The movie will follow four teens whose diving excursion in a ruined underwater city turns into a living nightmare as they encounter a group of deadly sharks.
"Teen Wolf"'s Khylin Rhambo, actor Davi Santos, and "Scream" TV star Brianne Tju will also feature in the project, which is already in early production in the Dominican Republic, reports Deadline.com.
British filmmaker Johannes Roberts will return to direct "47 Meters Down: Uncaged", which he co-wrote with his partner Ernest Riera.
The original movie, about two sisters whose Mexican vacation is ruined after a diving trip in shark-infested waters goes awry, became a cult box office hit upon its release last year (2017), banking just under $60 million (£48 million) worldwide from a budget of just $5.5 million (£4.4 million).
In addition to being cast in the new film, Corinne and Sistine also have another accomplishment in common - they have both previously served as Miss Golden Globe. Jamie's 24-year-old daughter scored the honour in 2016, while Sistine, 20, and her sisters, Scarlet and Sophia, jointly held the position, now known as the Golden Globe Ambassador, in 2017.