26 July 2008
Fancy having flamingos as neighbours? Then The Lagoons, a Dh70 billion project emerging from marshlands between Ras Al Khor Wildlife Sanctuary and the east bank of Dubai Creek, is for you.
The 70 million sq ft development consists of seven landscaped islands - or districts - and will be home to 140,000 people when completed in 2012. The wildlife reserve is, of course, home to hundreds of flamingos.
One of the islands will be the site of Dubai's first opera house, a futuristic building designed by world-famous architect Zaha Hadid, while another is set to host Dubai Towers, four office buildings rising from the ground in a spiral form.
The first of the three residential towers is sold out and about 40 per cent of the plots allocated to third-party developers - that's 70 per cent of the whole site - have also been snapped up.
These third-party developers, which include Omniyat and formerly National Properties that was taken over earlier this month by Deyaar Development, will build properties designed by master developer Sama Dubai, a real estate arm of Dubai Holding.
A major aim of the project is to maximise the use of waterways and greenery as well as to protect the surrounding environment.
Abdulsalam Almarri, Chief Executive Officer of The Lagoons, said the project's location and features make it a distinctive landmark on Dubai's real estate map. "Since its launch in April 2006, The Lagoons has generated excitement and anticipation among buyers and investors keen on purchasing prime waterfront property in the heart of Dubai. We are delighted Sama Dubai's compelling formula of beautiful homes, excellent location and an inimitable lifestyle experience at The Lagoons has resulted in the total sale of the first of our three residential towers in record time."
The Lagoons was earlier this year recognised at the Middle East Real Estate Awards. The development won awards in two categories - Best Mixed-Use Development and Best Corporate Social Responsibility.
Sama Dubai has implemented an integrated environmental impact assessment, which follows international standards in an attempt to minimise the project's effects on the environment.
Sama Dubai and Dubai Municipality are working together to protect and enhance the Ras Al Khor Wildlife Sanctuary.
The 3.3 million sq ft opera house will be built on the northwestern island and have an auditorium that seats 2,500 people. There will also be a theatre, a museum, an art gallery and a hotel as well as a performing arts institution and a music school.
Dubai Towers, whose buildings will range from 57 to 94 floors, will be the centre point of Al Dana District.
The seven islands will have residential, business and shopping hubs with marinas and canals.
There will be parks and green spaces in all the districts so people can walk freely - or cycle - between the islands and enjoy shaded areas. The urban centres will have ring roads connected to internal roads and an internal tramline is also planned.
Road access to The Lagoons will be from the sixth crossing - a Dh3 billion bridge with links to the opera house - to the north and by Nadd Al Hamar Road to the east, with the Ras Al Khor Wildlife Sanctuary located to the west.
"The project's unique location along the extended Creek and our meticulous attention to detail across all levels of the development have made our apartments some of the most sought-after residences in the region," said Almarri.
Construction work on The Lagoons master community began in late 2006 and 95 per cent of the water-edging work has been completed.
Excavation of the canals is almost complete with reclamation in its final stages and infrastructure work began earlier this year.
An on-site sales and customer service centre is set to open towards the end of this year.
Fancy having flamingos as neighbours? Then The Lagoons, a Dh70 billion project emerging from marshlands between Ras Al Khor Wildlife Sanctuary and the east bank of Dubai Creek, is for you.
The 70 million sq ft development consists of seven landscaped islands - or districts - and will be home to 140,000 people when completed in 2012. The wildlife reserve is, of course, home to hundreds of flamingos.
One of the islands will be the site of Dubai's first opera house, a futuristic building designed by world-famous architect Zaha Hadid, while another is set to host Dubai Towers, four office buildings rising from the ground in a spiral form.
The first of the three residential towers is sold out and about 40 per cent of the plots allocated to third-party developers - that's 70 per cent of the whole site - have also been snapped up.
These third-party developers, which include Omniyat and formerly National Properties that was taken over earlier this month by Deyaar Development, will build properties designed by master developer Sama Dubai, a real estate arm of Dubai Holding.
A major aim of the project is to maximise the use of waterways and greenery as well as to protect the surrounding environment.
Abdulsalam Almarri, Chief Executive Officer of The Lagoons, said the project's location and features make it a distinctive landmark on Dubai's real estate map. "Since its launch in April 2006, The Lagoons has generated excitement and anticipation among buyers and investors keen on purchasing prime waterfront property in the heart of Dubai. We are delighted Sama Dubai's compelling formula of beautiful homes, excellent location and an inimitable lifestyle experience at The Lagoons has resulted in the total sale of the first of our three residential towers in record time."
The Lagoons was earlier this year recognised at the Middle East Real Estate Awards. The development won awards in two categories - Best Mixed-Use Development and Best Corporate Social Responsibility.
Sama Dubai has implemented an integrated environmental impact assessment, which follows international standards in an attempt to minimise the project's effects on the environment.
Sama Dubai and Dubai Municipality are working together to protect and enhance the Ras Al Khor Wildlife Sanctuary.
The 3.3 million sq ft opera house will be built on the northwestern island and have an auditorium that seats 2,500 people. There will also be a theatre, a museum, an art gallery and a hotel as well as a performing arts institution and a music school.
Dubai Towers, whose buildings will range from 57 to 94 floors, will be the centre point of Al Dana District.
The seven islands will have residential, business and shopping hubs with marinas and canals.
There will be parks and green spaces in all the districts so people can walk freely - or cycle - between the islands and enjoy shaded areas. The urban centres will have ring roads connected to internal roads and an internal tramline is also planned.
Road access to The Lagoons will be from the sixth crossing - a Dh3 billion bridge with links to the opera house - to the north and by Nadd Al Hamar Road to the east, with the Ras Al Khor Wildlife Sanctuary located to the west.
"The project's unique location along the extended Creek and our meticulous attention to detail across all levels of the development have made our apartments some of the most sought-after residences in the region," said Almarri.
Construction work on The Lagoons master community began in late 2006 and 95 per cent of the water-edging work has been completed.
Excavation of the canals is almost complete with reclamation in its final stages and infrastructure work began earlier this year.
An on-site sales and customer service centre is set to open towards the end of this year.
By Adrian Murphy
© Emirates Business 24/7 2008
