Works on The World’s projects get underway

Master developer Nakheel confirmed the start of construction on a second private project on its off-shore island development, The World, yesterday. Sources said the first project also got underway this month.

The confirmation came after European developer Major Trade announced it had commenced work on its island project, located at the tip of the ‘Greenland’ area. Late last month,  Kleindienst Group said it would start construction on its ‘Germany’ Island this quarter – part of its Dh3.1bn Heart of Europe project.

Emirates Business had reported on October 19, 2009, construction would begin on The World in Q1.

Marwan Al Qamzi, Group Managing Director, Nakheel, said: “The World continues to be recognised by developers as a very attractive project given its differentiated offering and its close proximity and accessibility to emerging markets. A long-term business plan is in place and we are pleased to see construction on several islands starting in the coming months.”

Viktor Herceg, Managing Director, Major Trade, said initial ground works and reclaiming of the island plot have begun and vibro-compaction will begin next month. “We are delighted to have begun developing our island. We are confident there will be high demand for our residences,” he said.

 

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