The Mohammed Bin Rashid Al Maktoum Foundation (MBRF) has joined hands with Nshama, a newly launched developer, for a value-added lifestyle project in Dubai, UAE.

The MBRF, which aims to empower future generations through a diverse array of initiatives, said the joint venture project will focus on sustainability, culture and knowledge.

It will offer residents easy access to the business and cultural nerve centres of the city, said the company in a statement.

As per the agreement, MBRF will extend a part of its land bank in Dubai on a joint venture partnership basis for developing an integrated community project, and Nshama will design and develop the project, stated MBRF managing director Jamal Bin Huwaireb after signing the pact with Nshma CEO Fred Durie.

Huwaireb said the foundation has been actively involved in promoting various cultural initiatives in the city and elevating the status of Dubai as a centre of arts, thus attracting creative minds from around the world.

"As Dubai prepares to host the World Expo 2020, we believe that it is important to create vibrant destinations that add to the city’s overall infrastructure," he noted.

According to him, the joint venture project with Nshama is aimed at establishing lifestyle destinations of the future with a focus on sustainability and culture.

"The neighbourhood will also serve as smart, networked, and interconnected community, which will leverage highly energy and water efficient technologies. Nshama will design and develop the joint venture project that will serve as homes, business centres and cultural destinations," added Huwaireb.

Durie said: "We are thankful to MBRF for signing the joint venture agreement to develop the flagship project of Nshama, a new development company that brings an innovative lifestyle development concept to Dubai."

Nshama, he said, has an innovative and new development model that sets it apart. "Our focus is on creating fully-integrated communities that meet the requirements of residents who seek a high quality, value-focused and sustainable lifestyle," he noted.

“Nshama projects are truly self-contained and offer residents all their needs in close proximity. We distinguish ourselves at all touch points – from value to amenities, location and sustainability considerations. Investing in Nshama is to shift their lifestyle from a predominantly rent-driven model to owning an end-user home that is cost-competitive, amenity-rich and serves as solid investment for the family,” stated Durie.

The project, said the official, will be designed by world-class architects with emphasis on open green spaces and a pedestrian-friendly layout.

The full spectrum of lifestyle amenities including hotels, shopping centres, educational institutions, bookshops, healthcare facilities, and leisure attractions are being considered for the masterplans.

With a focus on youth and the creative community, the JV project will be a vibrant community that harnesses the power of information technology and smart connectivity, said Durie.

The JV project will leverage green building techniques and have extensive sustainability features.-TradeArabia News Service