The first of the towers — the 48-storey ‘Anwa’ from Omniyat Properties — goes on sale Wednesday with prices starting from AED1,800 a square foot.
While the Maritime City project has been around for the better part of the last decade, it was in 2012 that the developer decided to go in for a completely new masterplan. The project is now split into three phases, with the first two making headway on getting the basic infrastructure and access roads in place. The timing for the launch of the third phase will be confirmed later, according to a top official.
The masterplan would have scope for more than 50 mixed-use projects, an extensive retail component, hotels and green zones.
“With phases A and B ongoing, [private] developers can get on with their individual projects on site, which is what Omniyat has done,” said Khamis Juma Buamim, Chairman at DMC. “Phase B itself has seen confirmations for 19 tower projects, of which 11 should be ready to get going shortly.
“Each of these projects could cost between AED400 million to AED700 million and gives a scale of what Maritime City can become.