DUBAI’S Roads and Transport Authority (RTA) has signed an agreement with Meydan Group and Meraas Holding to develop projects around the 3-km Dubai Water Canal.

The two companies will undertake construction of real estate developments around the banks of the Dh2-billion ($545 million) canal stretching from the Business Bay district and crossing the Sheikh Zayed Road up to Jumeirah Park with an extension to the existing park.

The agreement was signed by RTA chairman Mattar Al Tayer, Meydan Group chairman and CEO Saeed bin Humaid Al Tayer, and Meraas Holding group chairman Abdullah Ahmed Al Habbai.

Meydan’s chairman said the two developers would create a “distinctive destination that embraces the canal and waterfront lifestyle”, and generates over “80 per cent of waterfront property”.

The Dubai Water Canal passes across Al Safa Park, Al Wasl Road, Jumeirah 2 district, and Jumeirah Road before terminating at the Arabian Gulf near Jumeirah Beach Park.

The developments will include hotels, a shopping mall as well as several retail and dining outlets, and residential units.

They will provide more than 14 million sq ft of retail, dining, hospitality and residential lifestyle along the splendid canal, which connects Jumeirah Beach to the Business Bay.

The project, which is expected to attract 30 to 36 million visitors per annum, will comprise recreational and sport facilities.

Sitting at the intersection of Sheikh Zayad Road and the canal will be the Canal Gate Tower, unifying both sides of the canal. The 3.5-million-sq-ft mixed-use development will feature 468 apartments, 470 service apartments and 617 hotel rooms, as well as more than 400,000 sq ft of retail and 735,000 sq ft of commercial office spaces.

Safa Park will be enhanced with the inclusion of a 1.5-km beachfront and space for public leisure and sports activity including running and cycling trails anchored by 1,642 units of residential developments, and 460,000 sq ft of boardwalk retail and restaurants.

A public beach will be added to Jumeirah Beach Park while Jumeirah’s High Street area will feature an exclusive enclave of 19 bespoke villas and 44 townhouses over the retail area. 

The apex of the canal will feature a spectacular hotel tower, while the peninsula at the mouth of the canal will have a 120-berth marina, 925 hotel rooms and 1,363 residential units with stunning views of the Gulf, canal and the city. There will be more than 200,000 sq ft of retail with a total built-up area of over 4.2 million sq ft.

Elaborating on the RTA’s scope of works on the canal, Al Tayer said: “The RTA will cater to the works of the canal, as well as the construction of crossings, roads and pedestrian paths. The project has been divided into three contracts. The first and second contracts relate to the construction of crossings over the canal linking with the key roads intersecting the canal, which are the Sheikh Zayed Road comprising eight lanes in each direction, in addition to Al Wasl Road and Jumeirah Road, comprising three lanes in each directions. Bridges rise 8.5 m above the water level to allow free navigation 24/7.

“The third contract relates to dredging and landscaping works in addition to the construction of pedestrian crossings, and four marine transport stations to ease the movement of the public and promote the mass transport and tourist business. The marine transit modes are expected to ferry more than six million passengers per annum.”

The RTA will carry out several improvements in main roads intersecting the canal in addition to some works in the surrounding areas such as Jumeirah and Al Safa. This includes the construction of roads along the two banks of the canal to ease mobility in those areas.

On completion, the Dubai Water Canal will add 6 km to Dubai’s waterfront, and be a stunning showcase of the UAE’s ingenuity, leadership and creativity.