Lagoons investors offered alternative deal

The National newspaper reported yesterday that investors in The Lagoons development have been offered alternative properties at Jumeirah Beach Residence by developers Sama Dubai.

Sama Dubai is a subsidiary company of the government-owned Dubai Holding group. Jumeirah Beach Residence was built by Dubai Properties, another subsidiary of Dubai Holding.

In August 2009 Dubai Holding merged the operation of Sama Dubai, Dubai Properties, and another company; Tatweer.

The Lagoons project is currently on hold.

Tags: Dubai Holding, Dubai Properties Group, Jumeirah Beach Residence, Lagoons, Sama Dubai, Tatweer