour is a series of zones with mixed use, commercial, residential, resort and amenity areas. Together they form the symbol of Dubai's meteoric rise, and the grand intent of this truly unprecedented master plan.



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