PROJECT

DEIRA ENRICHMENT PROJECT

5 Districts within Phase One of Ithra Dubai’s Deira Enrichment Project near Completion

Ithra Dubai’s award winning Deira Enrichment Project (DEP) is in its final stages of completion for districts 1, 2, 3, 11 and 13 in Phase One of the develop ment. The five districts are mixed-use that offer a seamless blend of com mercial office space, residential, retail spaces and abundant parking. Districts 11 and 13 house the Gold Souk Exten sion and have been designed to suit the unique needs of gold and precious stones merchants.

Deira is the vibrant cornerstone of Dubai’s trading legacy and a place rich

in culture and overflowing with history. From the waterfront apartments over looking The Creek, to an extension of the Deira Souk, the development will create a bustling hub of life that will add to the already rich tapestry woven by communities past and present. It will become a place in which people realize their potential and find the true meaning of home.

Covering a GFA area of 1,181,025 ft2, the new Gold Souk Extension will host approximately 295 retail units and 250 offices, in addition to 468 high quality residences. It is expected to be com pleted in the beginning of 2021.

DEP is highly anticipated by residen tial, retail, and commercial tenants both locally and abroad. Ita ims to revitalize the Emirate’s original community centre and trading hub. The project offers a complete lifestyle solution by antici pating the needs and wants of individuals, families and businesses. The development while adopting a modern approach to design and functionality will preserve Deira’s unique charm and enduring entrepreneurial spirit. Histori

cally, Deira has provided homes and places of business for some of Dubai’s oldest expat communities that have called the area home for generations.

Commenting on the progress of the development, Lachlan Gyde, Executive Director, Asset Management at Ithra Dubai said: “The impending completion of these five districts within Phase One of DEP is a significant milestone for us at Ithra Dubai. We see this project as an embodiment of the Dubai Vision as it promotes environmental sustainability and enables social benefit for the Dubai community.”

He added: “DEP is a wholistic de velopment where the community can live, work and enjoy leisure time in landscaped green spaces throughout the development. Outside of the care fully designed and developed commercial, residential, and retail spaces, this is an element that I think will be

Lachlan Gyde, Executive Director, Asset Management at Ithra Dubai

most rewarding to the community and visitors.”

When complete, Phase One of DEP will accommodate 50 mixed-use build ings incorporating 2,200 residential units, 416 commercial units, 843 retail outlets, F&B units, eight hotels with more than 1,450 rooms and serviced apartments, rooftop experiences, water front promenade, neighborhood parks and several multi-storey car parks. These five districts that are reach ing completion account for 311 retail spaces, 317 office units, 977 residential apartments and 573 hotel rooms and serviced apartments. Ample parking is also available to accommodate resi dents and visitors.

To alleviate congestion in Deira as well as serve the new area by increas ing traffic flow and commuting capacity in and out of the area, a new transpor tation hub containing a multi-storey car park and connecting metro lines is also under construction works. This upgraded infrastructure will enable a seamless in and outflow of traffic providing greater ease for residents and visitors. Additionally, it will give businesses access to a greater pool of customers while at the same time mak ing the neighborhood more enticing to residents.

The Deira Enrichment Project en compasses the Waterfront Market, DEP Phase One and Two and the Gold Souk Extension which is currently slated to open at the beginning of next year.