The World Dubai Is Complete

It’s official: The World is ready. The creation of Dubai’s iconic man-made archipelago, The World, has been completed, developer Nakheel announced this week.

The construction’s first phase, a massive four years of reclamation and dredging of 320 million cubic metres of sand to create the infamous nine-kilometre by six-kilometre mega project of islands in the shape of the world map, was finished with the laying of the last stone by the project director Hamza Mustafa on the protective 27km breakwater, which rises about four metres above sea level. The announcement sees the immediate handover of the islands, situated four kilometres offshore from Dubai, to developers for construction and sale of infrastructure and resorts.

Nearly 150 of the World’s 300 islands have already been sold, with more than 30 being bought last year alone, double that sold in 2006. Prices range from $15 million to $45 million but don’t stop there - new owners are expected to meet all infrastructure requirements on their island, such as electricity, gas, water and sewerage. The project’s status as a luxury real estate development has been well-preserved by the developers, who have invited up to 50 top celebrities, royalty and business elite per year since reclamation began, to view the development with the view to buying their own piece of the ‘world’. And it isn’t just individuals who are buying into the idea: investment firm Dubai Infinity Holdings this week announced plans for a mixed-use island development, which will aim to establish Dubai as a global ‘fashion hub’: ‘Isla Moda’ will be developed into the world’s first fashion island, and is expected to combine high style and luxury to attract the world’s fashion elite.

Other confirmed island sales include the island of Shanghai, which was bought for $28m in October by the president of Zhongzhou International Holding Group. Beijing, Taiwan and Hong Kong have reportedly also been bought by unnamed Chinese companies. A group of investors from Kuwait-based Investment Dar have also purchased the islands making up Australia and New Zealand, to be developed into a reported $3.5bn resort called Oqyana (Arabic for Oceana). And Irish estate agent and international property developer Larionovo is set to develop the island of Ireland into a 225,000 sq ft Irish-themed resort called Ireland in the Sun.

Attacked in the past by conservationists, who have argued that the development poses hazards to marine life in the Gulf, the World adds 232km of artificially-created beachfront to the emirate’s natural 67km coastline. However, Nakheel has taken pains to stress that it is the only developer in the region with an in-house environmental team and that it has invested widely in environmental conservation. The company argues that, instead of threatening natural marine life, the construction, with its 350 hectares of artificial reef, will actually attract it.