Real Estate & Construction

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Mohammed Bin Rashid City

A city within a city, Mohammed Bin Rashid City aims to attract visitors and residents with its use of green space, attractions, and luxurious residences. The development is currently ongoing with construction and sales beginning in District One, Dubai Hills Estate, and Dubai Creek Harbour.

In line with Dubai’s aspirations to become a world-class tourist destination along with maintaining top-notch residential accommodation for its inhabitants, Mohammed Bin Rashid City (MBR City) is set to accomplish both. Located between Sheikh Zayed Road, Emirates Road, and Al Khail road, MBR City will contain sprawling parklands, the largest shopping mall in the world, Mall of the World, and will include more than 100 hotels, golf courses, a hub for the arts, and centers to develop small businesses. The concept was originally launched in 2008 and looked as though it was going to be another victim of the real estate market collapse due to the financial crisis. However, since the exit of the financial crisis in 2013 and Dubai’s rapid economic rebound, the project is back on track with construction already in progress on District One, Dubai Hills Estate, and Dubai Creek Harbor projects.

In late January 2014, HH Sheikh Mohammed Bin Rashid Al Maktoum inaugurated the District One development of MBR City, an urban, mixed-used, leisure, and sports development. District One is being developed by an equally split joint venture between Meydan, an Emirati project developer, and Sobha, a leading Indian real estate player. Alongside Al Khail Road, adjacent to Meydan Racecourse, and less than 3 km from Dubai’s downtown, it will be a community that will be considered one of the world’s lowest density residential villa projects. About 65% of the project’s land area will be made up of parks and waterways. Attraction points feature a 350,000sqm water park, the largest crystal lagoon body of water in the world with 7km of lagoons, and man-made beaches alongside retail zones, leisure, and sports attractions. District One is set for construction in four overlapping three-year phases. The first three-year phase includes the construction of 375 villas, features a water lagoon, park, and show village that will serve as a prototype for the residential area. The first phase of the project is set wrap up in 2016 with total completion before World Expo 2020.

One of the world’s largest project developers, Emaar Properties, together in a joint venture with Meraas Holding, has also recently unveiled a new collection of residential apartments in Dubai Hills Estate, an integrated master-planned community that marks the first phase of MBR City. Set on prime land, spanning over 11 million sqm, Dubai Hills Estate features vast stretches of landscaped parks and gardens, winding walkways, and extensive open areas. At the heart of Dubai Hills Estate neighborhood will be an 18-hole championship golf course, an iconic commercial center, high-end retail centers, as well as low-rise and mid-rise residences, hotels, and service apartments. At the end of February 2015, following a strong investor response to the earlier introduction of Mulberry at Park Heights, Emaar Properties has launched sales at its newest residential development in Dubai, Acacia at Parks Heights.

Alongside its Dubai Hills Estate development, Emaar Properties is also launching the Dubai Creek Harbour project within MBR City in partnership with Dubai Holding. The grand master plan will be three times the size of Downtown Dubai and has been designed to accommodate 39,000 hotels and 22 hotels. The Dubai Twin Towers, an iconic mixed-use development billed to be the tallest twin towers in the world, will be at the center of the development. This project will be developed in phases and the first phase, called Dubai Creek Residences, will be a cluster of six towers. The towers will stand at 40 stories with apartments ranging from 900sqft to over 2,150, with one, two, and three bedroom residences. The first phase will also include retail elements along with three hotels, including Vida and Manzil branded properties. The first phase is scheduled for completion and sales began last year, although there has been no word when the construction is set to begin or a completion date for the Dubai Twin Towers.