Dubai-based developer Nakheel – the company behind both the The World and the three Palm developments in the emirate – is seeking investors for its latest masterplan, Dubai Waterfront.

The 81million sq m (872million sq ft) beachfront development – being directed by Crown Prince of Dubai and UAE minister of defence, Sheikh Mohammed Bin Rashid Al Maktoum – will be a mixed-use destination incorporating more than 250 communities.

Upon completion of the entire development, it is expected Dubai Waterfront will have a population of 400,000.

The initial phase will focus on Madinat Al Arab and will be anchored by Al Burj, one of the world’s tallest buildings.

Nakheel has created the Dubai Waterfront Company for the scheme and will be the majority owner, but is seeking investors for the remaining 49 per cent.

Dubai Waterfront forms the first phase of a larger scheme, the Arabian Canal, a 75km waterway development envisioned by Sheik Mohammed. Details: www.thedubaiwaterfront.com