95% work on The Lagoons Islands completed

Sama Dubai, the international real estate investment and development arm of Dubai Holding, today announced it has successfully completed over 95 per cent of work on the water front (water-edging) at ‘The Lagoons’, the 70 million square feet Dubai Creek waterfront project that is fast taking shape as one of Dubai’s most ambitious developments.

With the excavation of canals almost complete and land reclamation in final stages, Sama Dubai estimates the seven landscaped and interconnected island districts that comprise ‘The Lagoons’ will be surrounded by Creek waters by end-2009.

As a master developer, Sama Dubai’s strategy is to develop various areas of the project through strategic partnerships with select third party developers. The preparedness of the site to flag off construction activities is being demonstrated with several third party (sub) developers mobilizing contractors to commence construction on their plots at The Lagoons. Last April, National Properties broke ground for its low-rise Flamingo Creek residential community at the award winning development.

Located within the heart of Dubai, the self-contained urban development has registered perhaps the most visible manifestation of the break-neck progression on site. Infrastructure work on more than 185,000 square meters of land is making rapid headway, achieving a significant number of key milestones.

Farhan Faraidooni, Executive Chairman of Sama Dubai, said:

“Sama Dubai is investing significant resources and efforts to ensure the infrastructure at ‘The Lagoons’ project is the best of breed. We have been making impressive strides towards the realization of a distinct project that will set precedents and raise the bar for future waterborne developments across the world.”

‘The Lagoons’ is currently making way to open its impressive on-site sales and customer service centre by the fourth quarter of 2008 with the upcoming release of two residential buildings slated for the first half of 2009.

The Lagoons’ will comprise seven beautifully landscaped islands, offering an inspired landscaped surrounding that is enhanced by a plethora of tranquil waterways, peaceful open parks, and green belts, all in a natural habitat setting. The development’s unique features have enabled it to continue attracting interest amidst the surge of real estate projects currently being developed in the UAE and across the region.

Underlining the emirate’s position as a world renowned destination, ‘The Lagoons’ anticipates the growing need in Dubai for a living environment that delivers an unmatched quality of life within a unique natural setting. The development embodies a bold vision of the future while building upon its rich past, where traditional souks and navigable waterways will co-exist with global business houses and boldly designed landmarks in a dynamic environment set amongst a lush, green waterfront.

Eye of Dubai