Dubai Lagoon:

• A neighborhood of apartments with 54 mid-rise buildings surrounding two artificial lagoons in Dubai Investments Park.
• Dubai Lagoon is located in Dubai Investments Park
• Dubai Lagoon is an area situated within Dubai Investments Park, Jebel Ali District, Dubai.
• Dubai Lagoon is being developed by Town Centre Management Ltd, Schon Properties, and Xanadu Real Estate Development.
• The architectural consultant of Dubai Lagoon is Aroom Architects & Consultants.
• The main building work of Dubai Lagoon is being done by Dubai Civil Engineering and PGS Gulf Contracting.

The property's apartments were sold "off-plan" before the building started. The Dubai Roads and Transport Authority, who were designing the new metro and highways connecting the city to the Expo 2020 site and the new Maktoum Airport, immediately withheld permission to build while they sought to acquire a portion of the land on which Dubai Lagoon was to be constructed for road building.

The cost of materials rose as Dubai's construction boom advanced, and contractors were hit with rising expenses. Over time, defaulting and accepting fines turned out to be less expensive for the contractor than trying to haggle with Schön Properties. As the effects of the global financial crisis set in and investors started to make a default, the developer found himself under a mountain of debt.

The Dubai Real Estate Regulatory Agency (RERA) was established and started responding to investor complaints in 2008. The developer was successfully sued in Dubai courts by a disgruntled investor in Dubai Lagoon the following year.

The developer reaffirmed time and time again that the work would be finished, however, the handover dates shifted from the initially anticipated 2007 to 2016. After selling a portion of the incomplete project to another developer in 2017, the Dubai Land Authority seized Schön Developments' assets, land plots, and money, leaving just the six apartment building shells as a reminder of the 53-building project. The abandoned site of "one of the best master development communities in Dubai" will still be there in 2021, bearing witness to this tragic tale. The developer kept his pledge to deliver the buildings despite the ensuing delay.