Dubai Lagoon
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Dubai Lagoon located in Dubai, U.A.E was launched to purchasers. Dubai Lagoon comprises 53 residential buildings. The total project development is valued at three billion UAE Dirhams. Phase one sees 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 bedroom, 3 bedroom and 4 bedroom. Targeting the middle to high middle income class, all buildings have lagoon views, and with over 75% of the total land used for landscaping and the lagoon itself, the development promises to offer residents charming, tranquil and luxurious surroundings.
One of the most remarking features of Dubai Lagoon is the revolutionary financing behind it for private purchasers. A special 7 year finance plan is available, allowing purchasers to pay 50% 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. Dubai Lagoon is owned and developed by Dubai based Town Centre Management Ltd. who are sponsored by His Excellency Nasser Abdulla Hussain Lootah, the chairman of NASA Group. Town Centre Management Ltd. is owned by Pakistani business tycoons, H.E. Tahir Schön and Nasir Schon.
Phase 2 was launched on April 29th, 2006, with entrepreneurial creativity. The developers are offering buyers a choice of a free Chevrolet car, Pan-Emirates furniture, or a cash discount ON BOOKING. Conventional developers always offer such incentives upon final payment to ensure proper payment. Being one of Dubai's most successful and fastest-selling real estate projects, the developers at TCML have done a magnificent job at setting new standards for the Dubai real estate market.
Dubai Lagoon, the high watermark of living, announced a turnkey contract with Daewoo DSME Construction Co., Ltd. and Sunjin Civil and Architecture (C&A) Company of South Korea, a joint venture which will commence construction work by August 1, 2006.
