Emaar planning serviced residences in Al Mamzar

Emaar and Dubai Municipality have signed a Memorandum of Understanding (MoU) to develop a mixed-used beachfront lifestyle development in Al Mamzar which could include serviced residences.

The developer will conduct feasibility studies and submit a detailed project report outlining the development potential to Dubai Municipality. Following approval of the masterplan, the two parties will finalise the project management structure.

Planned around the 53-hectare (131-acre) Al Mamzar Lake, the project is expected to draw on the lakefront ambience. Among the components being considered are waterfront residences, serviced residences, retail amenities, fountains and water features, and water-themed leisure attractions.

Emaar Properties managing director Ahmad Al Matrooshi said: “Dubai Municipality’s initiative to explore the development potential of Al Mamzar will further add to the city’s economy by creating another engine of growth in the Deira region. Emaar has proven competencies in undertaking waterfront projects that uphold all environmental guidelines.

“For the potential new project, we will focus on sustainable development initiatives, which will reflect across all aspects of the development. It will be a great value addition to Deira, and will also create new jobs and supporting ancillary industries.”

The MoU was signed by Dubai Municipality deputy general manager of engineering & planning Abdullah Mohammed Rafi, director of the planning department Dawood Al Hajri, and Emaar Properties managing director Ahmad Al Matrooshi.

“As per the MoU, Emaar will conduct the required feasibility and environmental studies, and design a world-class project that is suited to the nature of the land,” said Abdullah Mohammed Rafi.

“We will evaluate the report submitted by Emaar to choose a development model that complements Al Mamzar’s current status as one of Dubai’s most popular leisure destinations. Through the proposed project, we aim to add further value to the area, in turn contributing to Dubai’s economy.”

Emaar’s waterfront projects in Dubai include Dubai Marina, the region’s largest marina development of its kind, and the ongoing waterfront project along Dubai Creek, developed as a joint venture with Dubai Holding.