Luxhabitat brings to you the latest weekly scoop on the Dubai real estate market.
Words by Aneesha Rai in The Market · Jan. 21st, 2015
We scoured the papers and online news, and now we have it! The exclusive news scoop of the week in the luxury real estate business:
According to an article by The National, the Australasia segment of the famous The World Island project is all set for development by the Kuwait-based Investment Dar's property developer, OQYANA Real Estate and sustainable floating island experts, Dutch Docklands. The two companies recently signed a deal on 8th January 2015 in order to develop the area under the "OQYANA World First" development by creating exclusive private luxury floating villas on these islands.
"This is a historic day for us all. We are very pleased with our collaboration with Dutch Docklands and the ability to bring their specific expertise to "OQYANA World First", the leading project in the World development. Our vision has always been to be leaders in the idea of the World, and it is now the right time to recommence activities and turn concepts into reality. Dubai has always been the right destination for such projects and we will work together to be an integral part of Dubai's real estate sector," said Chairman of OQYANA, Zeyad Abdullatif Janahi at the signing.
This project was initially developed in 2005 by OQYANA, which released its Bay View Residences and Sea View Residences for sale at the Arabian Travel Market exhibition via Better Homes. With one villa for each island in the area, this development offers exclusivity and privacy, as the beachfront for each villa will be privately owned. The development will also reportedly comprise of contemporary seaside apartments along with hospitality and retail elements, according to Dutch Docklands' latest press release document. The island will also be reportedly accessible only through ferries and walkways. Looks like we will have another exclusive seafront living property arriving soon to the Dubai real estate circuit.
Dutch Docklands is most famous for its Amillarah Private Islands, a similar artificial island development in the Maldives. Amillarah (Maldivian for "private island") reportedly remains self-supporting, and features state-of-the-art technology. The company is looking forward to recreate its magic with the World Islands project via its collaboration with OQYANA. "Dubai is an amazing city and "The World" project is a fabulous development. Having your own private island close by a world class city will be a unique opportunity for a very selective group of people that only want the best. This new development will diversify the already impressive Dubai real estate market to a new level of luxury." said Paul van de Camp, CEO of Dutch Docklands.
The World Island project is an artificial archipelago of 300 small and private islands designed in the shape of the earth being developed by Nakheel. It is an offshore development from Dubai that began in 2003; construction is still on-going. It features private and estate homes, resorts, and community islands. Luxhabitat is currently offering a resort for sale in the Lebanon part of the development, accessible by private yacht, navette, helicopter and the RTA public ferry.
Imagine living on a space that you can truly call your own! Watch this space for more news and updates on luxury real estate market developments in Dubai.