Nakheel has clarified that list of investors who will own 49 per cent stake in the Dubai Waterfront Company (DWC) is still being finalised and would be announced shortly.
DWC has advised potential investors against issuing individual public statements on deals regarding their investments in the project, as the company will announce the full list of investors when the agreements are finalised.
Sultan Ahmad Bin Sulayem, Executive Chairman of Nakheel and Dubai Waterfront Company, said that with such a path-breaking and visionary project, it was essential to assess the credentials of potential investors very stringently. The final list would be drawn up after taking into consideration factors like innovative ideas, value addition, expertise and financial background of potential investors.
“Dubai Waterfront is the biggest of its kind in the world. The master plan is being developed with the objective of having investors from different fields so that we can make use of their collective expertise to achieve our goal of creating a developmental milestone and a new commercial hub for Dubai,” said Bin Sulayem.
Dubai Waterfront is being developed as a new gateway to the emirate of Dubai. The first phase of DWC will mainly focus on developing Madinat Al Arab, which will be the heart of a vibrant new city. The centrepiece of the project will be Al Burj, one of the tallest buildings in the world. It is projected that Dubai Waterfront’s population would reach 400,000 after completion of the entire project. The DWC forms the first phase of a bigger project called the Arabian Canal, which will have a length of 75 kilometers.
