New high-rise planned on Dubai Marina

01 November 2002

A tender is expected to be issued by December for the main package covering the construction of a new high-rise building in Dubai Marina. Called Marina Terrace, the mixed-use project will cover the construction of a 37-storey tower 160-180 metres in height.

The facility will offer about 200 one-, two- and three-bedroom residential units. The project will also entail the construction of a waterfront piazza on the ground floor, a shopping boulevard and themed restaurants.

The project will be constructed over an area of 500,000 square feet and is targeted for completion by October 2004. The development is estimated to cost AED 150 million-180 million ($41 million-49 million).

The consultant is Canada's Norr Group Consultants International; the client is the local DAMAC Group.

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