Dubai-based Al Fara’a Properties will build a waterfront residential project in Dubai Maritime City (DMC), a company official told Construction Week on Monday.
The project is still in the detailed design and planning phase, according to Natasha Gangaramani, director of Al Fara’a Properties.
“With regards to the property development, we are currently working on a residential project, which is going to be based in Dubai Maritime City (DMC). We are actively working on the detailed design now and finalising on the retail offerings,” she told Construction Week.
Natasha said 2014 was a productive year for the company, adding the firm's "order books are full for the next two years.”
The contracting arm at Al Fara'a Group was awarded a contract as a part of the Wafi Mall expansion project.
Dubai is expected to be among the top seven maritime centres in the world by 2020, according to a survey by Menon Business Economics Group, cited in a statement from the Dubai Maritime City Authority (DMCA).
DMCA will accordingly "continue to push for more infrastructure investments, introduce policies and regulations as well as hone more local expertise to expedite Dubai’s position as one of the world’s leading maritime hubs", stated the statement.