Dubai Lagoon is a residential community complex being built at the Dubai Investments Park (DIP), which is located near to the Green Community on Emirates Road. The AED 3 billion (US$ 830 million) freehold development project will be spread over 1.75 million square feet (162 thousand square meters) and contain 53 low-rise apartment buildings in 8 different shapes.
Dubai Lagoon's 4,166 units are targetting the middle to high middle income class, with either studio, 1, 2, 3 and 4 bedrooms. Over 50% of the development will be utilised by the lake/lagoon and landscaping, providing each apartment with a view of the lagoon. The first phase of development will be completed by September 2007, wherein 21 six-storey and eight-storey buildings will be completed.
Dubai Lagoon has a unique 7-year payment plan, where purchasers will pay 50% of the unit before moving in, and the remaining amount in equal monthly installments over 5 years. Dubai Lagoon was master planned and designed by Artec.
