(MENAFN) Dubai-based property developer Emaar Properties has recently signed a memorandum of understanding (MoU) with Dubai Municipality to develop a mixed-used beachfront lifestyle development in Al Mamzar, according to the Emirates 24/7.
The two parties will finalize the project management structure once Emaar conducts feasibility studies.
The project, which worth USD544 million, includes waterfront residences, serviced residences, retail amenities, fountains and water features, and water-themed leisure attractions.
The MoU was signed by Abdullah Mohammed Rafi, Deputy General Manager of Engineering & Planning at Dubai Municipality, Dawood Al Hajri, Director of the Planning Department, and Ahmad Al Matrooshi, Managing Director, Emaar.
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