Select Group, the Dubai-based private real estate developer, has announced the commencement of construction for its latest waterfront development, a mega-project in Dubai’s Business Bay district.
In a statement, Select Group said that Peninsula will be home to a mixed-use development comprising residential, commercial offices, retail, leisure, and hospitality developments combining for an estimated built-up area of 5.5 million sqft.
A vertical development planned around generous open spaces, parks, sports facilities, skate parks, children’s play areas, and a host of retail and F&B offerings, this project will set a new benchmark in residential living in the heart of Business Bay and the Downtown District, Select Group’s chief executive officer declared.
“Having recently delivered a best-in-class residential development, Marina Gate, in Dubai Marina, we are very excited to launch another world class experience in the heart of Business Bay,” Rahail Aslam, CEO of Select Group, said.
He added that Peninsula will be delivered in phases over the next five to seven years. It has been master-planned across nine unique developments, ranging from high-rise towers to luxurious low-rise waterfront villas and simplexes.
The first phase of the development comprising “Peninsula One”, “Peninsula Two” and Select Group’s corporate headquarters is well underway, the statement said. Peninsula is strategically located in the heart of Business Bay and situated directly on the Dubai Canal, allowing it to offer investors waterfront living close to some of the most prominent landmarks in Dubai’s Downtown District. The Burj Khalifa, Dubai International Financial Centre, Dubai Mall, Dubai Design District, and some of Dubai’s beaches are within 10 minutes of the master development, the developer highlighted. “This prime waterfront plot offered us a compelling opportunity to directly influence the complete master plan which has resulted in each development having stunning views coupled with a vast array of outdoor amenities. We’re really excited to deliver a truly world class community in the heart of Business Bay,” added Aslam. Select Group is a luxury developer that specialises in premium waterfront developments. It has delivered more than 13.5 million sqft to date and is set to add another 6.5 million sqft to its portfolio of developments over the coming years. Having launched 15 Northside earlier this year, the developer said that Business Bay has become a key focus, and that it is building a full sales experience centre at Peninsula.