The sale of the second phase of the 70 million square foot 'The Lagoons' development project was announced earlier this week by Sama Dubai, the real estate investment and development arm of the Dubai Holding company.
The Dubai Creek waterfront 'The Lagoons' development will be created as an extension of the Dubai Creek in a series of interconnected islands near the heart of Dubai, according to Khaleej Times.
Offering a unique environmental living experience within the lush island sanctuary, the new mixed-use development project is located near the Ras Al Khor Wildlife Sanctuary.
A senior executive from Sama Dubai stressed his confidence in the success of the unique new project.
"We are confident of the continued high level of demand for 'The Lagoons', as illustrated by the swift selling out of phase one of the project," said the CEO of Sama Dubai, Farhan Faraidooni.
"Our certainty in the continuing level of demand stems from the investment value that 'The Lagoons' presents to interested buyers. The positive and enthusiastic feedback we have received from investors, developers, and end-users alike demonstrates their commitment to be a part of this distinctive development that is currently witnessing a remarkable transformation into a one-of-a-kind location in the city," Farhan added.