The World's Shanghai Island Sells For $28 Million

by Deidre Woollard (RSS feed)
Oct 12th 2007 at 8:02AM

When Nakheel announced the project to create The World, the cluster of Earth-inspired man-made islands off the coast of Dubai, some people, myself included, wondered if they would ever sell them for the exorbitant prices they were charging. For a while there it looked like the project was more rumor and speculation than hard cash. But as the islands are emerging from the water, more and more developers from around the world seem ready to plunk down the cash. The Gulf News reports that Nakheel has sold has sold 35 plots of The World this year. Around 45% of the 300 islands have been sold. The latest big deal is for the Shanghai island which was sold to Chinese businessman Bin Hu for $28 million. Hu is shown here on the island planting the Chinese flag (rather like Richard Branson did on the Great Britain island last year). Other big sales this year include the Greece island which sold for $15.5 million and the Tokyo island which went for $45 million.

[Thanks, Lana]

Previous stories on The World:
Nakheel sells Ireland to Irish consortium
Schumaker gets a piece of the world
Angelina and Brad checking out The World?
Perseus Spa Hotel Planned For The World in Dubai
Michael Jackson Tours The World

Tags: china, dubai, nakheel, shanghai, the world, TheWorld