Plans Crystallise For Lagoon At Centre Of Dubai
Work on the Crystal Lagoons — to be the world’s largest man-made one of its kind and right in the centre of Dubai city — will be developed in phases at the District One development in Mohammad Bin Rashid Al Maktoum (MBR) City.
Stretching across 7 kilometres and covering 90 acres within the 1,100-acre spread of District One, Crystal Lagoons will have a minimum width of 40 metres and a maximum depth of 2.5 metres. District One — launched in mid-2013 as the first project at MBR City — is being developed through a 50:50 joint venture between Sobha Group and Meydan.
“Rather than take up the Lagoons’ construction in the latter phase of the overall project, our choice has been to create stretches within each of the phases, with delivery starting by late 2016,†said P.N.C. Menon, Chairman of Sobha Group. “It creates a beachfront in the heart of the city with lush green landscaping and a 14-kilometre boardwalk.â€
The development cost of Crystal Lagoons and that of District One has not been revealed.
Meanwhile, sales of the super-premium villas — forming the second round of release — are on the cusp of being sold out, and repeating what the earlier round had attained. A third round could be released later in the year.
The launch prices for the first release of units — in mid-2013 — were upwards of Dh12.5 million for a four-bedroom unit, while that for an eight-bedroom unit it was Dh60 million and over. (These are scheduled for handover beginning mid-2016.)
The subsequent release had a markup on the initial pricing, a strategy that the developer intends to follow on future ones too. In all there will be 1,500 villas across all phases. But 60 per cent of the total area available will be used up by green and open zones.
Emirate: Dubai
Date: May 28, 2015
Back