The Lagoons Overview
Lagoons is a huge land development project located on the banks of the Dubai Creek between Dubai Festival City and Ras Al Khor. The project was initiated in 2005 as part of the Mohammed Bin Rashid (MBR)City master plan but was disrupted by the global financial crisis of 2008. As a result of the crisis the original developer, Sama Dubai, a division of Dubai Holding, was taken over by the parent company and merged into Dubai Properties Group, Dubai Holding’s property arm.
In 2013 Dubai Holding struck a deal with the developer Emaar and relaunched the project in a redesigned form. Emaar would develop first phase of The Lagoons project, a new 6.5 million square metre urban district at Ras Al Khor to be known as ‘Dubai Creek Harbour’, a mixed-use development featuring The Dubai Twin Towers, Dubai Creek Residences, cultural amenities, educational facilities and healthcare centres.
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The Lagoons History
The Lagoons project was launched in April 2006 and ground work started at the same time. The developer, Sama Dubai, a division of Dubai Holding, announced a completion date of 2010.
Sama Dubai would develop and market half of the overall project, and sell half the land to other developers. Properties were to be freehold with 100% ownership for expats and Emiratis.
The Phase I land plots were sold out by May 2006 and the Phase II plots, which went on sale in May 2007, were sold out by October of that year.
The first three towers - Al Abeer, Al Khayal and Al Laylak in the Al Sedaifa district - were reportedly sold out soon after launch in October 2007.
However, reports in 2008 and 2009 indicated that development had stopped, and by September 2009 construction appeared to have been suspended.
Deyaar Development, responsible for the Flamingo Creek project in The Lagoons, said in their second quarter financial report that "The management now believes that the master developer may not complete the related infrastructure and therefore, the project may have to be abandoned".
Sama Dubai was merged into Dubai Properties Group, Dubai Holding’s property arm, and in 2011 its CEO announced that the project was still under development and had not been scrapped.
In May 2013 Dubai Holding confirmed the relaunch of the revamped project having struck a deal with Emaar to revive the massive Lagoons development.
In June 2013 Emaar Properties announced that it was in the final stages of negotiations with Dubai Holding to develop Dubai Creek Harbour, a new 6.5 million square metre urban district near Dubai Creek at Ras Al Khor and part of The Lagoons project. The firm said that the project would contain a new central business district and a mix of cultural, commercial, technology, educational, healthcare, sporting, shopping and entertainment attractions. It would also contain a number of residential units in buildings designed around a series of lagoons and green boulevards.
No plans have been announced for other parts of The Lagoons project.
The Lagoons Communities
We currently maintain records for 14 sub-communities in The Lagoons.
The Lagoons Buildings
We currently maintain records for 25 building developments in The Lagoons.
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