Mega Project Peninsula Launched in Dubai’s Business Bay
Dubai-based private real estate developer Select Group has announced the launch of construction for Peninsula, a waterfront mega-project in Dubai’s Business Bay district, ME Construction News reported in October. Select Group described Peninsula as a mixed-use development comprising residential, office, retail, leisure and hospitality facilities for an estimated built-up area of 5.5 million ft2. Vertical towers are planned around open spaces, parks, sports facilities, skate parks, children’s play areas and a host of retail and food and beverage offerings in the heart of Business Bay and the Downtown District. The project is being delivered in phases over the next five to seven years, with a master plan of high-rise towers and low-rise waterfront villas and simplexes. The first phase, comprising Peninsula One, Two and Select Group’s corporate headquarters, is surrounded on three sides by the Dubai Canal and will offer 518 residential units, from studios to three bedrooms and covering more than 372,000 ft2. Construction has already begun on Peninsula One, and completion is expected in the fourth quarter of 2024.