Emaar, Dubai Holding relaunch mega property project | Reuters:
"* Project first unveiled in 2008
* Then stalled by Dubai property slump
* Totals 6 million square metres in size
* No details on financing, completion date
* Two other big projects announced in Dubai today
By Matt Smith
DUBAI, Oct 7 (Reuters) - Emaar Properties and Dubai Holding, a conglomerate owned by the emirate's ruler, have joined forces to restart work on The Lagoons, a giant real estate project that was first announced in 2008 but then stalled by Dubai's property crash.
The 6 million square metre development will feature a business district, residential units and hotels, the companies said in a statement on Monday.
They gave few other details, and did not say how the project would be financed or when construction would be completed."
'via Blog this'
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