The project was approved by Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and unveiled on February 13, 2013. It is built on reclaimed land by Meraas Holding, with dredging work conducted by Van Oord, the Dutch firm known for its work on Palm Jumeirah, at an estimated cost AED 6 billion (1.6 billion USD, including the Ain Dubai, formerly the Dubai Eye). Construction was originally due to start in April 2013, but actually began on May 20, 2013. It opened in November 2018.