A look at an impressive project
A city by itself – that’s one way to describe Dubai Lagoon, an upcoming community set in the charming, tranquil, and luxurious surroundings of new Dubai. Dubai Lagoon will be surrounded by five golf courses, two of which are being designed by golf legend Greg Norman and one by Vijay Singh. Conveniently located within the Dubai Investment Park, it is just 15km from the new upcoming new airport and minutes from two main highways as well as from Dubailand, Dubai Sports City and Dubai Knowledge Village.
Dubai Lagoon, the 3 billion AED high watermark of living is spread over an area of 1.75 million sq ft consisting of 51 buildings with nearly 4,104 apartments. This mammoth project which is targeted towards the middle and higher income segment of the society has witnessed a huge demand with phase one comprising of 21 buildings being completely sold in a short time span of just 54 days. This rapid success is attributed to the revolutionary seven- year financing plan and also because Dubai Lagoon is the first development project to directly target the middle and upper-middle income demographic segment, previously untapped by other developers.
Danial Husain, vice president of Dubai Lagoon said, ‘Being one of the largest private developments in the UAE, we have always leaded the market with revolutionary concepts for customers. Our vision for Dubai Lagoon has always been based on customer needs and requirements which has always attracted buyers, investors and has enhanced our brand name in the construction industry.’
He added, ‘We were the first developer to launch the seven year financing plan, where you only pay 60 per cent and move into your new home. This scheme has now been offered by many developers in Dubai, in simple words we are in a market where we lead and other follow. Every aspect of our project has been designed from a customer’s perspective, from our payment plan to the sapphire lagoon to the commercial offerings, making Dubai Lagoon the best place to call ‘your home in Dubai.’
In addition to well-appointed and good value investment opportunities property buyers can also expect to take advantage of the flexible payment plans which allows the buyer to pay 60 per cent over the initial two years and take possession, with the balance to be paid over the next five years. This makes it economical and affordable to make monthly mortgage payments and own a property rather than paying highly inflated monthly rents. For overseas buyers the apartments are all ownership sub-lease hold title which means that all owners are eligible for family residence visas, subject to UAE immigration rules and regulations.
Danial added, ‘The rapid sale of phase one and two far exceeded our projections and we believe the interest was because of the complete package offered to our buyers. As per our surveys The major attraction, has been the revolutionary financing plan which offers a seven-year financing option allowing purchasers to pay 60 per cent over a 24-month period and the balance over 60 months, in monthly instalments, all at zero per cent interest. The best part of the project is the balance is paid after possession of the apartment, making the purchase even more affordable for customers. Moreover our target audiences have been the middle and upper-middle income segment of the society, a demographic group which has not been catered to in the past. We have achieved soaring success in the past such as phase one of the project, 1752 units, being completely sold out in just 54 days, which stands as a great milestone for our project.’
Dubai Lagoon is a community which is characterised by lush open spaces, stunning walkways and smooth bicycle thoroughfares. The commercial centre will consist of a super market, laundry, world class gym, several swimming pools, sauna, Jacuzzi, squash courts, tennis courts, bowling and mosque which mean residents will have walk able access to all essential facilities within the complex itself.
Moreover the apartments are complete with the finest array of modern amenities - cosy and comfortable, yet elegant and sophisticated. The lagoon itself is fitted with an ozone purification system which will help maintain the sapphire blue colour of the sweet water, which makes it odourless and enjoyable to live around.
Dubai Lagoon is a home you will take immense pride in calling your own and one, which promises an extremely high appreciation value on your investment and is a community you will be proud to call your home.