The Lagoons - Ras Al Khor, Dubai, UAE
'The Lagoons' is not the same as 'Dubai Lagoon' - a development under construction near Jebel Ali Airport location
- The Lagoons has been suspended, cancelled, or renamed. Various reports in 2008 and 2009 indicated that development had stopped, as was apparent to anyone driving past the area on the Dubai-Hatta Road (Ras Al Khor Rd).
- Deyaar Development, developer of the Flamingo Creek project in The Lagoons, said in their 2Q 2010 financial report "The management now believes that the master developer may not complete the related infrastructure and therefore, the project may have to be abandoned," according to Bloomberg news 17 August 2010.
The Lagoons - Master Developer is Sama Dubai
The Lagoons is a large (or massive) development based around 7 islands with waterways between them. It will include the Dubai Towers, sometimes mistakenly referred to as the Dancing Towers, and the first Dubai Opera House (which looks like it was designed by a cyborg, but should be a cool place to go nevertheless). Located at the end of Dubai Creek near the Ras Al Khor Wildlife Sanctuary.
- Project value is AED 65 billion (US$18 bn) cough cough, yes that's how much they said it was.
- Sama Dubai will develop and market half of the overall project, and sell half the land to other developers.
- Freehold properties with 100% ownership for expats and Emiratis.
- The Lagoon will include towers, shops, roads, trees, and so on. Along with yacht marinas, its own Central Business District, and apparently, more than 50 shopping malls.
- Other cultural destinations within The Lagoon will include an arts center, museum, planetarium, and theater.
- Total area of 70 million sq ft (about 6.5m sq meters or 6.5 sq km) with 40 km of waterfront.
- The first three towers - Al Abeer, Al Khayal, Al Laylak in the Al Sedaifa district - were reportedly sold out soon after launch in October 2007.
- Phase I land plots were sold out by May 2006.
- Phase II of The Lagoons, meaning 15 m sq ft of land plots, sales launched in May 2007 and were sold out by October 2007.
- General Manager is Abdulsalam Almarri (appointed May 2006).
- The Lagoons is regarded by some has having better preparation from an environmental perspective than many (or most) other projects in Dubai. Helped by Sama Dubai getting an Integrated Environmental Impact Assessment (EIA) done.
- Project was launched April 2006, construction work started then also. Sama Dubai said everything is supposed to be complete by 2010. We're not holding our breath.
The Lagoons credit notes and property transfer
In September 2009 there were reports that Sama Dubai was offering apartment buyers in The Lagoons an opportunity to transfer their ownership stakes to similar properties in Jumeirah Beach Residence (JBR) or Executive Towers (both Dubai Properties developments). Which could be interpreted as an indication that The Lagoons will be abandoned. Construction appears to at least have been suspended.
Sama Dubai contact details
- Sama Dubai, Dubai Healthcare City, Buildings 51 and 52 (new location, moved from Emirates Towers), PO Box 72527, Dubai, United Arab Emirates, tel +971-4-4279100, fax +971-4-3635305, email email@example.com.
- The Lagoons sales office is in Dubai Healthcare City at Sama Dubai offices - opening hours 8am-5pm Sun-Thu, tel +971-4-4279100 (sales office might be open later and on Sat). No longer at Emirates Towers office location (old tel numbers +971-4-3602000 and 800-7771 are no longer valid but left here for reference).
Last update Wednesday 16-Apr-2014