Work on private projects at The World to begin soon
Friday, January 29, 2010
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Nakheel has confirmed that construction would soon commence on its off-shore island development, The World.
The confirmation about the beginning of the work began when the European developer, Major Trade, announced commencement of work on its island project. Ground works, including soil testing have begun and reclaiming of the island plot and vibro-compaction will begin in February 2010, the Company said.
The Kliendienst Group last month announced that it would begin construction on its Germany Island, part of the Dh.3.1bn Heart of Europe development.
The Managing Director of Nakheel, Marwan Al Qamzi said that The World is an attractive project, given its differentiated offering and close proximity and accessibility to developing markets.
The Arabian architectural and cladding specialist, Arabian Profile Company Limited and Canadian Gulf Construction have been engaged to carry out construction work on the development. The logistics for the project will function out of The World Construction Logistics Port located at Mina Rashid, operated by Penguin Marine Boats Services.
The Managing Director of Major Trade, Viktor Herceg, expressed confidence that on completion of the project, it will generate huge demand for luxury residences. He added that Nakheel has been very supportive as the company has been striving to develop its first island development.
Located at the tip of the Greenland area of The World, the island includes a modern residential villa development and a luxury boutique hotel.
Major Trade is the real estate development investment arm and special purpose vehicle for a mid-sized European residential property developer, particularly responsible for luxury, and high-end developments in Dubai.
The work will begin on as many as 20 islands this year, Nakheel confirmed. The buyers have revised few of their initial designs taking into account the economy, and are now moving ahead with their construction works.
The confirmation about the beginning of the work began when the European developer, Major Trade, announced commencement of work on its island project. Ground works, including soil testing have begun and reclaiming of the island plot and vibro-compaction will begin in February 2010, the Company said.
The Kliendienst Group last month announced that it would begin construction on its Germany Island, part of the Dh.3.1bn Heart of Europe development.
The Managing Director of Nakheel, Marwan Al Qamzi said that The World is an attractive project, given its differentiated offering and close proximity and accessibility to developing markets.
The Arabian architectural and cladding specialist, Arabian Profile Company Limited and Canadian Gulf Construction have been engaged to carry out construction work on the development. The logistics for the project will function out of The World Construction Logistics Port located at Mina Rashid, operated by Penguin Marine Boats Services.
The Managing Director of Major Trade, Viktor Herceg, expressed confidence that on completion of the project, it will generate huge demand for luxury residences. He added that Nakheel has been very supportive as the company has been striving to develop its first island development.
Located at the tip of the Greenland area of The World, the island includes a modern residential villa development and a luxury boutique hotel.
Major Trade is the real estate development investment arm and special purpose vehicle for a mid-sized European residential property developer, particularly responsible for luxury, and high-end developments in Dubai.
The work will begin on as many as 20 islands this year, Nakheel confirmed. The buyers have revised few of their initial designs taking into account the economy, and are now moving ahead with their construction works.
Labels: Luxury Homes, Nakheel, The World
Construction likely to commence this year on Nakheel's Greece project
Wednesday, February 27, 2008
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The Island of Greece, in Nakheel's mega project, 'The World', will turn out to be a luxurious boutique resort, with construction due to commence in December 2008.
Speaking during the launch of Greece, Baron Jean Van Gysel de Meise, said "The World is an ideal location as it is a little haven located away from the stress of Dubai."
Spread across 45,000 square feet of space, Greece will have 65 units on the whole, worth about $170 million, and an estimated sales value of $200 million. Investors will be given access to the property for two months in a year. They will also receive 50% of the gross revenue of the property for the remaining 10 months.
According to Van Gysel, the construction will begin next December and the hotel would be open by 2010 December. He said, V…..Greece on 'the World' would be the launch-pad for boutique brands in the GCC, as other projects are currently underway in Oman and Abu Dhabi. The resort will have a marina that spreads across 1000 foot, with moorings for 16 private boats, apart from several restaurants and a spa.
Van Gysel said "Service in Dubai is not up to the mark, in comparison to the five-star services that one experiences in other parts of Europe. V….Greece aims to be a benchmark for service in Dubai."
Speaking during the launch of Greece, Baron Jean Van Gysel de Meise, said "The World is an ideal location as it is a little haven located away from the stress of Dubai."
Spread across 45,000 square feet of space, Greece will have 65 units on the whole, worth about $170 million, and an estimated sales value of $200 million. Investors will be given access to the property for two months in a year. They will also receive 50% of the gross revenue of the property for the remaining 10 months.
According to Van Gysel, the construction will begin next December and the hotel would be open by 2010 December. He said, V…..Greece on 'the World' would be the launch-pad for boutique brands in the GCC, as other projects are currently underway in Oman and Abu Dhabi. The resort will have a marina that spreads across 1000 foot, with moorings for 16 private boats, apart from several restaurants and a spa.
Van Gysel said "Service in Dubai is not up to the mark, in comparison to the five-star services that one experiences in other parts of Europe. V….Greece aims to be a benchmark for service in Dubai."
Nakheel's 'The World' enters final stage of construction
Monday, January 21, 2008
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Nakheel, one of the largest property developers of the world, has entered the final stage of construction of The World islands in Dubai, completing the entire project in five years from the date of announcement.
The final stone that was laid was 34 million tones of rock, which was used in constructing 27-kms breakwater, which surrounds the 300 man-made islands that make up The World. The last rock was placed by Hamza Mustafa, the Director of The World, completing the first phase of one of the most sophisticated real estate development projects in the world.
The next phase of the project is to handover the islands to their developers for construction and the building of infrastructure. The cost of the islands range from $15 to $50 million, although, at present, each island costs about $250million.
The World Islands are a collection of man-made islands shaped in the form of continents of the world, located off the Dubai coast in the UAE. It consists of small individual artificial islands, divided into four categories - estate homes, private homes, dream resorts and community islands. The Formula 1 World Champion, Michael Schumacher, owns an island in The World Island.
The final stone that was laid was 34 million tones of rock, which was used in constructing 27-kms breakwater, which surrounds the 300 man-made islands that make up The World. The last rock was placed by Hamza Mustafa, the Director of The World, completing the first phase of one of the most sophisticated real estate development projects in the world.
The next phase of the project is to handover the islands to their developers for construction and the building of infrastructure. The cost of the islands range from $15 to $50 million, although, at present, each island costs about $250million.
The World Islands are a collection of man-made islands shaped in the form of continents of the world, located off the Dubai coast in the UAE. It consists of small individual artificial islands, divided into four categories - estate homes, private homes, dream resorts and community islands. The Formula 1 World Champion, Michael Schumacher, owns an island in The World Island.
Labels: Construction Projects, Nakheel, The World
The World - most exclusive piece of real estate
Wednesday, October 24, 2007
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The World is considered to be the most extravagant project by Nakheel, with an archipelago of 300 manmade islands, set to be another icon for Dubai. With islands located just off the shore of Jumeirah beach, it is the most exclusive piece of real estate that one can own. The islands are constructed using the same techniques as in other popular Nakheel developments, the Palm Jebel Ali and the Palm Jumeirah.
The islands are so arranged as to form a globe, and draws attention from celebrities, wealthy businessmen, and even royalty to purchase a major island representing a specific country. Only recently, the island of Greece has been sold for $15.5mn dollars to an anonymous bidder in Greece. Depending on the location and size, the islands are priced anywhere between $15mn and $50mn. However, it caters only to the super-rich. The placement of infrastructure is left to the choice of the buyers, and this has resulted in the islands being pursued for residential and tourism purposes.
The only form of transport to the island is by boat and sea plane, hindering access to authorized visitors or residents, and this unique selling point has led to more than 60% of the islands being sold already. Despite the expense, the opportunity to own an island is an idea that can be realized only in few parts of the world, and Dubai is one such place.
The islands are so arranged as to form a globe, and draws attention from celebrities, wealthy businessmen, and even royalty to purchase a major island representing a specific country. Only recently, the island of Greece has been sold for $15.5mn dollars to an anonymous bidder in Greece. Depending on the location and size, the islands are priced anywhere between $15mn and $50mn. However, it caters only to the super-rich. The placement of infrastructure is left to the choice of the buyers, and this has resulted in the islands being pursued for residential and tourism purposes.
The only form of transport to the island is by boat and sea plane, hindering access to authorized visitors or residents, and this unique selling point has led to more than 60% of the islands being sold already. Despite the expense, the opportunity to own an island is an idea that can be realized only in few parts of the world, and Dubai is one such place.
Labels: Luxury Homes, Nakheel, Real Estate Projects, The World, Villa Projects, Water front
Nakheel's 'Greece Island' sold for $15.5million
Tuesday, August 07, 2007
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Nakheel has announced that 'The Island of Greece' in its offshore Dubai development The World, has already been sold for $15.5 million. The details of the buyer are yet to be known.
However, a Nakheel spokesperson is said to have confirmed that the owner is not the US rocker Tommy Lee, or former Baywatch star Paymela Anderson.
The price range of $15.5million is considered to be at the low end of the scale, as prices range from $15 million to $50 million.
Of the total 300 islands, 40% has already been sold. The spokesperson said all of islands that make up the Canada and the US have already been bought. Even Europe has almost been sold, though no one has come forward to buy France.
Nakheel has so far sold twenty one islands, including Moscow and Kazakhstan.
While a few islands represent countries, others represent cities.
Every year, Nakheel invites fifty people mostly celebrities, or men from the elite business group, to come and view The World, and then they are welcome to buy the project, if they find it interesting.
The next set of invitations will be sent out in November.
The reclamation work is set to be completed during 2008, when the islands will be handed over to developers.
However, a Nakheel spokesperson is said to have confirmed that the owner is not the US rocker Tommy Lee, or former Baywatch star Paymela Anderson.
The price range of $15.5million is considered to be at the low end of the scale, as prices range from $15 million to $50 million.
Of the total 300 islands, 40% has already been sold. The spokesperson said all of islands that make up the Canada and the US have already been bought. Even Europe has almost been sold, though no one has come forward to buy France.
Nakheel has so far sold twenty one islands, including Moscow and Kazakhstan.
While a few islands represent countries, others represent cities.
Every year, Nakheel invites fifty people mostly celebrities, or men from the elite business group, to come and view The World, and then they are welcome to buy the project, if they find it interesting.
The next set of invitations will be sent out in November.
The reclamation work is set to be completed during 2008, when the islands will be handed over to developers.
Labels: Latest News, Nakheel, Sales, The World
Luxury Resort being developed at Coral Island, a part of "The World"
Saturday, May 05, 2007
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The leading Dubai-based developer, Nakheel, is in the process of constructing a super-luxury resort at the Coral Island, which is one among its 300 man-made islands, which together forms 'The World'. The project value is yet to be revealed.
The 300-island development, 'The World', which is reclaimed from the sea, takes the shape of the world map, and the first island to be developed on it, is the Coral Island, which spreads over an area of 73 hectares.
The Coral Island will be among the world’s most prestigious developments that include a specialist spa hotel, marina village and a residential development. On the whole, the island will have a beachfront of about 9.5kms. The island is scheduled to be ready by 2010.
The work at the development is going on at a fast pace, with most of the 300 islands taking shape. "The World" which is located a little off the Dubai coast, is 94 percent reclaimed, and is scheduled to be completed by 2008.
The Marina village is the main attraction of the development, the place where visitors can indulge in excellent dining, leisure and retail facilities, in addition to a 150 room hotel and Spa, and a world class marina. The suites in the hotel will be among the largest in Dubai, with an in-house swimming pool.
The CEO of Nakheel, Chris O'Donnel, has announced that, till date, "The World" has been a good commercial success, and Nakheel plans to build on this by forming the Coral Island. Dubai market, being extremely competitive, the Coral Island offered by Nakheel will be one of a kind.
The 300-island development, 'The World', which is reclaimed from the sea, takes the shape of the world map, and the first island to be developed on it, is the Coral Island, which spreads over an area of 73 hectares.
The Coral Island will be among the world’s most prestigious developments that include a specialist spa hotel, marina village and a residential development. On the whole, the island will have a beachfront of about 9.5kms. The island is scheduled to be ready by 2010.
The work at the development is going on at a fast pace, with most of the 300 islands taking shape. "The World" which is located a little off the Dubai coast, is 94 percent reclaimed, and is scheduled to be completed by 2008.
The Marina village is the main attraction of the development, the place where visitors can indulge in excellent dining, leisure and retail facilities, in addition to a 150 room hotel and Spa, and a world class marina. The suites in the hotel will be among the largest in Dubai, with an in-house swimming pool.
The CEO of Nakheel, Chris O'Donnel, has announced that, till date, "The World" has been a good commercial success, and Nakheel plans to build on this by forming the Coral Island. Dubai market, being extremely competitive, the Coral Island offered by Nakheel will be one of a kind.
