A project to develop the Dubai creek front in Bur Dubai's Al seef area has been given the green light by UAE Vice President and Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum.

The project, estimated cost of Dh 2 billion ($544 million), covers a 1.8 km area extending from Al Fahidi, said a Wam report.  

The development, scheduled for completion by the end of 2016, will consist of a floating market, hotels restaurants, art galleries and shops for Emirati handicrafts.

Sheikh Mohammed today viewed a model of the project in the presence of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.

An engineer from the project developer Meraas Holding made a presentation about the master plan of the project, the design of which reflects the Emirati traditional identity, the report said.

Sheikh Mohammed issued directives for close coordination among the project's stakeholders to build the project as a new tourist attraction in Dubai.

"Let us work as one team to transform our city into a cultural hub that attracts creative artists. I want Dubai to remain a melting pot for peace, harmony and love, a vibrant place for all," he added.