Bluewaters Island is a development project under construction 500 metres (1,600 ft) off the Jumeirah Beach Residence coastline, near Dubai Marina, in Dubai, United Arab Emirates. The project was approved by Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and ruler of Dubai. It will be built on reclaimed land by Meraas Holding, with dredging work to be conducted by Van Oord, the Dutch firm known for its work on Palm Jumeirah, and will cost AED 6 billion (1.6 billion USD, including the Dubai Eye). It will include entertainment, hospitality, residential, and retail zones, and is forecast to attract more than three million visitors annually