World's Finland and Brunei to be hub of fashion

The islands of Finland and Brunei in The World cluster have been sold and will be developed into two fashion-themed resorts, Emirates Business has learnt.

Salya Corporation has spent around Dh800 million to acquire the man-made islands and will plough a further Dh2.4 billion to develop the attractions.

Director Dr Rakesh Chandola said Brunei Island will be turned into a Fashion TV resort – a boutique development based on FTV channel – which will feature the world’s finest and best known brands.

“Located at The World, the Fashion TV resort will offer a once-in-a-lifetime investment opportunity to those who seek to invest safely in real estate and want a piece of the pie of world fashion. The project has been designed around a hub of activities related to the fashion world, with worldwide broadcasts of fashion shows and related themes, attracting the who’s who of the fashion world,” he said

The FTV resort will feature a variety of suites, villas and waterfront homes for freehold ownership.

Chandola said Finland Island will be turned into a fashion community – FTV palace – and will host an exclusive boutique project of fully furnished hotel suites, villas and water front homes.

Both FTV palace and FTV world resort will be run by a leading hotel chain, Chandola added.

Both real estate projects are due to be completed in 2011 and the selling price of property on both islands will be around $2,500 (Dh9,175) per square foot.