The World ,also called World Islands , is an ambitious project developed in Dubai , United Arab Emirates that consists in building small islands constructed in the rough shape of a world map . The World is located 4.0 kilometers (2.5 mi) off the coast of Dubai, and being constructed mainly of sand dredged from Dubai’s shallow coastal waters .
The World’s developer is Nakheel Properties, and the project was originally conceived by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai.
The project was unveiled in May 2003 by Sheikh Mohammed and dredging began four months later in September 2003. By January 2008, 60% of the islands were sold, 20 of which were bought in the first four months of 2007. On 10 January 2008 the final stone on the breakwater was laid, completing development of the archipelago. The Irish businessman John O’Dolan, who purchased the “Ireland” island, committed suicide in February 2009, after his consortium fell into financial difficulty.
Each island of The World will range from 250 to 900 thousand square feet (23.2 to 83.6 thousand square meters) in size, with 50 to 100 meters (164 to 328 feet) of water between each island. Each island will be sold to selected private developers and are expected to have pricing beginning at AED 25 million (US$ 6.85 million).
The entire development is an area that covers 6 by 9 kilometers (3.7 by 5.6 mi) and is surrounded by an oval-shaped breakwater island. Roughly 232 km (144 mi) of shoreline was created. The World’s overall development costs were estimated at $14 billion USD in 2005.
The Times Online reports in September 2009 that work on The World had been suspended due to the effects of the global financial crisis. And in February 2010 the Daily Mail reported that the Islands have started sinking back into sea. This was later denied by Nakheel and independent technical reports as wholly inaccurate.
As of April, 2010, commercial and residential properties are not currently being constructed on purchased islands, but it is hoped that the Dubai’s government announcement that it will provide $8 billion in support for Nakheel would enable completion of the project.
Dubai’s crown prince bought the former F1 World Champion , Michael Schumacher his own piece of “The World.” . Now Michael is one of the few fortunate individuals that owns an island .
The majority of these islands have already been sold such as Ireland, England, Thailand , however, there are still a few available if several million dollars seems like a bargain. The World Islands Dubai are expensive and this price tag does not include any construction on the islands as this is the responsibility of the buyer or developer , but the opportunity of owning a whole island being part of one of the most ambitious projects worldwide in is obviously appealing to the rich and the famous .