Sama Dubai launches 'The Lagoons'- a 70 million square foot Dubai Creek waterfront project
Sama Dubai, the international real estate investment and development arm of Dubai Holding, announced today the launch of its spectacular new waterfront project 'The Lagoons', on the Dubai Creek.
United Arab Emirates: 2 hours, 51 minutes ago
Sama Dubai launches 'The Lagoons'
The 70 million square feet 'The Lagoons' is expected to catalyze Dubai's position as an international destination offering a perfect retreat for residents looking for the highest possible quality of life within a true metropolitan environment. The project considers environmental living as a core principle that is manifested throughout the development to ensure harmonious existence with the surrounding ecosystems.
HE Mohammad Al Gergawi, UAE Minister of State for Cabinet Affairs and Executive Chairman of Dubai Holding said:
"'The Lagoons' project is one of the biggest real estate projects being undertaken and is aimed at creating a unique development that adds another value proposition to the overall offering of Dubai in the regional and international arena.'
'His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai has identified tourism and real estate as a key driver of growth. We are committed to providing a superior lifestyle option in Dubai and the UAE that matches with the best in the world. 'The Lagoons' will reinforce and strengthen the positioning of the UAE and particularly that of Dubai as the international centre of business, trade and tourism', added Al Gergawi.
'The Lagoons' is one of the first projects in Dubai to undertake a comprehensive Integrated Environmental Impact Assessment (EIA) following international standards across all phases of the project.
It will offer freehold property with 100 per cent ownership to all nationalities. Half of the project will be sold to third party investors as land plots for development. The remaining 50 per cent of the area will be developed, marketed and operated by Sama Dubai.
The project will be spread over an area of 70 million sq. ft.
'The Lagoons' will have seven beautifully landscaped islands, comprising of residential units, shopping centers, office buildings, and marinas. These detached islands will be interlinked with bridges. The project will also incorporate a unique work environment with its own Central Business District (CBD), where multi-nationals and regional corporations can establish their headquarters.
Strategically located in the heart of Dubai, 'The Lagoons' will be a masterful combination of proximity to the necessities of city life while offering a haven of seclusion and natural splendour.
Commenting on the unique nature of the project, Farhan Faraidooni, CEO of Sama Dubai said: 'We are proud that 'The Lagoons' is our first project in Dubai. The project is distinguished by its unique features that make it the first of its kind project in the UAE. Also it is one of the first projects in Dubai to develop an Environmental Policy Statement and Principles to ensure that environmentally responsible developments are carried out.'
He added, 'Ensuring environmental safety is one of the fundamental strategies of Sama Dubai, especially under 'The Lagoons' project.'
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 and Wildlife Protection Office (WPO)-Dubai has been ongoing and the project's environmental excellence is a cornerstone of the development.
In addition to the natural surroundings and in line with the project's promise of an idyllic living experience, residents will have culture on their doorsteps in the form of Dubai's first Opera House, designed by an internationally acclaimed architect. Other cultural elements will include a Planetarium, Museum, Art Center and Theater.
The project will also include themes of environment, conservation, parkland and open spaces; boardwalk; resorts; marinas; five-star hotels; commercial towers with large office spaces; bicycle and jogging tracks; malls and souks on water front; high-end villas and uptown apartments.
'The Lagoons' is a project that anticipates and answers the growing need in Dubai for a living environment that delivers an unsurpassed quality of life. The development harnesses the existing beauty of its location on Dubai Creek yet will provide residents with access to all of the necessities of metropolitan living. This is a limited edition, low density ratio project about which is already receiving a tremendous amount of positive feedback,' Faraidooni said.
'Sama Dubai is working in cooperation with Dubai Municipality to explore ways to protect and enhance the wildlife sanctuary in Ras Al Khor to ensure that The Lagoons and the sanctuary are fitting neighbours. The Lagoons will offer the unique setting of being located next to the internationally important wildlife sanctuary with spectacular views and vistas,' said the CEO of Sama Dubai.
Access to inter-emirate and international travel is also convenient. The finalization of a new and more advanced bridge close to 'The Lagoons', currently being planned by the Dubai Roads and Transport Authority (RTA), will ensure smooth traffic to and from the development.
Residents and visitors will be able to enjoy spectacular views across the Dubai Creek. It will also offer unparalleled leisure opportunities along with a healthcare and therapy centre and vast areas of landscaped gardens and parks.
'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 diverse and multi-cultural character and add to the development of its residential and tourist population, which are catered to by over 50 shopping malls and retail arcades.