# Dubai Lagoon URL: https://www.dxbrealtor.ai/projects/dubai-lagoon/ Developer: Schon Properties (Lily, Rowan and Winterberry transferred to Xanadu Real Estate Development in 2017) Area: Dubai Investments Park Home types: Studio to 4 bedroom apartments Updated: 2026-10-06 Schon Properties' 2005 apartment project in Dubai Investments Park. Never handed over, and marked under cancellation on the DLD register in October 2024. ## Key facts - Original handover promise: 2008 (First phase built by Sep 2007; Khaleej Times, 22 Dec 2024) - DLD status: Under cancellation (Since 22 Oct 2024; Khaleej Times) - Planned size: 54 buildings, 4,166 units (Khaleej Times; Propsearch) - Lily zone progress on DLD record: 54.89% (Project 1564, via Dubricks; inspection date not shown) ## When will Dubai Lagoon be handed over? Dubai Lagoon has no handover date. Schon Properties launched it in 2005 in Dubai Investments Park as 54 mid-rise buildings with 4,166 apartments around two man-made lagoons. The first phase sold out within 54 days in March 2006, with construction due to finish by September 2007 and handover by 2008 (Khaleej Times). No building has been handed over since. On 6 October 2024 the project's status on the Dubai REST app changed to cancelled, and on 22 October 2024 to under cancellation (Khaleej Times, 22 December 2024). Data Habibi and some other sites date the change to October 2023, so sources differ on the year. A DLD representative told one buyer that the outcome would be either a transfer to another developer or refunds, and that refunds cannot proceed while the status stays under cancellation. Propsearch's page, updated 1 October 2025, records no later step. Building-by-building dates and how the date has changed: [Dubai Lagoon handover date](/answers/dubai-lagoon-handover-date/). ## Dubai Lagoon construction update Construction never reached completion on any zone. In November 2016 Schon said 200 units were complete and waiting for water and power (The National, 29 November 2016). In August 2019 it said Lotus was 90% complete and due to hand over in June 2020 (The News, 8 August 2019). In March 2022 a buyer told Gulf News the first Lily building was waiting for Civil Defence approval and a building completion certificate. A Lily investor told Khaleej Times in December 2024 that building D20 was complete but had not been handed over, blamed on the lack of an access road. The DLD record for Dubai Lagoon Lily, project 1564, shows 54.89% construction progress, 688 units, eight floors and a construction start of 5 January 2009 (Dubricks, accessed 6 October 2026; the inspection date is not shown). Propsearch gives Lily an estimated completion of September 2020 and a registered project value of AED 167.1 million. ## Dubai Lagoon homes and sizes The plan offered studios to 4 bedroom apartments, from about 400 sq ft to 4,400 sq ft (Data Habibi). The project was split into zones including Lotus, Lily, Rowan and Winterberry. Lotus was planned as eight low-rise buildings, and Schon described Lily as seven buildings with 880 apartments when it transferred it in 2017. The DLD record for Lily lists 688 units. ## Dubai Lagoon prices and resale One buyer told Gulf News in 2021 that he had bought a 1 bedroom at launch for AED 530,000. Another bought a 1 bedroom in Lily as a second buyer in September 2007 for AED 584,250 plus AED 10,000 for parking (Khaleej Times). The DLD still records occasional transfers. On 1 May 2024 a 1 bedroom of 1,383 sq ft in Lotus building C12 changed hands for AED 405,000, and on 20 December 2023 a 516 sq ft studio in Lily building D21 for AED 359,035 (Propsearch). ## Dubai Lagoon payment plan Units were sold off-plan from 2005 on schedules tied to construction. Many buyers paid most or all of the price long before completion: Khaleej Times reported buyers who had paid 75%, 90% and 100%, some encouraged to pay the balance to speed up completion. ## Dubai Lagoon developer and delivery record Schon Properties set and missed a series of dates: 2008, then 2014 for Zone 1 and 2016 for the whole project (Construction Week, 24 February 2014), then 2019 to 2020. In February 2017 it transferred Lily, Rowan and Winterberry, 17 buildings and 1,300 apartments, to Xanadu Real Estate Development, which promised completion by 2020 (The National, 28 February 2017). In August 2018 the DLD moved to seize Schon's property, plots and funds (Propsearch, citing The National). The DLD register lists Town Center Management Limited as Lily's developer. ## What to check before buying at Dubai Lagoon 1. **The DLD status** on the Dubai REST app, since a project under cancellation cannot proceed to handover or refund until it is resolved. 2. **Any court block on the unit**, as Dubai Courts blocked units held under Schon Properties. 3. **Which zone and developer the unit sits under**, Schon or Xanadu, since the 2017 transfer split the project. 4. **Amounts already paid and receipts**, which any refund or transfer will be based on. ## Sources - Khaleej Times, residents and investors in shock as project marked under cancellation, 22 Dec 2024: https://www.khaleejtimes.com/business/property/dubai-residents-investors-in-shock-as-real-estate-project-marked-under-cancellation-after-19-yea - The National, Schon transfers half of Dubai Lagoon project to Xanadu, 28 Feb 2017: https://www.thenationalnews.com/business/property/schon-transfers-half-of-dubai-lagoon-project-to-xanadu-to-expedite-completion-1.29494 - The National, Schon to develop hotel complex in Dubai Investments Park, 29 Nov 2016: https://www.thenationalnews.com/business/property/schon-to-develop-hotel-complex-in-dubai-investments-park-1.199848 - Construction Week, completion date set for 2016 for Dubai Lagoon, 24 Feb 2014: https://www.constructionweekonline.com/projects-tenders/article-26713-completion-date-set-for-2016-for-dubai-lagoon - The News, Schon Properties signs agreement to complete Dubai Lagoon Lotus, 8 Aug 2019: https://www.thenews.com.pk/latest/510183-schon-properties-signs-agreement-to-complete-dubai-lagoon-lotus-project - Gulf News, Dubai Lagoon investors want RERA to take over after 16-year delay, Aug 2021: https://gulfnews.com/business/property/dubai-lagoon-investors-in-schon-properties-project-want-rera-to-take-over-after-16-year-delay-1.1627876124796 - Gulf News, Dubai Lagoon by Schon, first building will soon be ready for handover, Mar 2022: https://gulfnews.com/business/property/dubai-lagoon-by-schon-after-15-years-the-first-building-will-soon-be-ready-for-handover-1.1646280058703 - Propsearch, Dubai Lagoon, updated 1 Oct 2025: https://propsearch.ae/dubai/dubai-lagoon - Propsearch, Dubai Lagoon Lily, updated 7 May 2025: https://propsearch.ae/dubai/dubai-lagoon-lily - Dubricks, Dubai Lagoon Lily (DLD project record), accessed 6 Oct 2026: https://dubricks.com/project/dubai-lagoon-lily - Data Habibi, Dubai Lagoon Lotus, accessed 6 Oct 2026: https://datahabibi.ae/dubai/dubai-lagoon-lotus-dubai-investments-park