Nakheel, a leading developer based in the emirate, unveiled its vision for Dubai Islands, intending to transform the idea of waterfront living, it was announced in a statement by the Government of Dubai on Monday.
"Comprised of five islands with a total area of 17 square kilometres, Dubai Islands have been designed to enhance the well-being and lifestyles of residents and visitors," it added in the statement.
"Aligning with Dubai 2040 Urban Master Plan, Dubai Islands - formerly known as Deira Islands - will reinforce the emirate’s position as a global destination of choice for residents, visitors and investors."
The Dubai 2040 Urban Master Plan is a plan for a sustainable urban development in the emirate, focusing on enhancing quality of life and reinforcing the city as a global destination for citizens, residents and visitors over the next 20 years, according to information available on the UAE Government Portal.
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The plan has a strategic structural layout, integrating all urban development master plans in the emirate and aligning it with Dubai’s strategic economic priorities and the needs of the future.
Additionally, the Dubai 2040 Urban Master Plan is the seventh such development plan for the emirate since 1960. Between 1960 and 2020, the population of Dubai has multiplied 80 times from 40,000 in 1960 to 3.3 million while the urban and built area of the emirate increased 170-fold from 3.2 square km.
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Meanwhile, Nakheel's development proposition maps out cultural hubs, recreational sport beaches and beach clubs, for each island, all in one interconnected location within easy access of the city and airport, the statement added.
The islands will also draw over 80 resorts and hotels, including luxury and wellness resorts, boutique, family and eco-conscious hotels, in keeping with Dubai’s ambition to boost the tourism and hospitality sector by increasing the volume of hotels.
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With over 20 kilometres of beaches, approximately two square kilometres of parks and open spaces and premium golf courses overlooking the Arabian Gulf, Dubai Islands will increase the length of beaches and areas dedicated to public parks. The emirate plans to double the amount of greenspace available by 2040.
A well-connected network of marinas promenades and pathways for water and road transportation, walking and biking support the Dubai 2040 Urban Master Plan in developing vibrant and healthy communities.
“Dubai Islands are an integral part of the future vision for the emirate, focusing on enhancing the health, happiness and wellbeing of residents and visitors, as well as providing the highest standards and variety of urban infrastructure and facilities," Naaman Atallah, Chief Executive Officer at Nakheel, was quoted as saying in the Government of Dubai statement.
"Dubai Islands will add to the Nakheel portfolio of residential, retail, hospitality and leisure developments, offering another destination within a destination."
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The emirate this year also set a record for the most expensive home in the city at Dh280 million. The record is expected to be broken again before the end of 2022, reported by The National.
Steps to improve the ease of doing business in Dubai – allowing it to attract foreign investors and wealthy people – and the success of the emirate's golden visa programme also bode well for big developments such as Dubai Islands.
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Dubai's economy, which made a strong rebound from the coronavirus-induced slowdown last year, has carried the growth momentum into this year, supported by the resurgent real estate and tourism sectors.
The emirate’s economy grew by 6.2% in 2021, according to preliminary data from the Dubai Statistics Centre.
In the first three months of this year, Dubai’s gross domestic product expanded 5.9%, according to government data.
A sharp rise in the number of tourists has also supported the non-oil economic growth of the emirate.
Dubai hosted 7.12 million international visitors in the first half of 2022, about three times the 2.52 million tourists recorded in the same period last year, the emirate’s Department of Economy and Tourism said earlier this month.
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This is not the only development Nakheel is spearheading. Earlier this year, it announced the redevelopment of Jebel Ali Village earlier this year and unveiled plans to build villas and town houses in the community reported The National.
It is also not only developer encouraged by the strong economic rebound to revive expansion plans, acquire portfolios and launch projects in the emirate.
Earlier this month, Damac Properties announced a launch of a range of penthouses and luxury units at three of its most upscale developments in Dubai.
Emaar - Dubai’s biggest developer by market capitalisation - said earlier this month that it was acquiring Dubai Creek Harbour from Dubai Holding in a Dh7.5bn cash-and-share deal that would make Dubai Holding the second largest shareholder in Emaar, according to The National.
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