Monday, January 21, 2008

Nakheel's 'The World' enters final stage of construction

The World Islands construction
Nakheel, one of the largest property developers of the world, has entered the final stage of construction of The World islands in Dubai, completing the entire project in five years from the date of announcement.

The final stone that was laid was 34 million tones of rock, which was used in constructing 27-kms breakwater, which surrounds the 300 man-made islands that make up The World. The last rock was placed by Hamza Mustafa, the Director of The World, completing the first phase of one of the most sophisticated real estate development projects in the world.

The next phase of the project is to handover the islands to their developers for construction and the building of infrastructure. The cost of the islands range from $15 to $50 million, although, at present, each island costs about $250million.

The World Islands are a collection of man-made islands shaped in the form of continents of the world, located off the Dubai coast in the UAE. It consists of small individual artificial islands, divided into four categories - estate homes, private homes, dream resorts and community islands. The Formula 1 World Champion, Michael Schumacher, owns an island in The World Island.

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