Property

Nakheel approves ‘floating islands’ project at The World in Dubai

Kuwait’s Oqyana Real Estate, Dutch Docklands to develop 33 luxury private islands in the shape of Australasia

PHOTO: The development will feature high-end villas opening up onto private beachfronts, seaside apartments as well as hospitality and retail facilities. Credit: Supplied

Dubai’s Nakheel has given the green light for a development of 33 luxury floating private islands on its The World project, according to media reports.

The floating islands will be developed by Oqyana Real Estate and Amrillah Private Islands, an investment vehicle set up by floating-development specialist Dutch Docklands. In January, the two companies signed to build the islands as part of the Oqyana World First, an archipelago of artificial islands shaped in the form of Australasia.

“Nakheel has now granted our project with all the necessary permits in order to take the next step,” both firms said in a joint statement.

The development will feature high-end villas opening up onto private beachfronts, seaside apartments as well as hospitality and retail facilities.

The private islands will be tailor-made to client specifications, Paul van de Camp, CEO of Dutch Docklands, told Emirates 24|7.

“We do not want to start any sales before all permits are granted and all technical details are engineered,” he added.

Oqyana first launched its project back in 2005, expecting about 10-12,000 people to take up residence on it when complete. However, along with other developments planned for the World Islands, the project was badly hit by the global recession, it was reported.

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