Crystal Lagoons signs US$1.7 billion deals at Cityscape Global

Press release
Published December 26th, 2010 - 04:12 GMT
Fernando Fischmann, creator and owner of Crystal Lagoons Corp.
Fernando Fischmann, creator and owner of Crystal Lagoons Corp.

Crystal Lagoons Corp, the world's first crystalline lagoon developer, signed deals worth US$1.7 billion at last week's Cityscape Global in Dubai to build new lagoons in Oman, Turkey and India.

The biggest of the three projects, worth US$500 million will be constructed near Muscat, Oman, in conjunction with Alargan, one of Kuwait's leading developers. In addition to a seven hectare lagoon, the site will also feature three hotels, 400 villas and 800 apartments.

Separately, the company is planning a four hectare lagoon as the centrepiece of the US$450m "Olivian" luxury development in Turkey comprising 2,000 villas and an 18-hole golf course.

They ended a successful week at Cityscape Global, an integral part of the world's largest business-to-business property investment and development event brand, which was held at the Dubai World Trade Centre, by signing a US$800m contract to build a six hectare lagoon in the Amby Valley, South of Mumbai.

"Like all our sites, these projects add value to the land as we are turning predominately desert locales into premium land. Everyone talks about location, location, location but that doesn't apply to this initiative because these projects will change the real estate industry in every locale they are built," said Fernando Fischmann creator and owner of Crystal Lagoons Corp.

"This is the first time we have attended Cityscape since the company launched three years ago but it has been a worthwhile investment. We have signed some major deals, which will see us enter new markets and provide a boost to the local economies in each area."

Crystal Lagoons Corp. recently announced its US$5bn project in Sharm El Sheikh, Egypt, will overtake the one in Chile to become the largest swimming crystalline lagoon in the world when it is inaugurated next year. Besides this 12 hectare lagoon, the project features another 10 giant lagoons that in total hold more than 100 hectares of crystal clear water in the middle of the desert. The first lagoon will be inaugurated in early 2011.

Despite the scale of the schemes, each one focuses on the environment, as they are filled with brackish water taken from shallow wells in the desert.

"In addition to the water source, all of our projects use 50 times less energy than normal water filtration systems and 100 times fewer chemicals than those used to treat tap water," added Fischmann.

The company, founded in 2007 in Chile, has 50 projects underway across the Middle East and 150 completed or under construction around the world. Other sites in the MENA include Amer Group's Soma Bay, in Hurghada, a US$1.2bn investment that will be operational in 2012, and the US$250 million "Dead Sea Lagoon" in Jordan, built in association with Sama Jordan, owned by the Bani Hani family. The 4.5 hectare crystal clear lagoon is expected to attract a wider tourist variety and will be finished halfway through 2011.

Meanwhile, iIn Dubai Crystal Lagoons is close to completing the first stage of the ground breaking US$1.2 billion, Dubai Lagoons project, located in Downtown Dubai. It will construct, maintain and provide technical support for initially a pilot lagoon, before the end of 2010, prior to taking responsibility for all of the main water features through the development. 

Background Information

Crystal Lagoons

Crystal Lagoons® is a multinational company with offices and locations around the world. They have developed and patented state-of-the-art technology that allows them to build and maintain crystalline lagoons of unlimited sizes at low costs, offering an idyllic beach lifestyle anywhere in the world. 

Cityscape Global

Cityscape Global is the largest and most influential real estate investment and development event for emerging markets globally. Register your interest to visit  and enjoy access to exclusive offers, networking opportunities and educational sessions.

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