Dubai Canal project could be ‘next big thing’ for residents

This content was originally posted in 7DAYS UAE website at: Dubai Canal project could be ‘next big thing’ for residents The residential units created by the building of the Dubai Water Canal will prove popular among tenants because of the “desirable locations”, real estate agents have said. The comments come after it was announced that the project is now 61 per cent complete. The Dhs2 billion Water Canal will link Business Bay with the Arabian Gulf in a 3km route passing through the heart of Dubai. It will include 5,345 residential units and 948 hotel rooms linked with Safa Park and separately in the new marina. A property sales and leasing consultant at Ocean View in Dubai, Keone Fernandes, said that Dubai Canal could be the “next big thing” for residents looking to move into a waterfront property in the heart of the city. He said: “Nothing beats living in Safa. Some of the villas there have gotten old and I think many of the tenants will shift from their old homes to the new ones by the canal. Usually they move out to locations such as the Palm or Springs, but once the project is completed, they’ll have an option to stay in the same area.” RELATED: Dubai Water Canal project 61% complete Another real estate agent, Fares Sayed, believes that the residential units in the new marina will also open up new doors for people who’ve always wanted to live in that part of town. This expansion will include ‘deluxe’ property development projects in the marina, which will feature more than 60 boat berths, 1,817 residential units, 957 five-star hotel rooms and 347 retail outlets and restaurants. Sayed said the area is very popular and “will be more in demand once the project is completed”. In order to complete the project, the Roads and Transport authority (RTA) has broken the scheme into three parts. The RTA is constructing an eight-lane, Dhs580 million bridge over the Canal on Sheikh Zayed Road to allow “free navigation”. The contract for Phase II of the project, costing about Dhs384 million, includes constructing bridges on Al Wasl and Jumeirah Beach Roads across the Water Canal that will allow the passage of yachts of up to 8.5m in height. sarwat@7days.ae Read the original story at: Dubai Canal project could be ‘next big thing’ for residents