Azizi Developments, the real estate investment arm of Azizi Group in the UAE, will begin construction of Phases 3 and 4 of Azizi Riviera in February 2018.
Work on Phases 1 and 2 of the AED12bn ($3.27bn) canal development in Meydan One has already begun.
Construction of Phases 1 and 2 will be completed in Q1 2019 and Phases 3 and 4 will be completed in Q3 2019.
Upon completion, the four phases will create 16,000 apartments.
The company said construction work on the waterfront project will be taken up round-the-clock from February 2018 to achieve the vision of Azizi Group chairman Mirwais Azizi to deliver projects ahead of schedule.
Azizi Riviera will comprise 69 mid-rise residential buildings consisting of studio, one-bedroom and two-bedroom apartments, a mega integrated retail district and a four and a five-star hotel.
The architecture, which is similar to the French Riviera waterfront lifestyle, will contain versatile, contemporary elements.
Azizi Riviera will also feature outdoor recreation facilities and will be located close to the business hub of Dubai and other attractions, including the Meydan One Mall and the Meydan Racecourse, home of the Dubai World Cup.
Another important feature of the project is a mega integrated retail district, which will consist of high street bridge brands, leisure and entertainment options.
The project will also offer access to long, paved pedestrian paths and water transport, yachting facilities and a proposed marina.
The first two phases of the project were showcased during the Cityscape Global exhibition in September 2017 in Dubai.
Azizi Developments CEO Farhad Azizi said: “The consistency in Azizi Riviera construction progress makes the start of 2018 a very exciting time for all of us.
“This destination project will enhance Dubai community lifestyle options through the introduction of mixed-use assets, such as hotels, residential, and retail developments.”