The Marasi Business Bay Promenade project, which is being built at a cost of AED1 billion ($272m), is scheduled to open next month, according to Dubai Properties (DP).

More than 10km of the 12km promenade has been completed, with the project opening set to coincide with the opening of the Dubai Water Canal, the developer said.

The Dubai-based DP said in a statement that the surrounding infrastructure, including paving of open areas, is also complete in the 10km finished stretch of the project.

DP expects the destination to be used for outdoor family time, entertainment and weekend leisure activities.

Abdulla M. Lahej, group CEO of DP, said: “The Business Bay landscape will be redefined with the opening of the Marasi Business Bay Promenade and the Dubai Water Canal. Visitors and residents in this area, which has been known more for its commercial activities, will now have a unique venue in the heart of the city where they can enjoy a new active, urban lifestyle at the city’s next iconic fitness and leisure destination.

“The AED1 billion Marasi Business Bay mixed-use destination will become synonymous with what Dubai has to offer ahead of the World Expo 2020 and in line with the Dubai Plan 2021 to create a smart and sustainable city with happy people.”

Marasi Business Bay has direct connectivity to the city’s main transport arteries and is located within 550m of Downtown Dubai, the statement said.

DP also claimed the project to be the region’s first purpose-built yachting destination, located along the Dubai Water Canal on the extension to the Dubai Creek. The project is divided into three themed main areas – The Marina, The Park and The Pier – of which the first two are scheduled for delivery in Q4 2017 under its first phase.