Dubai Holding, Emaar Properties sign JV to develop the Lagoons

Dubai Holding, Emaar Properties sign JV to develop the Lagoons

Project to showcase the Dubai Twin Towers

Project to showcase the Dubai Twin Towers

Dubai Lagoon1Dubai Holding and Emaar Properties PJSC have inked a joint venture agreement to develop The Lagoons within Mohammed Bin Rashid City (MBR City).

A master-planned city for tomorrow is spread over an area of six million sq metres (over 1,482 acres). The project will bridge modernity with tradition.

In a joint statement, Mohamed Alabbar, chairman of Emaar Properties, and Ahmad Bin Byat, chief executive officer of Dubai Holding, said: “His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, constantly reminds us that Dubai has achieved less than 10% of its development potential. Dubai has always been a forward-looking city, and we look forward jointly to launch projects that are important to boost the city’s future development.”

The project will be a new catalyst for growth and create robust opportunities for commerce and entrepreneurship. At the heart of the project is The Dubai Twin Towers, a mixed-use iconic development that defines a new skyline for the city, and is envisaged to join the rank of the world’s skyscrapers.

The fully integrated community will have a central business district, an entrepreneurial zone, cultural amenities, residences, premium and affordable luxury hotels, educational facilities, healthcare centres, a waterfront shopping mall and a wide range of leisure choices.

The ‘green’ theme will further resonate in several environmental-friendly features including eco-resorts, water features, and gardens. A number of small marinas will also be developed across the waterfront.

Gary Marshall
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Gary Marshall
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