According to the Wiki the Dubai Waterfront is proposed to become the largest waterfront and largest man-made development in the world. The project is a conglomeration of canals and artificial islands; it will occupy the last remaining Persian Gulf coastline of Dubai, the most populous emirate of the United Arab Emirates. It will consist of a series of zones with mixed use including commercial, residential, resort, and amenity areas. The vision of the project is "to create a world-class destination for residents, visitors and businesses in the world's fastest growing city".
Developed around 11 key zones the total coverage will be larger than Manhattan and housing 700,000 people. In essence the development is a new city on the waterfront in a city that is expected to grow from 1.2 million to 4 million in population by 2020.
The marketing movie below provides an insight into the plans:
As is to be expected form Dubai the vision of architecture, urban design and town planning have been integrated into a living environment and skyline that approaches an almost Bladerunner-esk view.
Find out more from the Dubai Waterfront site.