Ithra Dubai’s Deira Enrichment Project (DEP) is in its final stages of completion for districts 1,2,3, 11 and 13 in Phase One of the development. The five districts are mixed-use that offer a seamless blend of commercial office space, residential, retail spaces and abundant parking. Districts 11 and 13 house the Gold Souk Extension and have been designed to suit the unique needs of gold and precious stones merchants.
DEP is highly anticipated by residential, retail, and commercial tenants both locally and abroad. It aims to revitalize the Emirate’s original community center and trading hub. The project offers a complete lifestyle solution by anticipating 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. Historically, 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 holistic development where the community can live, work and enjoy leisure time in landscaped green spaces throughout the development. Outside of the carefully designed and developed commercial, residential, and retail spaces, this is an element that I think will be most rewarding to the community and visitors.”
When complete, Phase One of DEP will accommodate 50 mixed-use buildings 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, waterfront promenade, neighborhood parks and several multi-storey car parks. These five districts that are reaching 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 residents and visitors.
To alleviate congestion in Deira as well as serve the new area by increasing traffic flow and commuting capacity in and out of the area, a new transportation 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 making the neighborhood more enticing to residents.
The Deira Enrichment Project encompasses 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.
The Deira Enrichment Project edges closer to completion with the finalization of several districts in Phase One.
The mixed-use development will rejuvenate Deira and transform it into the ultimate destination for commerce and tourism in Dubai, all the while maintaining the area’s rich heritage.
The Deira Enrichment Project will house 50 mixed-use buildings incorporating 2,200 residential units, office units with over 600,000 ft2NLA, 843 retail outlets, F&B units, eight hotels with more than 1,450 rooms and serviced apartments, rooftop experiences, waterfront promenade, neighborhood parks and several multi-storey car parks. The Development also accounts for the Gold Souk Extension.
Leasing starts June 2020.