A Dubai-based developer is set to commence construction on the Taiwan island in The World project, Emirates24|7 can reveal.
“We are soon developing the island of Taiwan on The World,” said AA Properties Managing Director Jeroen van der Geer.
“We have three different concepts ready from three architects. Just after Ramadan we hope to decide on what concept to move forward,” he added.
In 2010, it was reported that the company was planning to build 12 luxury villas and three houses on the Taiwan island, priced between $8.2 million and $9.5 million.
Asked about the prices, Van der Geer said: “We cannot say much now because we will only sell when the project is ready. The market is moving so fast up at the moment that no one can predict values for after two to three years.”
In 2011, AA Properties reportedly bought the 20,000 square-metre island from Nakheel, the developer of The World, for Dh55 million.
This website reported in May 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.
Germany was to be the first of the six islands to be developed as part of a luxury holiday project which was announced in December 2009.
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.
The islands are linked by unifying architectural principles and characterized by sleek designs inspired by their namesake countries. According to the developer, the plot size is six million square feet with built-up area of 4.2 million square feet.
Nakheel has said it has sold 70 per cent of the islands in The World.
The project is nine kilometres wide and seven kilometres long and covers an area of 931 hectares and will add 232km to Dubai’s natural 67km of beachfront.
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.