£380 Million Meraas contracts advance Dubai property projects

Two significant tourism property schemes in Dubai are coming closer to realisation. As Sheikh Mohammed’s preferred bidder, Al Futtaim Carillion will now build a massive tourism development that extends 1.8 kilometres across the Dubai Creek, starting from Al Fahidi. The contract, worth £225m, is due for completion at the end of 2016.

The project aims to attract creative artists as well as tourists and will provide three hotels, a floating market selling local handicrafts, a mosque, museums, art galleries, shops, cafes, and restaurants – with architectural designs inspired by Emirati heritage. There will also be provision for underground and multi-storey car parking areas.

Meraas has also commissioned Al Futtaim Carillion to build the Le Mer waterside scheme, to be constructed around Pearl Jumeirah Island in Jumeirah. This mixed-use development, to be built over an area of 9.5 square feet of existing and reclaimed land, will comprise of four different zones including The Beach, North Island and South Island. It will feature two marinas, plus a water park complete with pirate ship and rollercoaster.

The project will also include a 160-room hotel together with 688 apartments and luxury villas. This is an important addition to Dubai’s portfolio of tourist attractions and Abdulla Al Habbai, the Group Chairman of Meraas Holdings, has promised that Le Mer will “Set new global benchmarks for beachfront developments”.

Al Futtaim Carillion - a joint venture between a UK construction company and the construction arm of the Al Futtaim Group – has recently been working on the first phase of the City Walk project in Jumeirah and has just received the go-ahead by Meraas to complete Phase 2. Al Futtaim and Carillion have been trading together since the early 1950s, completing major projects such as the Al Jalila Hospital, Dubai Festival City, Al Raha Beach and Al Bahr Towers.

Le Mer and the Dubai Creek scheme have been created in line with Sheikh Mohammed’s stated aim of turning Dubai into a cultural hub. At the launch of the Dubai Creek project in May last year, he commented: “I want Dubai to remain a melting pot for peace, harmony, and love: a vibrant place for all.”

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