Dubai Properties Group (DPG), and Emaar Properties, Dubai’s largest developer, have taken the decision to restart ‘The Lagoons’ project on Dubai Creek with construction work likely to restart soon, according to a media report.
Quoting unnamed sources, Arabic newspaper Al Bayan also said that there were plans of building a 1,000m tower in the master development, echoing Alabbar’s recently-expressed interest for a tower in Dubai that would best the Burj Khalifa.
The development will be the second recently-launched initiative by the joint partners after Mohammed Bin Rashid City, which will include the world’s biggest mall, a Universal Studios attraction and a public green space larger than London’s 350-acre Hyde Park.
The previous last word spoken on The Lagoons came from Khalid Al Malik, CEO of DPG, in 2011, when he denied that the estimated $17.4bn project had been cancelled, and that there would therefore be no refund to plot owners.
The 650-hectare Lagoons masterplan outlines seven mixed-use islands with interspersed marinas, detached but linked up by bridges. Groundbreaking and soil-testing began in 2008 under developer Sama Dubai, now merged into the Dubai Properties Group.