DUBAI, 9th November 2016 (WAM) – Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has inaugurated the second phase of the Dubai Water Canal, a 12 kilometre waterway that connects Dubai Creek with the Arabian Gulf. The Dubai Water Canal project has been built at a cost of AED 3.7 billion.

Crown Prince of Dubai H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and a number of senior officials, senior business leaders and other dignitaries attended the launch ceremony held in a peninsula near the Jumeirah Beach Park.

His Highness Sheikh Mohammed bin Rashid said that in order to ensure the sustained development of the UAE’s economic capabilities we need to foster innovation, explore new ideas and think outside the box.

Sheikh Mohammed said the UAE aspires to rank among the leading nations of the world and further develop its position as a hub for innovation and creativity. He expressed his happiness at the progress of development in the country. He also expressed his confidence in the capabilities of Emiratis and their ability to lead the nation’s development.

His Highness said: “Every achievement and success that we celebrate motivates us to move ahead with confidence, determination and optimism. We are challenging ourselves to generate the best ideas and initiatives. Our progressive way of thinking, ambition and positive energy will bring happiness to the people and prosperity to the nation.

Sheikh Mohammed praised the professionalism demonstrated in the implementation of the project. He said that the Dubai Water Canal is a new landmark in modern Dubai.

Dubai Holding implemented the first phase of the Water Canal, which cost AED1bn and extends 9 km from the Ras Al Khor area all the way through Business Bay to Sheikh Zayed Road. The project is set to have a positive impact on tourism in Dubai as it will feature a number of tourism attractions that will also be developed by Dubai Holding.

Dubai Holding, through its real estate arm Dubai Properties Group, will also implement ‘Marasi Business Bay’. The development embraces the longest promenade in the UAE, spanning 12 km, featuring water homes, floating restaurants, retail outlets and five palm tree-lined marinas. The project also features the region’s first purpose-built yachting destination with floating restaurants and cafes, alongside onshore boutique shopping and a range of leisure and entertainment facilities. The development’s residential units, which will be built on water with boat access, provide unparalleled direct canal views and create a unique new lifestyle proposition.

The second phase costing AED 2.7 billion extends 3.2 km and features 6.4 km of waterfront. The Canal, which ranges from 80 m to 120 m in width, stretches from the Business Bay, crosses the Sheikh Zayed Road, passes Safa Park, Al Wasl Road and Jumeirah 2 and terminates at the Arabian Gulf.

The inauguration event was also attended by Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group H.H. Sheikh Ahmed bin Saeed Al Maktoum; Chairman of Mohammed bin Rashid Al Maktoum Foundation H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum; H.H. Sheikh Mansour bin Mohammed bin Rashid Al Maktoum; Chairman of Dubai Holding Mohammed Abdullah Al Gergawi; Director General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) Mattar Al Tayer; Chairman and CEO of Meydan Saeed bin Humaid Al Tayer; Group Chairman of Meraas Holding Abdulla Ahmed Al Habbai and a number of dignitaries.

The celebrations started with the national anthem, and later featured an aerial show inspired by the UAE’s heritage against the backdrop of a water fountain themed: A Million Drops Make the Oceans.