World Islands Development Falling Into Disrepair?

It was one of the World’s most highly-anticipated and talked about building projects when it was first announced, but the World Islands Developments looks like it is starting to fall into disrepair.

The World Islands Developments was a massive project planned to sit in the shallow waters just off Dubai’s coast near the highly-hyped Palm Jumeirah. When it was first launched in 2003, the Press were quick to cotton onto the idea and the super-rich and celebrities were anticipated to flock to buy islands of their own. 11 billion cubic feet of sand and 47 million tonnes of rock later and the foundations for the islands were complete.

However NASA has just released recent images of the development taken from one of their satellites and the picture is not so rosy. Work inside the man-made lagoon stopped late last year and the website has had no new updates in some time. Dubai Properties then asked for a delay in repaying $26 billion in debt leaving many pondering the future of this incredible resort.

Officially, the project has merely been delayed, not cancelled. However the new overhead pictures of the islands show that several are merging together and there are rumours that several are beginning to sink.

Officials from Nakheel have been quick to point out that the Palm Jumeirah is a great success and attracts many tourists each year, however thanks to the recent economic troubles many hotel developers – amongst them Donald Trump – have quietly shelved hotels plans for the resort.

Only time will tell whether these man-made islands really will be saved or whether they will quietly drop back into the sea with little evidence to show they actually existed.

1 Trackback(s)

  1. From Dubai World gets $9.5 billion state bailout | Buying Foreign Property | Mar 25, 2010

RSS Feed for This PostPost a Comment

css.php