Developers Line Up To Grab Plots In Arabian Canal Project

Developers are already showing an interest in snapping up plots in the huge Arabian Canal mega-project, which was unveiled on Tuesday by real estate developer Limitless.

Dubai: Developers are already showing an interest in snapping up plots in the huge Arabian Canal mega-project, which was unveiled on Tuesday by real estate developer Limitless.

The vast project is made up of two main parts, an $11 billion canal which will run along a 75 km U-shaped route from Dubai Waterfront to Palm Jumeirah and a $50 billion waterfront 'city', which will cover 33 km of the waterway's southern stretch.

Ian Raine, development manager of Arabian Canal, told Gulf News that Limitless will act as master developer for the waterfront city, setting up the transport and utilities infrastructure and putting up its own buildings, but selling the majority of the space to private developers to construct their own projects.

We will develop a percentage of the project ourselves, but the majority of the land will be sold to third parties. We've already had quite a bit of interest from both local and international third party developers," he said.

However, Raine said plots within phase one of the project are not expected to go on sale until mid-2008.