Ithra Dubai launched the Deira Enrichment Festival DEF at the Deira Enrichment Project’s Sherina Plaza

Ithra Dubai launched the Deira Enrichment Festival DEF at the Deira Enrichment Project’s Sherina Plaza

Dubai, UAE; 23 November 2020: Ithra Dubai, a leading real estate developer fully owned by the Investment Corporation of Dubai, announced the launch of DEF, The Deira Enrichment Festival,  a series of activations taking place at the Deira Enrichment Project.

The activities kicked off on November 19th at the recently launched Sherina Plaza. For twelve consecutive weekends, tenants and visitors are invited to choose from a bundle of family activities and entertainment options.

Every Thursday between 4 and 10 pm, and Friday and Saturday between 2 and 10 pm, families can lounge on bean bags and watch movies projected on an 85 inch screen at the outdoor cinema, or pick from a giant game of chess and a giant Jenga. A bouncy castle is also available on the grounds for younger children and all activities are supervised by a promoter on site. Visitors also enjoy a variety of street food and treats such as cotton candy, popcorn and sweet corn as well as juices and slushes. All precautionary measures with respect to safety and sanitization, including social distancing, are being implemented in line with the requirements of the Ministry of Health and Prevention and the Dubai Municipality.

Ithra Dubai ensures that its developments serve the collective interest of the community and has designed the Deira Enrichment Project to benefit families and businesses that make up the social fabric of the area.

Lachlan Gyde, Executive Director, Asset Management at Ithra Dubai, said: “Deira Enrichment Project maximizes the district’s potential and breathes new life into the Emirate’s original community centre and trading hub while preserving its unique character and heritage. This kind of activation will bring the neighborhood together, establishing the area as a livable space where families and businesses can strive.”

DEP is being built in two phases spanning over eight years. When complete, it will open the area and create residences for over 31,000 people. 

District 3, Sherina Plaza of Phase 1 is the first launched property within the massive mixed-use development. It features 350 residential 1,2 and 3 bedroom units, ranging from 861 to 2,680 square feet, one four-star hotel, with 290 keys managed by Wyndham Hotels is now operational, along with 45 restaurants and retail units, and 116,589 square feet of office space opening soon.

Ithra Dubai will soon be launching districts 1, 2, 11 and 13 of Phase 1, equally consisting of mixed-use facilities and boasting of lush green areas and ample parking spaces. Plots 11 and 13 are dedicated to the Gold Souk Extension and designed to suit the unique needs of gold traders and precious stone merchants. 

About the Deira Enrichment Project and the Gold Souk Extension:

Deira is the vibrant cornerstone of Dubai’s trading legacy and a place rich in culture and overflowing with history. From the waterfront apartments overlooking The Creek, to an extension of the Deira Souk, the development will create a bustling hub of life that will add to the already rich tapestry woven by communities past and present. It will become a place in which people realize their potential and find the true meaning of home.

Covering a GFA area of 1,181,025 ft2, the new Gold Souk Extension will host approximately 295 retail units and 250 offices, in addition to 468 high quality residences. It is expected to be completed in the beginning of 2021.

For more information about Deira Enrichment Project, please visit: www.deiraenrichmentproject.com

Deira Enrichment Project (DEP) and Gold Souk Extension (GSE)

Development Factsheet

History & Overview

  • Deira is one of the oldest trading hubs in the country and the main commercial district along the Dubai Creek.
  • Deira, the historic residential district and commercial hub accounts for 10% of the Emirate’s GDP.
  • Ithra Dubai, the master developer behind the Deira Enrichment Project (DEP) is rejuvenating Deira as part of a wider plan to repurpose the neighbourhood in a manner loyal to the quarter’s distinctive culture.
  • Ithra Dubai aims to carry the city’s historic heart of commerce efficiently into the future while making a positive contribution to Deira’s surroundings.
  • The development will transform Deira into the ultimate destination for commerce and tourism in Dubai and will build on the area’s rich fabric woven by communities past and present.

About Deira Enrichment Project

  • DEP spans over 61ha (610,000 square meters).
  • The project is a mixed-use development that will rejuvenate the residential, commercial, and retail experiences in Dubai’s original trading hub.
  • DEP will introduce improved high-quality, affordable urban living units for new and existing commercial tenants, residences, retail and F&B, as well as high-quality office premises.
  • DEP is being built in two phases spanning more than eight years. It includes the Waterfront Market, which opened in 2017 and the Gold Souk Extension planned to open beginning of 2021.
  • The Project’s contemporary architecture and state-of-the-art engineering are laced with the Arabian building style, look and feel.
  • The first phase 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, neighbourhood parks and several multi-storey car parks. 
  • Existing markets and retail shops will be expanded towards the waterfront and a custom-built walkway will be developed to become the first promenade in the area.
  • Official leasing began in October 2018, and the first handover of Plot 3 occurred in September 2020.

The Gold Souk Extension

  • The Gold Souk Extension will cover a GFA area of 1,181,025 ft2 housing 295 retail units, 250 offices and 468 high quality residences offered on a develop and lease model. GSE will also house 1062 basement parking spaces and 640 spaces for multi-storey car parks.
  • Upgrades to the Gold Souk will refine the overall experience and offer solutions to both commerce and lifestyle including spacious and shaded walkways, new bridges and open passages for brighter and more open spaces.
  • The expansion provides for parking spaces in Deira – currently scarce – within several multi-storey car parks, basement parking facilities and transportation hubs that will connect residents and visitors of DEP with the rest of Dubai’s vital areas such as airports, financial districts and New Dubai.

Playing a Vital Role in Dubai’s Development

  • Ithra Dubai is constantly guided by the principles set out in Dubai Vision for all its developments.
  • Mitigating environmental impact and maximizing social benefit to the community and the United Arab Emirates are pillars of DEP’s blueprints.
  • DEP was developed to make use of, supplement and improve the existing foundations of Deira and its surroundings without causing unnecessary damage.
  • The planning process necessitated significant investment to ensure the conservation of existing structures and facilities, such as the Shindagha Tunnel and Dubai Metro stations running underneath the site.

Key Technical Features of the Development

  • All designs were drawn and are being carried out to ensure energy efficiency in accordance with Dubai Municipality’s Green Building Regulation requirements.
  • Air conditioning, ventilation, plumbing and electrical load allowances are based on current industry standards with room for adjustment according to individual needs.
  • The designs give each building the flexibility to adjust the dimensions of their respective units whether for retail or commercial purposes, in order to accommodate changes in consumer and commercial patterns.
  • LED lighting, recycled grey water and treated sewage effluent for irrigation serve all plots and landscape areas throughout.
  • Solar and electric heat pumps are used for centralised domestic water heating in all hotel and serviced apartment buildings.
  • Car parking structures have also been future-proofed in order to allow for electric cars as this mode of transportation gains prominence.
  • The latest technology is applied for user engagement with the community and one another: applications will be available across the board to monitor building performance, ensure good customer service and security, and provide parking information and directions.

Construction Update

  • 20 districts under Phase 1 are in various construction cycles.
  • District 3 of Deira Enrichment Project is now complete was launched in September 2020. District 3 boasts 350 residential 1,2 and 3 bedroom units, ranging from 861 to 2,680 square feet, 45 retail units, 116,589 square feet of office space and 290 hotel rooms in the 4 star Wyndham Hotel. All the buildings in Plot 3 share a plaza in the middle.
  • Districts 1,2,11 and 13 are in the final stages of construction with a number of plots nearing completion at 100%.
  • The four districts are also mixed-use and offer a seamless blend of commercial office space, residential and retail spaces and abundant parking.
  • Plot 11 includes 21 office units, 25 retail units, and 94 hotel keys and serviced apartments operated by Super 8.
  • Districts 11 and 13 will house the long awaited Gold souk Extension and have been designed to suit the unique needs of gold and precious stones. Gold Souk Extension will host approximately 295 retail units and 250 offices, in addition to 468 high quality residences.
  • In November 2020, Ithra Dubai announced the launch of DEF, The Deira Enrichment Festival, a series of activations taking place at the Deira Enrichment Project.

Awards

Deira Enrichment Project won Project of the Year at Construction Innovation Awards 2019.

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