Nakheel are now ready to go ahead with a $12 billion redesign plan.
Today, Port Rashid is dominated by thousands of shipping containers, large ships and heavy moving cranes. Dubai property giant Nakheel wants to change all of that. After a massive re-development the Port Rashid area is expected to be a massive tourist destination. Chosen for it's in-city location, this area will undergo a transformation that will accommodate commercial, residential and hospitality projects. The redesign should accommodate as many as 200,000 people.
Nakheel is expecting to see investments totaling $12 billion. Many large developers, businessmen and real estate investors have been invited by Nakheel as potential investors to hear the details surrounding this massive redesign. Not many specifics are available yet other then some of the features of this new tourist attraction. Apparently a large land reclamation effort will be made from the sea. This will be accomplished by filling up a portion of the port with earth, which will enlarge the surrounding land area and add to the city's coastline.
Other projects include both residential and commercial towers, a yacht harbour and facilities to be used for sports and entertainment. As master developer, Nakheel will create the necessary infrastructure and then will award smaller contracts to other developers and construction companies. This redesign effort is welcomed in the Gulf. As the city grew around the port it began to strain resources and also lead to traffic problems. The luxurious living and activities that the Dubai based developer has in store is expect to boost the local tourism industry.
Over the last several months, the port's operations have been moved to Jebel Ali Port. Port Rashid's current tenants have been notified that they must evacaute. One operation that may be staying is the cruise terminal. Most likely it will be modified along with the redesign to better serve the port's future needs.
