Jumeirah Beach Residence is a 1.7 kilometres (1.1 mi) long, 2 square kilometres (0.77 sq mi) gross floor area waterfront community located against the Persian Gulf in Dubai Marina. It is the largest single phase residential development in the world and contains 40 towers (35 are residential and 5 are hotels). JBR can accommodate about 15,000 people, living in its apartments and hotel rooms. The Project has 6,917 apartments, from 900 sq ft (84 m2) studios to 5,500 sq ft (510 m2) penthouses. Jumeirah Beach Residence was launched in August 2002 from the developer, Dubai Properties (a subsidiary of Dubai Holding) with the cost of 6 billion dirham and was completed in 2007. The Walk at JBR restaurant and shopping strip, which is adjacent to the beach behind JBR, is a very popular location for Al Fresco dining. There are five hotels, rated as 5 star or 4 star, three of which are purpose-built hotels, while the other two are converted residential towers.