Dubai Creek Harbour  

A future city of Dubai. Dubai Creek Harbour (formerly known as The Lagoons) is a large, master-planned water-front development along Ras Al Khor Road. The Lagoons was launched in 2006 and cancelled in 2009 following the financial crisis. The project was revived in 2014 as a joint venture between Dubai Holding and Emaar Properties. Dubai Creek Harbour is the site of The Tower, which will be the tallest building in Dubai when completed in 2020.

Property Types Available: Apartments, Hotels, Hotel Serviced Apartments
Location: Al Khail Road, Ras Al Khor Road
Status: Under Construction, Proposed
Year Launched: 2006
Developer: Dubai Holding
Title Type: Freehold
Height Classification: High-rise
Life Cycle: Under Contruction

Investment Feasibility & Decision Drivers

Snapshot summary for investing in Dubai Creek Harbour

Investment Score

Value for Money
80%
Project Uniqueness
95%
Location & Connectivity
80%
Rental Yield Expectation
60%
Capital Growth Expectation
75%
More information on investment scores

Total Score

Synopsis

Sale Status: Partially sold out. Units available.

Payment Plan: Somewhat investor friendly

Ideal for: End-Users & Investors

Price Range: AED 1,450 PSF - AED 1,670 PSF

Unit Types Available: Hotel, Hotel Serviced Apartment, 1 Bedroom Apartment, 2 Bedroom Apartment, 3 Bedroom Apartment

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What Our Experts Think

In terms of world-class real estate developments, Dubai can boast Downtown Dubai, Dubai Marina and Palm Jumeirah. Over the next 7 - 10 years, Dubai Creek Harbour will also be on that list.

This mega-development will be built in stages over many years. For now investors can buy into the most prime of its locations which is the Island District being developed solely by Emaar. Over the past 24 months, Emaar have launched 4 high-end/luxury real estate developments which have now become even more attractive since the announcement of The Tower (an iconic Eiffel Tower type structure to be completed before the Expo 2020). Investors can purchase 1, 2 and 3 bedroom apartments subject to availability in various towers. Please click the projects tab in this section to explore more.

- Updated Oct 17th, 2016.

Ground breaking ceremony for The Tower at Dubai Creek Harbour

 Published on Oct 11 2016   361 Views   More Videos

 Source: Emaar

 Category: Construction Progress

Official video highlighting the ground breaking ceremony for The Tower at Dubai Creek Harbour.

About Dubai Creek Harbour

Recap Pre- 2013

In 2006, Sama Dubai, the real estate investment arm of Dubai Holding announced the launch of The Lagoons - a mega project located along Ras Al Khor Road covering some 70 million sq. ft. of land. The freehold project initially had a goal of developing 50% of the project by Sama Dubai itself, while the remaining 50% of sellable land (as per masterplan) would be sold to investors allowing them to launch projects within the community's bylaws (much like what we have witnessed in Dubai Marina and Business Bay). The project's land also includes the Ras Al Khor bird sanctuary which would remain a protected wildlife area. The overall masterplan called for a total of about 100 residential towers spread over 7 islands.

In May & June 2006: Sama Dubai began selling plots to developers in Phase 1 & 2 of the project.

In November 2006: Sama Dubai announced the launch of the Dubai towers (also known as the Dancing Towers) which were a group of four towers ranging between 54 and 97 floors. This project was set to be the stand-out development of The Lagoons but was put on-hold after the 2009 real estate crash. As we understand, this project is now cancelled and will be re-designed.

Between 2006 & 2008: The Lagoons basic infrastructure began to take shape but always lagged behind the timelines set by the master-developer. The project never gained enough traction, even though some developers began announcing projects within the community (which for the most part were sold out). In mid-2008, senior Sama Dubai executives were indicted on corruption charges.

After the real estate crash of late 2008, Sama Dubai announced large scale redundancies and pulled back the overall project. Many investors who had already purchased properties within the community (both through Sama projects and with private developers) were left in limbo. Starting in 2010, some investors were able to get back their money after a 30% deduction. Other investors were relocated to other continuing projects in Dubai by means of credit notes. In essence the overall project was cancelled.

Post 2013

In 2013 Dubai Holding & Emaar Properties announced their intention to revive the project. The master-plan of the community has since been redrawn. The project was renamed Dubai Creek Harbour (previously known as The Lagoons).

In October 2014: Emaar Properties announced the launch of the first project in the community - The Dubai Creek Residence, which is part of the island that will now be known as the Dubai Creek Harbour.

Also in October 2014: Emaar Properties & Dubai Holdings announced a plan to launch the world's tallest twin towers within the Lagoons project. This was later scrapped, and in its place The Tower was launched (see below).

September 2015: Emaar Properties launches Creekside 18, a twin tower high-rise development consisting of 1, 2 and 3 bedroom apartments. Creekside 18 is located adjascent to the Dubai Creek Residence.

June 2016: Emaar unveils The Tower at Dubai Creek Harbour, which will be the center-piece of the community and taller than the Burj Khalifa. This iconic structure will be completed before the opening of Expo 2020.

Sep 2016: A fourth residential project called Creek Horizon was launched in the Island District.

A closer look at the master-plan

- Dubai Creek Harbour is no ordinary development; it is a metropolis within itself which will be developed over a period of at least 15 - 20 years. This is a project which has a larger land area than Dubai Marina, Downtown Dubai or Business Bay.

- As of October 2016, the only developments are taking place on the Island District where Emaar have launched a series of residential towerrs.

- At the center of the 'Urban Core' (see below) is where Dubai's new tallest structure will rise (The Tower at Dubai Creek Harbour)

- The Island District is currently connected to the mainland but will eventually become an Island connected to the 'mainland' by at least three bridges as per the master-plan.

- As for now, all developments being launched are solely by Emaar. It remains to be seen whether other private developers will be able to purchase land to launch projects in other parts of the overall community.

Positives of Dubai Creek Harbour

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