Dubai-based Deyaar Developments announced on Wednesday the launch of its first waterfront project, Mar Casa, for a total investment of AED 1.1 billion (US$300 million).

The 52-storey residential tower is located in Dubai Marine City, the developer said in a press statement.

Saeed Mohammed Al Qatami, chief executive officer of Deyaar Developments: "With this project, we are pleased to offer more real estate investment opportunities to new owners and investors who are interested in having residential units that feature a sustainable concept in addition to luxury."

Sustainable elements include daylight integration, energy-efficient light fittings, superior indoor air quality, energy-efficient MEP systems, non-toxic building materials and smart homes equipped with advanced IP intercoms, as well as intelligent access and lighting control systems, the statement said.

Last week, Deyaar announced the appointment of the main contractor for its Dhs515 million (US$140 million) Tria luxury residential tower at Dubai Silicon Oasis (DSO). The 32-storey residential complex is due for completion in 2025.