Sama Dubai, the international real estate investment and development arm of recently announced the start of construction work on ‘The Lagoons’ project, situated on theDubai Holding, Dubai Creek.
The Lagoons’ project is the first of its kind and is expected to catalyze Dubai’s position as an international destination, with seven independent island projects designed according to a comprehensive study of environmental effects.
Farhan Faraidooni, CEO of Sama Dubai, said:
‘We are keen to implement all project phases by 2010 as previously announced.’
The project has attracted a number of local and Gulf investors since its launch and more than 20% of the allotted lands for sale were sold out within the first two weeks, Faraidooni noted.
Faraidooni pointed out that consultation with different international and local organizations and stakeholders such as Dubai Municipality, World Wide Fund for Nature (WWF) – UAE office, as well as the Wildlife Protection Office (WPO) – Dubai, has been ongoing and that the project’s environmental excellence is a cornerstone of the development.
It is worth mentioning that ‘The Lagoons’ is set to be a signature development within the booming property sector that has developed in Dubai over the past four years. The project will help enhance the city’s diversity and multicultural character and add to the development of its residential and tourist population.
‘The Lagoons’ ‘ many attractions will provide tourists staying in one of the many five star hotels with a plethora of entertainment venues including over 50 shopping malls, retail arcades, health spas and parks. Residents as well as visitors will also be able to enjoy a number of cultural attractions such as the theater, museum, arts center and opera house. ‘The Lagoons’ offers luxury villas and apartments overlooking the creek with scenic yacht marinas and waterways, not to mention commercial towers and state of the art facilities catering to the local and regional business community.
Source: AME Info