Dubai Properties Group (DPG), one of the largest fully integrated and community development businesses in the emirate, on Tuesday showcased its Dh1 billion ($272 million) Marasi Business Bay, a mix-use waterfront development, at the Dubai International Boat Show.

The 2017 edition of the Mena region's biggest marine luxury, leisure and lifestyle event kicked off on Tuesday at Dubai International Marine Club and will run until March 4.

The Marasi Business Bay launch comes as the 25th anniversary of the annual Dubai International Boat Show (DIBS) is being celebrated at Dubai International Marine Club this year.  

Located along the Dubai Water Canal, Marasi Business Bay features three main areas, The Park, The Pier and The Marina which will hold 700 berths, making it the region’s first purpose-built yachting destination.  

Dubai Properties Group said the destination offers the region’s first yachting location with homes on water and floating restaurants.

The development is at the heart of the extension of the Dubai Water Canal, an integral symbol that is central to the city’s history and identity.

Marasi Business Bay will offer unique onshore and offshore experiences with boutique shopping as well as a range of retail, leisure and entertainment facilities.

Residential units, built on water, will offer unparalleled direct water views and individual boat access, creating a new living proposition for the real estate market in Dubai, said its top official.

Marasi Business Bay is within 550 m of Downtown Dubai and within walking distance to Dubai Mall, with ample parking, making it an ideal destination for families and visitors.

"It is a destination that is set to change the face of Business Bay and Dubai as we know it today," remarked Abdullah Lahej, the chief executive of Dubai Properties Group.

"It is part of our plans of creating destinations that provide exceptional lifestyle experiences for the future, for residents and visitors alike, reinforcing Dubai’s position as a global tourism destination, in line with UAE Vision 2021," stated Lahej.

The first phase of the development, Marasi Drive (also known as Marasi Promenade) was opened last November, and embraces one of the longest water-side boardwalks in Dubai, spanning almost 10km, he added.-TradeArabia News Service