The World island group by Nakheel
The World is a group of about 300 man-made islands (originally - as of January 2009 reports, about 250 due to some islands being merged) in the shape of a
map of the world about 4 km off the Jumeirah coast in Dubai, UAE, covering
an area of about 55 sq km. The master developer is Nakheel Properties,
a subsidiary of the Dubai Government owned Dubai World conglomerate.
Climate variation between the poles and the equator is not expected
to be significant.
Islands are sold by invitation only (which is why you won't find them in the classified ads section of your newspaper), individually or in groups to buyers who will then develop
them for various purposes. Some islands are themed after the country they represent
and where the owners come from for example "Ireland in the Sun" to
be developed on the Ireland island by an Irish developer. Others will
have little relationship to the countries they represent, for example
Nakheel's own Coral Island development in the north of Canada.
Islands in The World fall into one of several categories:
- Low Density - residential islands spaced further apart for those with
more money who want more privacy. Whether intentional or not, it
seems appropriate that those areas are in Greenland, Northern Canada,
and Siberia.
- Medium and High Density - residential areas for the rest of us.
- Resorts - the focus is hotel and resort accommodation but you might
find a shop or two also.
- Commerical - shopping, entertainment, restaurants, cafes, moonlight
walks along the promenade.
- Transportation - hubs where you can catch a boat to connect to mainland
Dubai.
At the end of 2007, the only completed property in The World was the
Nakheel display villa on one of the islands of Greenland. It was completed
at the end of 2004 / beginning of 2005. Nakheel said that phase I of The World was finished 10 January 2008
with the completion of the breakwater, with a length of 27 km,
height of 4 m, and 34 million tons of rocks. Hamza Mustafa,
the director of The World, laid the last pebble at 8 am that day.
As of 10 January 2008, Nakheel has AED 220 billion (US$ 60 bn)
worth of projects under development, including the Dubai Promenade announced
on 09 January 2008.
The World in numbers
- Total of 300 islands (250 islands as of January 2009), about half sold by end of 2007 (30 sold
in 2004, ~70 sold in 2005, 15 sold in 2006, 35 sold in 2007). About 70% sold by the end of 2008 according to a report in The National (implies about 60 were sold during 2008). A January 2009 report said 175 islands had been sold out of the reduced total of 254 islands. Emirates Business reported 26 October 2009 there were 254 islands, 175 sold, and 33 handed over to developers.
- The World is about 4 km off Dubai coast, 9 km wide and 7 km from south
pole to north pole, and covers an area of almost 55 square kilometers
(600 million sq ft, 55 million
sq meters, or 5500 hectares) - enough space for for about 100 shopping
malls the size of Mall
of the Emirates.
You'll see a variety of areas given depending on the source and date
(see timeline below table). Land only area is possibly
about 9.5 sq km, or 950 hectares.
- Water depth at The World construction site is up to 16 meters. Each
island will be up to 3 m above sea level.
- Cost of land reclamation estimated at AED 7.3 billion ($2 bn) in 2004.
- 300 workers, 10 dredgers, 24/7 operation to reclaim land, 3 million
cubic meters of sand shifted each week, 14 barges transported rocks.
- Total beachfront coastline 232 km (more than 3 times the length of
Dubai's naturally occuring coastline).
- Travel time between any 2 points in The World should be no more than
15 minutes. Travel time between Dubai mainland and The World between
4-15 minutes by boat.
- Cost of each island in 2009 is $20-$50 million, sizes range from about 1.4 to 4.2 hectares (150k-450k sq ft or 14k-42k sq meters). At the end of 2007 prices were AED 55-165 million (US$15 -
$45 million), up somewhat from September 2004 prices of AED 23 - 135
million (US$6 - $37 m) per island...
Other information about The World
- ... or, if urban legends are to
be believed, you can get a free island if you're enough of a celebrity
to persuade Nakheel to donate one to you. There was a report that
Sheikh Mohammed gave an island to Michael Schumacher (a
German taxi driver?) in October 2006.
- For all that cash, you just get a pile of sand, everything else has
to be funded by the purchaser, and quickly before the sand gets
washed away. According to 2004 information from Nakheel, infrastructure
was included in the price but that may not be the case now. Bring
matches and candles.
- Islands are not listed at your local real estate agent. Viewing is
by invitation from Nakheel (but there is an application form on their
website for viewing).
- Land reclamation started end of 2003 and is expected to be complete
by end of 2008. The UAE island was the first to rise above sea level,
about 6 months after dredging began.
- Transportation to and from islands in The World is by boat, plane,
or helicopter. There will not be any road access, nor will there
be roads connecting islands. If you feel up to it, you could swim.
Did we say the islands are 5 km off the coast of Dubai? Penguin Marine Boats Services is in charge of sea transport logistics for The World.
- Dubai World Security, a subsidiary of Dubai World (a Dubai government company) signed a contract in September 2008 with Nakheel to provide 24 hr security for The World using high-tech speed boats to buzz unwanted guests.
Developments on The World
Scheduled or estimated completion dates in this table are unlikely to be realistic, especially as we march on through 2009 with little evidence of construction starting anywhere on The World, and various companies delay or put projects on hold as the global financial crisis and downturn in the Dubai property market prompts developers to pause for thought.
| Island (s) |
|
Owner (*rumoured or unconfirmed) |
Date |
Value |
Project |
Value |
Completion |
| |
|
City-D Development / Stars Dome Realty |
May 2008 |
|
Pangkor Laut |
|
2010 |
| |
|
*David Beckham - unconfirmed |
|
|
|
|
|
| |
|
*Scandanavian shipping company |
|
|
|
|
|
| |
|
*Vijay Singh, Fiji |
|
|
|
|
|
| Antarctica |
|
Dubai Multi Commodities Center |
Feb 2008 |
|
Pearls of Arabia |
|
2010 |
| Antartica |
|
*Michael Schumacher |
Oct 2006 |
$7m |
|
|
|
| Asia, North |
D51 |
VC Bank (developer World Development Co.) |
May 2008 |
|
VC Bank resort |
Dh1.5 bn |
end 2010 |
| Australia |
|
Investment Dar, Kuwait (14 islands) |
Apr 2005 |
|
Oqyana |
$3.5 bn |
|
| Austria |
|
Josef Kleindienst, Austria |
|
|
|
|
|
| Beijing |
|
*Bin Hu, China |
|
|
|
|
|
| Brunei |
|
Salya Corporation |
Apr 2008 |
Dh400m* |
FTV
resort* |
Dh1.2 bn* |
2011 |
| Canada |
|
Nakheel (20 islands) |
May 2007 |
|
Coral Island |
|
2010 |
| Canada |
|
All islands sold (Aug 2007 news) |
|
|
|
|
|
| Ecuador |
|
ACI Real Estate (Germany) |
Feb 2008 |
|
Leisure Resort |
AED 2 bn |
|
| England |
|
John O’Dolan & 10 others (Irish Times) |
Sep 2008 |
$30.4m |
"Greater Britain"? |
|
|
| Ethiopia |
|
*Brad Pitt & Angelina Jolie - denied |
Nov 2007 |
|
|
|
|
| Finland |
|
Salya Corporation |
Apr 2008 |
Dh400m* |
FTV
Palace* |
Dh1.2 bn* |
2011 |
| France |
|
Select Group Select Property JV |
Jun 2008 |
|
Aquitainia |
Dh5.5 bn |
2012 2013 |
| Great Britain |
|
*Richard Branson - denied |
Mar 2006 |
|
|
|
|
| Great Britain |
|
*Rod Steward - unconfirmed |
|
|
|
|
|
| Great Britain |
|
SafMus Holdings (Jan 2009 report) |
|
$63.3m |
Britain The World |
|
2014 |
| Greece |
E16 |
Baron Jean van Gysel de Meise |
Aug 2007 |
$15.5m |
V.Greece |
$260m |
2010 |
| Greenland |
G19 |
Sheikh Mohammed / Nakheel |
|
|
Villa |
|
2005 |
| Greenland |
|
Dubai Infinity Holdings |
Jan 2008 |
$30m+ |
Isla
Moda |
|
2012 |
| Greenland |
|
Nakheel (tentative, GN report 11 Oct 2009) |
|
|
One&Only Hotel Resort |
|
|
| Hong Kong |
|
*Bin Hu, China |
|
|
|
|
|
| Huainan |
|
*Bin Hu, China |
|
|
|
|
|
| Huainan? China |
D43 |
Oasis Group |
Nov 2008 |
|
Oasis resort Dubai (?) |
|
|
| Ireland |
|
Larionovo, Ireland |
|
Dh142m |
Ireland in the Sun |
|
|
| Kazakhstan |
|
Stars Dome Realty (sales agent) |
2007 |
|
Pangkor Laut |
|
2012 |
| Madagascar |
B4 |
|
|
|
Madagascar Dubai? |
|
|
| Macao |
|
*Bin Hu, China |
|
|
|
|
|
| Malaysia |
D38 |
with Sumatra island ($60m?), Harshit Kantaria |
|
$22m |
Isola di Portofino |
|
|
| Markovo, Asia |
|
Not sold? Large 247 m sq meters |
|
$263m |
|
|
|
| Moscow |
|
SafMus Holdings |
2007? |
|
Moscow The World |
|
2015 |
| Nanjing |
|
*Bin Hu, China |
|
|
|
|
|
| New York |
|
For sale (January 2009)? |
|
$35m |
|
|
|
| New Zealand |
|
Investment Dar, Kuwait (14 islands) |
Apr 2005 |
|
Oqyana |
$3.5 bn |
|
| Novaya Zemlya |
|
Cinnovation Group, Singapore |
Feb 2008 |
|
Nova
Island Resort & Spa |
$200 m |
|
| Orenburg |
|
Perseus Property Management |
2005 |
|
Perseus Resort |
|
2010 |
| Rostov |
|
Perseus Property Management |
2005 |
|
Perseus Resort |
|
2010 |
| Shanghai |
|
Mr Bin Hu, Zhongzhou International President |
Oct 2007 |
$28m |
Hotel resort & villas |
|
|
| Siberia |
|
Limitless (project under review - 12 July 2009) |
Sep 2008 |
|
World Island Resort |
$350m |
2010 |
| Siberia |
|
Pearl Dubai, 1.6m sq ft island |
2008? |
Dh100m |
Archangel |
|
|
| Somalia |
|
Opulence Holdings |
Nov 2007 |
|
Jal Aashwa |
Dh1 bn |
|
| Spain |
|
Select Group / Select Property JV |
Jun 2008 |
|
Aquitania |
Dh5.5bn |
2012 2013 |
| South America |
|
Seven Tides (10 islands) |
|
|
|
|
|
| Sumatra |
D88 |
with Malaysia island ($60m?), Harshit Kantaria |
|
$22m |
Isola di Portifino |
|
|
| Taiwan |
|
*Chinese company |
|
|
|
|
|
| Thailand |
|
Profile Real Estate, Dubai ($16m?) |
Sep 2006 |
$20m |
Jasmine Gardens |
$110m |
2011 |
| Turkey |
|
Günal Insaat /
MNG Holding |
Jun 2008 |
$50m |
Turkey, The World |
|
|
| USA |
|
All islands sold (Aug 2007 news) |
|
|
|
|
|
| Zanzibar |
|
*One and Only |
Jun 2006 |
|
resort |
|
|
Timeline of The World
- May 2003 - The World development announced by Nakheel, total completion
scheduled for 2008. Initially to have 200 islands and an area
of 60 million square feet according to
Sultan Ahmed Bin Sulayem, Executive Chairman of Nakheel. Presumably he meant
land area only since that number is about 10 times smaller than the
actual area.
- February 2004 - The World is up to 260 islands, 6 km by 9 km, area
of 250 - 900 thousand square feet for each island, with 50-100 meters
of water between each island. Total of 25 million tons of rock and
200 m cubic meters of sand on completion.
- May 2004 - prices announced for islands in The World, ranging from
AED 23 - 135 million. Total number of islands has increased to 300, and sizes
are
120 - 450 thousand square feet each. Value of The World project is $3 billion
(value of what, precisely, is not clear from press release).
- July 2004 - sizes 140-950
thousand square feet each and The World will cover an area 7 km
by 9 km. Volume of material up to 30m tons of rock and 300m cubic
meters of sand. Prices from
£6 to £21 million.
- August 2004 - land reclamation cost estimated at AED 7.3 billion
($2 bn).
- April 2005 - sand dredging 55% complete, 88 islands above sea level.
When dredging is complete,
there will be 321 million cubic metres of sand and 31 million tons of
rock in The World.
- March 2006 - Sir Richard Branson jumps out of a red phonebox parked
on the island of Great Britain and wonders where Dubai airport is,
where his Virgin Airlines is due to launch their first flight from
Dubai to London. Nakheel says the islands are 90% complete (at least,
the sandy bits are), and gives the total area as 593 million square
feet - about the only time they get the number correct in their press
releases.
- December 2006 - The World reclamation is 90% complete, and press
release says it will cover
"9,340,000 million square feet" which makes no sense. That's
either the size of a very large shopping mall, or the size of Venezuela (the
real country), depending on how you read it.
- December 2006 - according to Emirates Today (a UAE
newspaper), Hamza
Mustafa, CEO or GM of The World, says that island sales will be put
on hold so that the whole project doesn't become a giant construction
site. Nakheel then announced the sale of Ireland
3 months later, and Shanghai in October 2007.
- March 2007 - Ireland sold to
John O Dolan, Noel Connellan, Ray Norton and Andrew Brett,
and the press release
confusingly says the total area of the world is now 9.5 million square
meters, which is about a fifth of the 55 sq km it should be, (unless
the figure refers only to land area). We also get the December 2006
size in the same press release to leave us even more bewildered.
- October 2007 - Nakheel sells Shanghai and gives up trying to say
what the total area of The World is. Perhaps they don't know.
- January 2008 - Isla Moda (a fashion island to be developed by Dubai
Infinity Holdings) is announced.
- January 2008 - The World breakwater is completed. Nakheel still
don't seem to know how big Their World is though (and there's nothing
obvious on their website either).
- December 2008 - Nakheel says 70% of The World has been sold. Dubai visitors and residents continue to look at sand and not much else as they fly over The World on their way in or out.
- January 2009 - reports give the total number of islands as about 250 (254?), the decrease due to some islands being united rather than sinking into the sea.
- October 2009 - an Emirates Business report 13 October 2009 says 2 islands were sold at about AED 240m ($65m) each in July and August 2009, but didn't say which islands. The report also said there were only 4 islands left for sale, which contrasts with other articles in the international press focused on bashing Dubai during 2009 saying that The World is cancelled and/or abandoned, and there are only 4 islands left. However, the accuracy of the Emirates Business report is questionable given that they said at the end that "Select Properties ... bought its two islands in June last year for a reported Dh5.5bn", and yet in the same report they say island prices range from AED 55m - AED 734m ($15m-$200m) each.
- October 2009 - a report in Emirates Business 24-7 on 19 October 2009 said that "Development of the first of The World islands is expected to start as early as next month, while the others await final clearances and permissions from the regulatory body, Trakhees." but didn't give a source for that statement.
Revised construction schedules for some islands (based on Emirates Business reports 19 October 2009)
- Aquitainia (France & Spain islands) - construction start date 2010 Q1 or Q2, completion by end 2013 (Mark Scott, CEO of Select Property).
- Great Britain island - construction start date before end 2009 implied. Safi Qureshi of Premier Real Estate (owner) reportedly said "It is a matter of days and weeks before the announcement of what we are doing. We will only make the announcement once we start work."
- Pangkor Laut (Khazakstan island) - main contractor appointment by November 2009, project handover by 2012 (agent Stars Dome Realty, Chief Executive is Sofia Zigangirova).
Last update
Monday 26-Oct-2009
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