Mina Rashid is a major commercial port transformation project located in Dubai Creek Harbour between Bur Dubai and Deira. For four decades, the port area has been used for commercial purposes. Since the 2000s, it has been used for cruise ships as well. Emaar is working with P&O Marinas on a mixed-use development similar to the ports of Monte Carlo. The first facilities are scheduled for delivery in the third quarter of 2022. The project covers an area of 631,000 sq. m (6,800,000 sq. ft.) and embodies a Riviera-inspired atmosphere with modern amenities and luxurious accommodations.<br /> <br /> The development consists of residential complexes, entertainment venues, hotels, private beaches, and embankments. The area has space for more than 400 yachts. Residents can enjoy nearby retail outlets and parks, and there are plans to build a pedestrian bridge leading to Saeed Al Maktoum House.<br /> <br /> The residential area of the neighborhood is divided into seven sub-communities, which are dominated by medium-rise buildings. Properties include one- to three-bedroom apartments that range in size from 65 sq. m (700 sq. ft.) to 191 sq. m (2,060 sq. Ft.). Penthouses are also available, and all of the units are equipped with modern conveniences.<br /> <br /> The development offers a seaside resort atmosphere that is associated with relaxation and entertainment. The community is situated in an area with a well-developed infrastructure. Residents can take advantage of nearby schools, medical centers, stores, and salons, which can be reached within walking distance of the residences. Residents also have access to facilities in nearby communities.<br /> <br /> Hessa Bint Al Mer School, GEMS Winchester School, Dubai Healthcare City, and Mohammed Bin Rashid Medical University are located within a 20-minute drive of the neighborhood. Dubai Mall by the Sea is currently being developed and will include retail stores, restaurants, and entertainment venues.<br /> <br /> For groceries, Carrefour and Spinneys can be reached within a 15-minute drive of the residences. There is a wide selection of local restaurants and cafes, as well as Queen Elizabeth II, a floating hotel and restaurant.<br /> <br /> Residents have easy access to nearby bus stops, as well as local cab and ferry services. The Dubai International Airport is situated within a 20-minute drive of the development.<br /> <br /> Economic attractiveness<br /> <br /> Mina Rashid is a large-scale neighborhood with a unique concept that provides a modern and comfortable living environment. Real estate was designed to suit a diverse mix of residents. The resort-style residential areas offer water activities, recreation areas, and entertainment venues. However, the communities are quiet and safe, and residents have access to a private beach and yacht club.<br /> <br /> Investors can purchase properties to subsequently rent out, which can generate a passive income. The area is guaranteed to attract tourists, and the average return on investment rate for an apartment in Mina Rashid is 5.08%.
