Article:
ISSUE No.7 November - December 2007

The World
Four years after its launch

Four years after the launch of “The World” most of the 300 islands of the mega project are taking shape. Situated 4 kilometers off the coast of Dubai and measuring 9 kilometers wide and 7 kilometers long, the iconic project is regarded as one of the most ambitious construction undertakings of modern times.

The World - a project by Nakheel, the largest privately-held property developer in the UAE - is 94 per cent reclaimed, while 45 per cent of the islands have been sold already. By completion it will cover approximately 931 hectares and will add an additional 232 kilometers of beachfront to Dubai’s coastline by using over 320 million cubic meters of sand to form the islands. The development covers 9.5 million square meters and is visible to the naked eye from space. Only by March this year, the island Ireland was sold for AED 142 million to the Irish developers John O’Dolan, Noel Conellan, Ray Norton and Andrew Brett. According to plans, Ireland will be a resort with a collection of homes, apartments, restaurants and retail stores amidst beaches, boating and leisure opportunities.

Last year it was Sir Richard Branson who staked his claim to Great Britain on the World. Branson jumped out of a red London telephone box and surprised journalists as they arrived for a private tour of the island. “The World is one of the most innovative developments I have ever seen and I admire the vision behind the project” stated Branson. Germany has also been sold but the new owner wants to remain secret. But becoming the owner of a piece of The World is not easy. In that case, it is not only the money that counts. Interested buyers have to come up with a well thought out concept to be chosen among other interested parties.

Also Nakheel announced that it is developing the first island on the World, called Coral Island, a super-luxury resort on the north coast of Canada. “The words exclusive and luxury can be overused in the property market, but what will be on offer on Coral Island will truly be unprecedented in Dubai or anywhere else. Where else can you relax on more than 9 kilometers of unspoilt beach on an island where there are no roads. The hotel and leisure offer will ensure that this is very much an island for Dubai – a perfect island retreat to get away from the hustle-and-bustle of city life,” claimed Hamza Mustafa, General Manager of the World. Coral Island will be located across 20 connected islands in the North American region of the World. It is planned to be one of the most prestigious developments, consisting of three main elements including a marina village, a specialist spa hotel and residential developments. The island will also feature high-end real estate as beach villas, townhouses and water homes. Although there will be no more than 300 units. Sales for the project are scheduled to launch this year.

Nakheel’s general aim is to redefine the concept of property development whether residential, tourist, commercial or retail. Nakheels portfolio in the UAE currently includes the Palm, The World, Jumeirah Islands, The Gardens, Ibn Battuta Mall, Jumeirah Lake Towers, Jumeirah Golf Estates, International City, Discovery Gardens, Jumeirah Village, Jumeirah Park and Dubai Waterfront.

More information: www.theworld.ae