Dubai Water Canal is estimated to be a AED 2 billion project that is set to become a major tourist destination. This highly anticipated project includes hotels and a shopping centre, over 450 restaurants & cafes plus community cycling paths and luxury housing. There will be public places and facilities and private marinas for boats.
With a completion date of 2017 the 3km long water canal project will run from Business Bay into the Arabian Gulf, crossing Safa Park and Jumeirah. There are various phases for the infrastructure which include the first bridge being constructed over the Sheikh Zayed Road. Road works have commenced to start the diversion for Phase 1 and this is set to be completed last quarter of 2015.
The Dubai Water Canal project was put on hold when the global crisis affected local real estate and this is a positive sign to show recovery in the market and economic climate which can help support and strengthen the real estate industry.
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