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Dh3b Dubai Lagoon project launched

DUBAI — Dubai Lagoon, the Dubai Investments Park residential community complex, was launched to retail residential purchasers yesterday.

Dubai Lagoon comprises 53 residential buildings. The total project development is valued at Dh3 billion. Phase one has 21 ground plus six and ground plus eight buildings for sale with a completion date of September 2007.

Dubai Lagoon comprises 4,166 units — studio, 1 bedroom, 2 bedrooms, 3 bedrooms and 4 bedrooms. Targeting the middle to high middle-income class, all buildings have lagoon views, and with over 75 per cent of the total land used for landscaping and the lagoon itself, the development promises to offer residents charming, tranquil and luxurious surroundings.

Sonia Husain, Executive Director of Dubai Lagoon said: "Located close to Dubailand, Global Village, Sports City, and the new airport, Dubai Lagoon offers the very best for those who demand the ultimate in contemporary living."

"Near the Green Community, with easy access to two main highways, a school and a university, two five star hotels, three new championship golf courses and a new free hold zone business park, Dubai Lagoon boasts the perfect location," she maintained.

"This is an ideal place to live, with expansive water views of the lagoon, lavish landscaped gardens and a proposed golf course surrounding the development. The commercial centre will consist of a super market, laundry, world class gym, several swimming pools, sauna, Jacuzzi, squash courts, tennis courts and a mosque," she explained.

Dubai Lagoon is situated in Dubai Investments Park with easy access to Shaikh Zayed Road and the new Emirates Road.

Financing: A special 7-year finance plan is available, allowing purchasers to pay 50 per cent over a 24-month period with the balance to be paid over 60 months in equal monthly instalments, without any loan, mortgage, or post dated cheques.

Also suitable for investors, the financing allows purchasers to sell to a third party upon payment of 1st instalment.

In addition, all apartments are ownership sub-lease hold title, which means that all clients are eligible for family residence visas, subject to UAE immigration rules and regulations.

Developers: The project is being developed by Dubai based Town Centre Management Limited who are sponsored by Nasser Abdulla Hussain Lootah, the chairman of NASA Group.