Second Phase of Dubai Lagoon for Middle Income Earners

Second Phase of Dubai Lagoon for Middle Income Earners

Dubai Lagoon, the 3 billion AED high watermark of living, announced their launch of the second phase of the contemporary property development based in the heart of new Dubai. Targeted at middle income, the Lagoon development is well located for the new airport and minutes from two main highways, Dubailand, Dubai Sports City and Dubai Knowledge Village.

The second phase boasts studios to two bedroom properties and all include fully furnished kitchens as standard. All Buildings of Dubai Lagoon’s second phase will be based around a stunning sapphire coloured lagoon. The second phase is expected to be ready for occupation by June 2008. It is expected the second phase will be as popular as the first phase, which sold out within 54 days, due to the flexible and extended payment terms. Sonia Husain, Executive Director of Dubai Lagoon said:

‘It is expected that the launch of phase two will be met with the same positive response as phase one. We have a unique proposition at Dubai Lagoon that caters for the middle management demographic, a previously ignored demographic by property developers. In addition to well appointed and good value investment opportunities we are offering flexible payment terms and fantastic options’.

Property buyers can take advantage of the payment terms which allow the purchaser to pay 60% over the initial two years with the balance to be paid over the next five years, like monthly rent. Dubai Lagoon is launching the second phase with a celebratory options scheme which will offer the buyer a variety of incentives dependent upon the property purchase. The incentive allows the buyer the option of a new Chevrolet motor vehicle (Spark, Aveo or Lumina), a PAN Emirates Furnishing voucher or a 5% discount upon booking.

Unlike other real estate incentives that wait until completion, with Dubai Lagoon as soon as one book an apartment the owner can drive away the vehicle or take away their vouchers to furnish their new home. In addition to these incentives the apartments are all ownership sub-lease hold title which means that all owners are eligible for family residence visas, subject to UAE immigration rules and regulations. The first phase of Dubai Lagoon proved very attractive to both investors and residents, largely due to the charming, tranquil and luxurious surroundings, resulting in sales of an equal split between the two groups.

Source: AME Info

Related links: Official Dubai Lagoon Website