Mon, Jan 30, 2017

Real Estate & Property
Admares wins phase 1 of Marasi development

Finnish-owned Admares has been awarded phase 1 of the Marasi Business Bay development in Dubai, a further ground-breaking emirates project featuring homes on water and restaurants with direct water views and an exclusive yacht club. 

The Marasi Business Bay is being developed by Dubai Properties, a leading Dubai-based real estate master developer and asset manager known for renowned destinations across the Emirate, and is destined to become a major landmark in Dubai. 

The Admares scope of work will include 10 water homes, 2 restaurants and an exclusive yacht club, all of which are state-of-the-art floating buildings. 

These unique architectural structures will be designed, managed and manufactured in Finland by Admares, ensuring impeccable quality that can be achieved when construction takes place in a purpose-built production facility with a workforce that specialises in construction of floating real estate. 

The entire Marasi Business Bay area will include the longest waterfront promenade in the Emirates and the UAE’s first-ever homes on water with pedestrian and boat access, as well as restaurants, leisure facilities and five palm tree-lined yacht marinas with approximately 700 berths, alongside more than floating retail and F&B outlets, an assortment of onshore boutique shopping, leisure and entertainment facilities as well as a range of local and international businesses.  

Located on the Dubai Water Canal, Marasi Business Bay is set to become a major future landmark in Dubai – an unprecedented unique waterside destination concept in the UAE and the Middle East. 

The development’s main architectural feature will be the homes on water designed and manufactured by Admares in Finland. A forward thinking innovation in residential development, each home will enjoy exclusive boat access and unrivalled views of the surrounding Dubai Water Canal. 

Admares is a pioneer of innovative floating construction, including the successful the Burj Al Arab Terrace, making it possible to build over water in locations where there is short supply of land. The company’s unique design-build floating buildings combine cutting-edge marine and construction technology providing unique real estate opportunities. 

Admares has started the production of the floating buildings in October 2016, with all of the manufacturing and outfitting being completed in Finland, before transportation by sea to Dubai in Q3 2017.

“Our objective is to create unique, innovative and environment-friendly real estate products, utilizing ground breaking, multi-disciplinary off-site construction technology,” said Admares CEO Mikael Hedberg. 

“We started at the top with our first project in the Emirates, working with Jumeirah and Dubai Holding for the Burj Al Arab Terrace. Having successfully delivered the new resort extension – the biggest-ever undertaking of its kind in the world – we now have another project where the client was looking to create a landmark development with a high degree of innovation and quality”.

According to Abdulla M Lahej, Group CEO of Dubai Properties (DP): “As Marasi Business Bay weaves into the fabric of the city, and in line with the Dubai Plan 2021 to create a smart and sustainable city, ahead of the World Expo 2020, as a leading master-developer, we stay one step ahead by working with speed and efficiency to seamlessly create blueprints for success and deliver exceptional lifestyles, value and a lasting impact for the betterment of Dubai. 

“We are pleased to partner with Finland’s Admares to develop the first-of-their-kind homes on water in DP’s Marasi Business Bay destination. Their use of innovative technologies and unique construction techniques to deliver this type of pioneering structures will ensure that these unique homes on water, and the surrounding promenade, parks and marina, will be one of the most sought after residential destinations in the city.”

Marasi Business Bay has direct connectivity to the city’s main transport arteries – Sheikh Zayed Road and Al Khail Road – and it is located within 550 metres from Downtown Dubai. The city’s next iconic destination, visitors to Marasi Business Bay will enjoy a new active, urban lifestyle in the heart of Dubai.

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