Waterfront surges ahead as Nakheel commences flooding of Palm Cove Canal
- United Arab Emirates: Monday, April 28 - 2008 at 11:09
- PRESS RELEASE
Nakheel, a Dubai World company and one of the world's largest and most innovative real estate developers, today commenced flooding of Waterfront's Palm Cove Canal - a significant milestone in the creation of the largest urban development project in the world.
The Palm Cove Canal, eight kilometres in length, forms the distinct island of Madinat Al Arab, Boulevard Park, and the Canal District of Waterfront; and will be linked to the Arabian Gulf at two entrances. A full study is currently underway by marine specialists to ensure that the breakwaters do not disturb the natural offshore reef system. The study will also reveal the best means of utilising the waterway system as a form of transport throughout Waterfront, easing the reliance on the motor vehicle.
Matt Joyce, Nakheel Managing Director, Waterfront said:
"Today is a momentous day in Waterfront's history and we are witnessing the results of years of hard work. When complete, Palm Cove Canal will boast five marinas, miles of boardwalks, and an integrated water transport system.
"The flooding of the canal marks the first step in bringing this waterfront community to life. The waterway system will also form an important arterial link for Waterfront in line with a study that has been commissioned to achieve Nakheel's vision of delivering sustainable communities; focusing on integrating water transport with land based transport to form comprehensive networks."
Construction of Palm Cove Canal, which runs parallel to the coastline, is more than 65 per cent complete. Upon full completion, which is expected towards the end of 2008, the canal will boast eight vehicle bridges and two pedestrian bridges. In addition, there will be five marinas covering a total area of 82 hectares and a quay wall of 3,350 linear metres. Waterfront's entire waterway system will comprise of Palm Cove Canal, Waterfront City Harbour Canal, Southern Harbour Canal, and a section of the Arabian Canal.
Waterfront, the largest waterfront development in the world, is set to transform 1.4 billion square feet of empty desert and sea into an international community for an estimated population of 1.5 million people that is twice the size of Hong Kong island.
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Nakheel is one of the world's largest privately held real estate developers, and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism.
Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai, and now in key markets around the globe, across a range of sectors - residential, commercial, hotels, retail, and leisure. Nakheel's projects are conservatively estimated to be worth US$80 billion. Upon completion Nakheel's waterfront projects will have added more than 1000km of shoreline to Dubai's coastline.
Nakheel's Dubai portfolio currently includes The Palm Jumeirah, The Palm Jebel Ali, The Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, and Dragon Mart.
Nakheel is a key entity within Dubai World. Dubai World is one of the world's largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.
Further information can be found at www.nakheelmediacentre.com
For more information please contact:
Four Communications
nakheel@fourcommunications.com Tel: +971 55 985 3375/3377
or
Nakheel
Aaron Richardson, Media Relations Manager on +971 4 368 6946 / +971 (0)50 553 8201
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Posted by Anne-Birte Stensgaard, Senior News Editor



