Merkx Investments, a joint venture between Brookfield Asset Management and Dubai Holding, plans to begin redeveloping part of the emirate’s waterfront. The project comes as the growing population of residents, tourists, and expatriates drives demand.
Construction of approximately 225 luxury homes in the area, popular with wealthy buyers, is scheduled to begin before the end of 2025 and is expected to be completed before the end of 2027.
The project will be located adjacent to J1, an entertainment complex developed by Merkx and scheduled to open in September 2024. Merkx is collaborating with Dubai Holding to create retail and leisure areas that meet the needs of the surrounding residential neighborhoods.