Dh500m investment announced for ‘The Lagoons’
The national savings scheme of the UAE, National Bonds, recently revealed plans to invest an estimated Dh500 million in the renowned 'The Lagoons', a real estate development in Dubai.
‘The Lagoons,” a waterfront city being developed alongside Dubai's Ras Al Khor Wildlife Sanctuary, is a mixed-use project consisting of up-scale residential and commercial units, master-planned and developed by Sama Dubai.
The prestigious project is being developed by Sama Dubai, according to Gulf News, the international real estate investment and development arm of Dubai Holding.
The National Bonds investment will be funded by capital leveraged from the National Bonds scheme, in line with the company's policy of using funds for the benefit and development of the region.
The news of the National Bonds' investment represents the private company's first foray into the UAE's real estate market.
“’The Lagoons’ presents a viable and attractive investment opportunity for National Bonds,” stated the Vice Chairman and CEO of National Bonds, Nasser Al Shaikh.
“‘The Lagoons’ is a unique development that adds another value proposition to the overall offering of Dubai. As such, it represents excellent investment value ,” he added. The project will be located in Phase II of the ‘The Lagoons,’ and will cover an area of half-a-million square feet.