The release of prices for Dubai`s luxury offshore project `The World` by Nakheel, has sparked an enormous surge in interest both regionally and internationally….
The release of prices for Dubai`s luxury offshore project `The World` by Nakheel, has sparked an enormous surge in interest both regionally and internationally. The prices were announced just on Monday but already Nakheel sales representatives of this exclusive development have been selling several islands to the most exclusive and prestigious investors, and have been inundated with queries from potential purchasers eager to become a part of this unique project.
From the UAE, neighbouring GCC countries Europe, the United States, South America and the Far East we have witnessed a level of interest and excitement that we at Nakheel have not seen since the launch of The Palm Jumeirah. We have even had three buyers fly in from Europe over night in order to purchase islands, said Sultan Ahmed bin Sulayem, Chairman, Nakheel. We have, however, made it clear from the outset of this project that we will screen all applications very carefully to ensure that they fit the exact criteria that you would expect for such an iconic project and as purchasers would expect when building their island.
The inquiries have come from individuals looking to purchase for their own use as well as from investors and leading international hotel groups. Prices of the islands were revealed on Monday of this week and range from AED 180 per square foot to AED 300 per square foot, depending on the size and proximity to other islands. The islands range from AED 23 millions to AED 135 millions.
It`s clear that events relating to the property market in Dubai are being watched very closely around the world, said bin Sulayem. As soon as we make a new announcement relating to any of the Nakheel projects we see immediate interest from serious investors due to the uniqueness of properties Nakheel has to offer, which are unparalleled to any other with their standard and attention to every detail, thus providing a haven of luxury living and investment opportunity unlike anything the world has ever seen.
Positioned to be Dubai`s most exclusive property development yet, The World will consist of approximately 300 islands strategically positioned to form the shape of the world map. The exclusive investors in the islands will have the option of utilising them for private or commercial use.
When complete each island will range from 120,000 to 450,000 square feet in size, with approximately 100 metres of water between each island. To further enhance the privacy of these exclusive islands the only mode of transport to them will be via water or by air.
The development is worth US $3 billion and will be located four kilometres offshore from Dubai, at a point halfway between Burj Al Arab and Port Rashid.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
