Dubai International and Emaar Properties have signed a partnership agreement to develop a new beach city near Port Rashid.
According to Al Bayan, the project is likely to bear the name of the city of merchants, and will include luxury residential buildings with low heights, entertainment and retail outlets, and service centers.
It is expected that the door will be opened for those wishing to acquire a freehold property in the beginning of next May, when Emaar Real Estate Company has started the foundations of the project recently.
Emaar Properties' partnership with Dubai World is the fourth of its kind in the Emirate of Dubai, where the company is developing joint projects with Meraas Holding, Dubai Holding and Dubai South.
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