Among the many firsts for Dubai, the world's first underwater luxury vessel resort is set to be built in the city.

A project by Kleindienst Group, a Dubai-based real estate and property developer, The Floating Venice will be located 4km off the coast.

WATCH: Floating underwater villas in Dubai

Valued at Dh2.49 billion approximately, it has the capacity to house up to 3,000 guests and give them a taste of an authentic Venetian experience in the Middle East.

On their website, the developer shares, "180 of the 414 bespoke cabins as well as restaurants, bars and boutique shops will be underwater offering guests remarkable views of passing gondolas above and coral reefs teaming with life below."

Inspired by the historic water city, it is said to be the world's first luxury underwater vessel resort, offering both five-star accommodation and dining experiences above and below the water.

Source: Khaleej Times