The Mohammed Bin Rashid Al Maktoum Foundation (MBRF) has joined hands with Nshama, a newly launched property firm, to develop a value-added lifestyle project in Dubai.
The joint venture project, which aims to focus on sustainability, culture and knowledge, will offer residents easy access to the business and cultural nerve centres of the city.
Under the agreement signed between Jamal bin Huwaireb, managing director of MBRF, and Fred Durie, CEO of Nshama, MBRF will extend a part of its land bank in Dubai on a joint venture partnership basis to Nshama for developing an integrated community development.
Huwaireb said: “The joint venture with Nshama is aimed at establishing lifestyle destinations of the future with a focus on sustainability and culture. The neighbourhood will also serve as a smart, networked, and interconnected community, which will leverage energy and water-efficient technologies.”
Durie said that the project for MBRF will be designed by world-class architects with emphasis on assuring open green spaces and a pedestrian-friendly layout.
With a focus on youth and the creative community, the project will be a community that harnesses the power of information technology and smart connectivity.
The project, at a central location in Dubai, offers residents the full spectrum of lifestyle amenities including hotels, shopping centres, educational institutions, bookshops, healthcare facilities, and leisure attractions.