Merex Investment is set to redevelop La Mer into a premium beach resort destination
Asset management firm Merex Investment has appointed ARCO Turnkey Solutions as the lead contractor for J1 Beach at La Mer, its flagship beach resort destination set to be built in the heart of Jumeirah.
Merex Investment is a joint venture (JV) between Dubai Holding and Brookfield Asset Management, set up in 2019 with a focus on creating long-term value for Dubai’s residents and business community. It owns and operates a diversified portfolio of retail assets, including The Beach, City Walk, and La Mer, which together span over two million sqft, and hosts more than 550 retail, leisure and entertainment tenants.
According to Merex, the planned redevelopment of La Mer into a beachfront, resort destination reflects its strategic focus on creating enduring value through identifying market opportunities and reshaping the offering to fulfil customer needs.
J1 Beach at La Mer will feature an impressive selection of high-end dining options and scenic beachfront experiences. The first phase of the leasing process for the 500m-long destination is now more than 90% complete, with 10 new concepts already confirmed for its grand opening.
In late January 2023, DAMAC Properties launched DAMAC Bay by Cavalli and, in early February 2023, the Seaside Hills Residence was announced in Ajman.
Merex CEO Shahram Shamsaee commented, “Our vision for J1 Beach is to create a must-visit destination at Dubai. Along with our unique tenants, we are building a cohesive customer experience. Our partners at ARCO Turnkey Solutions are on track to bring to life this vision with smart design and efficient construction.”
Among the main attractions of J1 Beach will be a diverse range of signature restaurants, which include Dubai outposts for Michelin-starred establishments, original food concepts, and licensed venues.
Shahram Shamaee added that, “Patrons will be able to enjoy various cuisines ranging from French, Middle Eastern, Asian-Mediterranean, and Pan-Asian. The destination will also house three renowned beach clubs – Gigi Rigolatto, Bâoli, and Sirene Beach by Gaia – that will offer visitors a memorable beachfront experience from dawn to dusk.”
In late February 2023, SSH completed Phase One of the Dhorfar Beach Resort.