Nakheel open to investor inquiries for The World project

The number of developers submitting development plans for approval in The World project is on the rise, according to Nakheel.

“An increasing number of investors and owners are currently focusing on development on The World, as is evident from the growing number who are submitting their development plans for approval,” a company spokesperson told Emirates 24|7.

So far, Lebanon Island and one other private island have been developed. Among the investors planning for development are Kleindienst Properties, who own six islands and are developing a project called Heart of Europe, and a consortium of investors in the island of Taiwan.

“With a renewed interest from owners, we expect more development to come on stream in the near future,” the spokesperson revealed.

This website reported that AA Properties, a Dubai-based developer, is set to commence construction on the Taiwan island in The World project.

"We are soon developing the island of Taiwan on The World,” said AA Properties Managing Director Jeroen van der Geer.

In May, we reported that work on The Heart of Europe development is will start as The World, a Nakheel subsidiary, and Kleindienst Properties - developers of the project, had amicably resolved their dispute.

Kleindienst has said it will complete the showcase villa this year, while construction of 20 other villas commences.

The Heart of Europe comprises six islands: Germany, Austria, Switzerland, Netherlands, Sweden and St. Petersburg with six additional destinations being Sochi, Belgium, Luxembourg, Geneva, Monte Carlo and Poland, the company website says.

Nakheel, however, is open to investor inquires on the development though the islands in the project when launched were sold on invitation-only basis.

"The renewed customer interest in this world class project is a symbol of investor trust and confidence in Dubai and its real estate market. Investor enquiries on this project are welcome."

The World LLC, master developer of the iconic project, has completed development of the 300 islands and 27 kilometre of breakwater.

The islands range from 150,000 to 450,000 square feet in size. The project is divided into private estate island zones, commercial zones, which have low/mid/high density resorts, hubs for ferry transfer points and public visitor areas.

 

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