The Dubai Waterfront is the largest waterfront development in the world. The project is a conglomeration of canals and islands studded with luxury hotels and homes and will add 800 km of man-made waterfront. It is expected to house 400,000 people and transform the last stretch of Dubai's undeveloped Gulf seashore. New to Dubai real estate, the project is open to foreign investment with its developer, Nakheel, owning a 51% stake. It will consist of 440 km² of water and land developments, an area seven times the size of the island of Manhattan.