UAE-headquartered property developer, Dubai Properties has revealed that it aims to complete and hand over its recently launched Marasi Riverside project in 2020.

A 420-unit, waterfront residential building, Riverside is the first of the four Marasi towers that Dubai Properties intends to develop in Business Bay, on the banks of the Dubai Water Canal.

Marwan Al Kindi, executive director for sales and sales operations at Dubai Properties, told Construction Week: “We’ve finished with our final designs, and we are ready to hit the ground.”

According to Al Kindi, the company plans to award the main contract “soon” but noted that he can’t give a specific date just yet.

“For us, it’s not about the date,” he explained. “We want to find the best contractor, and once we do, we will make an official announcement.”

Riverside was one of the two residential projects that Dubai Properties launched at Cityscape Global 2017, which was held from 11-13 September at Dubai World Trade Centre. The second project was a new phase of Villanova, featuring Amaranta townhouses, which the company unveiled as part of its new development within Dubailand.

“We, at Dubai Properties, are keen and focussed on enhancing our existing projects in JBR, Business Bay, Dubailand, and other communities, Al Kindi added. "People will see a lot of enhancements all around our existing projects.

Dubai Properties has so far delivered 40,000 residential units, and there are more than 100,000 people living in our communities, happy and safe.

Also earlier this month, the first batch of Dubai Properties’ water homes arrived in the country to berth at Marasi Business Bay. Finnish company, Admares commenced production of the floating buildings in October 2016.