Local developer Emaar Properties and Dubai Municipality have signed a memorandum of understanding (MoU) to develop a mixed-used beachfront development in the Al-Mamzar area.
Emaar will conduct feasibility studies and submit a detailed project report outlining possible development plans to Dubai Municipality. Once the masterplan is approved, the two parties will finalise the project management structure.
Possible components include waterfront residences, serviced residences, retail amenities, fountains and water features and water-themed leisure attractions.
In late March Dubai-based developer Nakheel says it would like Emaar Properties to develop new projects on its waterfront developments in Dubai, including its new Deira Islands project.