the world

Is It The End Of The World In Dubai?

In 2009, I wrote that The World project in Dubai might be in trouble due to the economic downturn. The ambitious development in the Gulf may have another problem on its plate. Reports came out yesterday stating that the islands shaped like countries are sinking back down into the water.

The project has been in trouble for years due to the debt-ridden state of Dubai as well as the logistics of building hundreds of islands in the middle of the water. The picture above shows the project back in 2006 but more recent reports tell of a more misshapen development plagued by erosion. At a property hearing, Richard Wilmot-Smith QC, a British lawyer for a company that ferries people to the islands, told the tribunal that the land is gradually falling back into the sea. Penguin Marine sought to get out of its contract with the developer Nakheel, saying that fewer people are going to the islands is and that the project is essentially falling apart.

Work on the islands has reportedly been stopped for over a year. The project is becoming an ocean wasteland, a half-finished project of rocks and sand surrounded by breakwaters. Work has stopped inside the manmade lagoon and instead of neatly defined islands in the shape of recognizable countries and continents, ragged sandy blobs pushed barely above the water remain.

Tags: dubai, dubai world, nahkeel, the world

Continue reading “Is It The End Of The World In Dubai?”

Is It The End For Dubai's World?

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

What in the world is happening to The World? The London Times reports that one of the world's most ambitious building projects, a series of islands in the Arabian Gulf shaped like a map of the Earth, may be in real trouble. We've been following this project for years watching as various people laid claim, or were rumored to have laid claim to country-named islands. Richard Branson even planted a Union Jack on one of the islands as one of his infamous stunts. But now the project is becoming an ocean wasteland, a half-finished project of rocks and sand surrounded by breakwaters. Work has stopped inside the manmade lagoon and instead of neatly defined islands in the shape of recognizable countries and continents, ragged sandy blobs pushed barely above the water remain. The Times article quotes a Dubai property agent as saying that the project has been cancelled, a fact which leaves many investors in the lurch.

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Tags: dubai, real estate development, RealEstateDevelopment, the world, TheWorld

Karl Lagerfeld To Design Homes In Dubai

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Fashion designer Karl Lagerfeld's already packed schedule is getting a little busier. The quirky fashion icon has signed a deal with Dubai Infinity Holdings to design limited edition homes on Isla Moda, the world's first dedicated fashion island, located on Dubai's The World project. Lagerfeld will design 80 homes total.

Lagerfeld has designed for Chanel and for his own lines for years, is also a photographer and has created campaigns for brands such as Dom Perignon. He has opened a bookshop on the leftbank of Paris and start a new venture as a publisher of art books with his publication house, 7L. He has designed his own homes but this is his first commercial residential project. In a press release, Lagerfeld described Dubai as "a fashion bud on the verge of blossoming into the next fashion hub of the world."

Isla Moda will include a fashion hotel and a variety of luxury residential villas. The Hotel Moda will have approximately 250 rooms and serviced apartments as well as boutiques representing the world's most prominent designers.. There will also be design studios and dedicated areas for fashion shows and project launches. Isla Moda is set to open in 2011.

Gallery: Designer Hotels

Tags: dubai, isla moda, IslaModa, karl lagerfeld, KarlLagerfeld, the world, TheWorld

The Plans For The World's Greece

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

More plans have been announced for The World, the massive floating community in Dubai with islands representing the various countries and continents. European aristocrat Baron Jean van Gysel de Meise, owner of the five-star Le Plaza in Brussels and the boutique V...Vejer in Spain will create a boutique hotel on the island of 'Greece.'. He plans to launch a hotel under the V... brand every year for the next five years in the Middle East.

The island of Greece will become a boutique hotel with 65 guest units. Investors can buy 'V...Greece on The World' property, have access to that property for two months of the year, and earn a 50 percent share of the property's gross income over the remaining 10 months. The units will range from 2,000 to 3,500 square feet and ther will be a spa, fitness center, stores and restaurants. The buildings will cover 37% of the island leaving room for gardens and walkways. The buildings will be created using gray water managements and environmentally friendly construction codes. No word yet on whether it will have a Greek theme.

At the start of the year, Nakheel development laid the last stone in the breakwater for the project so development on the islands should be ramping up soon. The gallery below lists some of the planned projects.

Gallery: The Projects of The World

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Tags: dubai, greece, the world

Fashion Island Hits the World

by Deidre Woollard (RSS feed) —

For years Southern California has had a mall called Fashion Island. Now there will be a real fashion island in what is becoming one of the top shopping spots in the world, Dubai. The Isla Moda will be located in the set of islands known as The World. The island will include a fashion resort, residential villas, haute couture boutiques and hotels. The idea is to create a comprehensive fashion experience; guests will even be able to have a personal style concierge to help with selecting clothing or a design concierge to help with interior design ideas. The Hotel Moda will have approximately 250 rooms and serviced apartments. The island will also host fashion events although so far no designers have been associated with the project. The first stage is expected to begin before the end of the year so we will have to wait a while for Fashion Week at Isla Moda.

[via Casa Dubai]

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Tags: dubai, entertainment-awards, fashion island, isla moda, IslaModa, the world

The World's Shanghai Island Sells For $28 Million

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

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

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

Nakheel Sells "Ireland" To Irish Consortium

by Deidre Woollard (RSS feed) —

Filed under: Estates

I've been following the development of "The World," Nakheel's Earth-shaped development in Dubai for a few years. The ambitious project to create islands representing the land masses of the world off the coast of Dubai has been steadily proceeding. Now comes the news that Nakheel has sold the island of Ireland to an Irish business consortium. Ireland sold for AED 142 million (around $38 million). The consortium will turn the island into "Ireland in the Sun" a resort with homes, restaurants and leisure opportunities with an Irish theme. Sometimes this whole project seems like a huge and luxurious version of Epcot Center.

Now that the world is reaching completion, interest in the project seems to be accelerating. Several celebrities have been rumored to have bought in to the project and last fall, race car driver Michael Schumacher was gifted with his own island. The islands are 92% reclaimed and construction should finish up by the end of 2008.

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Tags: dubai, ireland, nakheel, the world, TheWorld

Schumacher Gets A Piece Of The World

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Mariah Carey may have gotten a diamond necklace from a prince but race car driver Michael Schumacher received an even higher ticket item. Dubai's crown prince, Sheikh Mohammed bin Rashid Al Maktoum, has gifted the Formula One driver with a piece of The World, the manmade island development located off the coast of the United Arab Emirates. Schumacher's island is part of 'Antarctica' on the artificial globe, is worth about $7 million.

The World has attracted some big names so Schumacher is in excellent company. Richard Branson has visited, Angelina Jolie and Brad Pitt are believed to have checked it out and Michael Jackson has stopped by and David Beckham and Rod Stewart are also rumored owners. When completed the development will also be home to several lavish hotels.

[Thanks, Lana]

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Tags: dubai, formula one, schumacher, the world, TheWorld

Branson Plants His Flag At The World

by Deidre Woollard (RSS feed) —

Filed under: Wings

Sir Richard Branson showed up in Dubai this week to ceremoniously plant the Union Jack on the Great Britain island at the The World development. The event was part of the debut of Virgin Atlantic Airways’ direct flights between the United Kingdom and Dubai. Branson jumped out of a red London telephone box dressed in a colorful Union Jack suit. Development company Nakheel also announced that 90 percent of the islands of The World have been created. While in Dubai, Branson also talked about his favorite subject, space, saying that he plans to make Virgin the world's first commercial spaceline and that they will be sending passengers into space in sub-orbital craft starting in late 2008.

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Tags: dubai, nakheel, sir richard branson, SirRichardBranson, space, the world, virgin, virgin airways

Perseus Spa Hotel Planned For The World in Dubai

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Another hotel and resort is coming to The World in Dubai. The Perseus Spa Hotel and Resort will be on two of The World islands, Orenburg and Rostov. The model of the two islands will be displayed at the Home Owner Dubai Show. The resort will have beaches and a spa hotel with a private laguna and diving center. There will be one, two and three bedroom apartments with sea views looking onto other islands or the marina. Rostov, the second island will be home to three and four bedroom private villas each with a private beach, mooring, swimming pool and large garden.

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Tags: dubai, perseus spa hotel, the world