Skip to content Skip to Search
Skip navigation

Damac expands Dubai Lagoons development

By Pramod Kumar
Damac Lagoons project Damac Properties
The new cluster will have a concert stage inspired by the Moroccan city of Chefchaouen

Damac Properties has launched the second phase of the Morocco cluster at Lagoons, its third master development in Dubai, as part of a portfolio of 11 Mediterranean-themed clusters. 

The developer said in a statement that the second phase of the Morocco cluster will house townhouses and villas.

The development cost of the new phase and construction timelines were not disclosed.

The cluster will have a concert stage inspired by the Moroccan city of Chefchaouen, where residents can browse an outdoor library, or explore the arts and crafts studio.  

Located adjacent to the Damac Hills master development, the Lagoons covers an area of 45 million square feet. 

In March, Damac awarded multiple contracts for consultancy services for the Damac Lagoons master development.

It awarded the main construction contract worth AED886 million ($241.22 million) for its 71-storey Cavalli Tower in Dubai Marina to China State Construction Engineering Corporation in February.

Latest articles

PIF's Starbucks shareholdings were cut almost by half from 6.3 million shares to 3.8 million

PIF slashes Starbucks stake as it cuts US stocks by $15bn

Saudi Arabia’s Public Investment Fund (PIF) has slashed its US equity holdings by 42 percent to $20.6 billion, including its stake in Starbucks, the global coffee chain that has suffered calls for a boycott as a result of the Gaza conflict. The latest US government data highlights funding challenges facing the Saudi giga-projects.  The filing […]

Tunisia olives

Soaring olive oil exports help Tunisia balance books

Tunisia’s soaring olive oil exports have almost doubled to close to $1 billion in just five months, helping it claw back its current account deficit.   However the increased revenues merely “paint over the cracks” and the country is still probably heading towards a sovereign default, according to an economic expert. Tunisia’s current account deficit narrowed […]

Iraqi prime minister Mohammed Shia Al-Sudani attends licensing rounds for 29 oil and gas exploration blocks at the oil ministry's headquarters in Baghdad

Falling oil prices deepen Iraq’s fiscal imbalances, says IMF

Iraq’s fiscal imbalances have worsened due to significant fiscal expansion and lower oil prices, according to the International Monetary Fund (IMF). “The ongoing fiscal expansion is expected to boost growth in 2024 at the expense of a further deterioration of fiscal and external accounts and Iraq’s vulnerability to oil price fluctuations,” the Washington-based fund said in […]

Saudi aluminium producer Talco is offering 12 million shares

Aluminium producer Talco announces Saudi IPO

Aluminium producer Al Taiseer Group Talco Industrial Company (Talco) is the latest entity to reveal initial public offering (IPO) plans in Saudi Arabia. The Riyadh-based company, which was set up in 2009, is offering 12 million shares, a 30 percent stake, on the Saudi Exchange (Tadawul) at a nominal value of SAR10 ($2.67) per share. […]