Dubai real estate developer Emaar Properties has launched its long-awaited US $6.8-billion redevelopment of Port Rashid into a leisure and luxury lifestyle destination.

The port will be transformed from a dusty commercial harbour into a gleaming cruise and yachting hub, complete with ‘The Dubai Mall by the Sea’, a waterfront retail, dining, and leisure hub; a floating yacht club; a 1.26ha sandy beach; and Dubai’s longest swimming pool.

Dubai’s redeveloped Port Rashid will feature hotels, a mall, a beach, inland canal and several waterfront developments

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The Mina Rashid redevelopment will be centred around a 430-berth marina, the largest of its kind in the Middle East, much of which has already been built adjacent to QE2 Dubai, the floating hotel that formerly operated as Cunard Line’s flagship ocean liner.

Hotels, a private beach club, interconnected parks, a 500m-long palm tree-fringed canal, art galleries, a theatre, and a museum will be developed around the marina, QE2 Dubai and the Dubai Cruise Terminal.

The land has been given to Emaar for the development by P&O Marinas, a subsidiary of DP World, which operates Port Rashid and it’s cruise terminal.

The current satellite image of Port Rashid

Mohamed Alabbar, chairman of Emaar Properties, said in a statement that the redevelopment of the port would mark a new chapter in Dubai’s impressive growth story.

“For over two decades, we have worked tirelessly to contribute to the growth and evolution of Dubai as a global city that befits the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai,” he said.

“Now, with Mina Rashid, we are creating a future-ready city that … will further enhance economic growth,” he added.

The new project by Emaar appears to be an expansion of a previously announced redevelopment of the port

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The port will also be home to a new residential community, named after the first ship to ever call at Port Rashid when it was first launched in the 1970s.

Sirdhana will offer one-, two-, and three-bedroom waterfront apartments and townhouses, many of them overlooking QE2 herself and the Dubai Cruise Terminal.

“The new development of Mina Rashid will strengthen Dubai’s position as a global city and the premier cruise hub in the Middle East,” said Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer of DP World. “Our venture with Emaar will contribute to the city’s cruise tourism and create another strong economic catalyst.”

Dubai Cruise Terminal this week hosted the largest cruise ship ever to make a port call in the Middle East and has experienced 18% growth on average for the past five years, with more than 1-million cruise tourists expected to fly-cruise from the city during the 2020 cruise season.