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Emaar Bawadi yesterday disclosed details of its first project - a development in Dubailand that will be home to over 55,000 people. The joint venture between Emaar Properties and Tatweer-member Bawadi will develop the project, to be known as ‘Asmaran’, in phases on 70 million square feet close to Emirates Road.
Asmaran will also feature a family-oriented theme park, four million square feet of commercial space, over 5,300 serviced apartments and nine world-class hotels, Emaar Bawadi said in a statement. The residential community will have over 19,000 homes, comprising mainly villas and townhouses set amid gardens.
The overall Bawadi project, announced two years ago, is a dhs200 billion initiative that will bring an additional 51 luxury hotels and more than 60,000 rooms to Dubai. It will be the longest development of hotels in the world, stretching ten kilometres. Bawadi will also include the world’s largest hotel - the Asia-Asia Hotel and Resort - which will boast more than 6,500 rooms when completed, according to the statement.
“Bawadi is envisaged as the longest hospitality, shopping and entertainment boulevard in the world, and Asmaran will greatly add to the varied range of mixed-use offerings within the development,” said Bawadi CEO Arif Mubarak. “With its focus on integrating residences, leisure, hospitality and commercial space, Asmaran will further strengthen the tourism and property sectors in Dubai and Bawadi,” he added.
Emaar and Bawadi will have equal equity participation on Asmaran, yesterday’s statement revealed.
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