Dubai Pearl Site Declared ‘Prime’ City Spot Amid Redevelopment Hopes

A Dubai Pearl redevelopment plan would go “a long way to alleviating the drought of development sites” in the emirates.

The reason is that it is a “prime site” on the doorstep of Palm Jumeirah and with great access to some of the city’s most iconic spots.

Demolition of the Dubai Pearl officially started this week, 21 years after the project was first announced.

Located between Knowledge Village and Media City, the plan was to “create a city within a city.”

However, those plans now seemingly left to the history books, everybody has a question: what happens next?

According to Faisal Durrani, the company’s head of research in the Middle East, said: “Between 2009 and 2014, there were nearly 500 residential transactions at Dubai Pearl worth nearly Dhs4.8billion, with 2009 alone accounting for about 80 percent of all sales.

“The site, which has seen multiple reincarnations now finds itself located in the heart of New Dubai, on the doorstep to what is arguably the most famous island in the world – The Palm Jumeirah – and it also benefits from pre-existing transport infrastructure, making it a prime site in the city.”

“Indeed, with most of Dubai’s most sought-after communities now almost fully built out, the Emirate is running low on prime development sites.”

“Any plans for a revival of the site will go a long way to alleviating the drought of development sites.”

When first announced, initial Dubai Pearl plans involved four towers with 1,490 apartments, seven five-star hotels, over 60 restaurants and a 1,600-seat theatre.

One option would be the Dubai Moon project – a 360-degree recreation of the moon on a grand scale.

Proposed and co-founded by Sandra G. Matthews and Michael R. Henderson, the resort is designed to be built in 48 months and will have an overall height of 735 feet (224 metres).

Henderson said, “We believe the now cancelled Dubai Pearl project site would be a perfect location for Moon Dubai.

“We believe that in the Middle East, Dubai is the most logical and compelling location.”