Nakheel Announces Own Island Development On The World
Coral Island to be created on the 'north coast of Canada'
The World is a 300 island development reclaimed from the sea in the shape of the world map, and Coral Island will be the first island on The World to be developed by its creators, Nakheel.
The centrepiece of the development is the Centre Marina Village, a place where residents and visitors can enjoy fine dining, premium retail, luxurious leisure facilities offered by a high-end 150-room hotel and spa and, of course, a world-class marina. The hotel will feature some of Dubai’s largest hotel suites, approximately 1000sq ft in size and will come with their own “in-house” swimming pool.
In keeping with the exclusive nature of the island, the majority of buildings will be low-rise, with the highest density occurring in the Marina with a height of no more than six floors. The island will also feature high-end real estate (beach villas, townhouses and waterhomes), although there will be no more than 300 units. Sales for the project are scheduled to launch this year.
Chris O’Donnell, Nakheel CEO, said:
“The World was launched four years ago at ATM, so it is appropriate that we are showcasing the concept for the first Nakheel development on The World this year at the show. To date The World has been an excellent commercial success, and Nakheel is looking to build on this by creating Coral Island. The Dubai market is becoming increasingly competitive, but what Nakheel is offering with Coral Island will be completely unique.”
Hamza Mustafa, General Manager - The World said:
“The words ‘exclusive’ and ‘luxury’ can be overused in the property market, but what will be on offer on Coral Island on The World will truly be unprecedented in Dubai or anywhere else. Where else in Dubai can you relax on more than 9km of unspoilt beach on an island where there are no roads? As well as the residential element, the hotel and leisure offer will ensure that this is very much an island for Dubai – a perfect island retreat to get away from the hustle-and-bustle of city life.”
Coral Island will take approximately three years to complete with a target date for residents to move in of 2010.
The development itself is progressing rapidly with most of the 300 islands taking shape. Situated 4km off the coast of Dubai and measuring 9km wide and 7km long, The World today is 94 per cent reclaimed. Reclamation on the iconic project is scheduled to be completed in 2008.
The World covers approximately 931 hectares and will add an additional 232 kilometres of beachfront to Dubai’s coastline by using over 320 million cubic metres of sand to form the islands.