The World, Dubai’s island development that is shaped to resemble a world map, has been selling strongly according to developer Nakheel. There are some 300 man-made islands that are in the shape of the continents and their countries, and approximately 70 percent of them have been sold.
In a recent interview, Nakheel’s managing director Hamza Mustafa said that “This year and the previous year’s invitation quota were taken up and have all been sold.”
“Islands are sold by invitation only, and the individuals and consortiums are carefully selected to receive an invitation to purchase islands on The World,” Mustafa told the National newspaper. “They are generally entrepreneurs who are willing to take on challenging projects and are looking for something really different to get involved with.”
Just some of the properties underway in Dubai’s World include the Isla Moda on Greenland, a wellness resort in Siberia, and Baron Jean van Gysel de Meise’s Greece development. Greenland is being turned into a FashionIsland by designer Karl Lagerfeld, while the Baron is making Greece a boutique resort.
Nakheel’s Chief Executive Chris O’Donnell recently said that the company has enough money to complete all of the projects it has underway. New projects, though, will have to wait and see, though.
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