OMNIYAT, the prominent developer, previously disclosed its acquisition of Marasi Bay Marina from Business Bay LLC.
This acquisition represents a groundbreaking move for OMNIYAT, extending their architectural expertise and elevated lifestyle vision from individual properties to a complete, exclusive, ultra-luxury enclave.
Situated at the heart of Dubai, the dynamic waterfront location currently houses OMNIYAT’s inaugural gem on the bay, The Lana – a unique hotel and residential complex in collaboration with Foster + Partners, operated by the Dorchester Collection.
In addition to The Lana, it is also home to VELA, Dorchester Collection, Dubai, a luxury lifestyle provider, which premiered last summer and presents 38 exclusive waterfront residences.
In an exclusive interview with Arabian Business, Founder and Executive Chairman Mahdi Amjad said: “This is a phenomenal opportunity for us to redevelop the marina and create an integrated experience for all.”
He went on to reveal, “In that destination, we will bring residential properties in north of AED6 billion GSV (Gross Sales Value) over the next 12 months,” emphasising the prime location of these properties.
Despite the anticipation surrounding the master plan for Marasi Bay, Amjad assured that further details will be unveiled throughout the year.
He also hinted at ambitious plans, stating, “We have a lot of concepts in store ahead of the launch,” indicating that the project will span across a vast 400,000 square feet, encircling the waterfront.
Amjad further highlighted the dedication of OMNIYAT to an opulent lifestyle characterised by exclusive experiences and refined design, particularly evident in their collaboration with Dorchester Collection and leading design firms.
He added that OMNIYAT Marasi Bay will cater to ultra-luxury real estate buyers, with designs crafted by international architects.
Addressing the project’s global appeal, Amjad noted, “Marasi Bay would appeal to a lot of European buyers, however, we have buyers from all around the world.”
This venture is poised to make a significant contribution to Dubai’s tourism sector, particularly in the vicinity of The Lana by the Dorchester Collection, Amjad added.
OMNIYAT plans new acquisitions in Dubai
When questioned about the possibility of future acquisitions, Amjad said: “OMNIYAT will continue to invest in new destinations in the city. Over the next 18 months, we will be announcing new acquisitions of certain destinations in Dubai as we love to create new experiences in the prime destinations of Dubai. We will now aim to connect these destinations to our new waterfront project.”
The delivery of OMNIYAT’s current presence in Marasi Bay, The Lana Residences, is scheduled for Q4 of 2023.
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