Dubai: Dubai-based Nakheel, the region's largest developer in terms of project value, is building a super-luxury resort on Coral Island - one of its 300 man-made islands that forms The Word.
The company did not reveal the value of the project.
The World is a 300-island development reclaimed from the sea in the shape of the world map, and Coral Island will be the first island on to be developed.
Coral Island covers an area of 73 hectares and is located across 20 connected islands in the North American 'region' of The World.
Developments
It will be home to one of The World's most prestigious developments, consisting of three main elements including a marina village, a specialist spa hotel, and a residential development - and the best views of stunning beaches and sunsets. In total, the island will create 9.5 kilometres of new beachfront.
Coral Island will take approximately three years to complete with a target date for residents to move in of 2010.
The development itself is progressing rapidly with most of the 300 islands taking shape. Situated four kilometres off the coast of Dubai and measuring nine kilometres in width and seven kilometres in length, The World today is 94 per cent reclaimed. Reclamation is scheduled to be completed in 2008.
The centrepiece of the development is the Centre Marina Village, a place where residents and visitors can enjoy fine dining, premium retail, luxurious leisure facilities offered by a high-end 150-room hotel and spa and, of course, a world-class marina. The hotel will feature some of Dubai's largest hotel suites, approximately 1000 square feet in size and will come with their own "in-house" swimming pool.
In keeping with the exclusive nature of the island, the majority of buildings will be low-rise, with the highest density occurring in the Marina with a height of no more than six floors. Sales are scheduled to be launched this year.
Chris O'Donnell, Nakheel CEO, said: "The World was launched four years ago at ATM, so it is appropriate that we are showcasing the concept for the first Nakheel development on The World at the show. To date The World has been an excellent commercial success, and Nakheel is looking to build on this by creating Coral Island. The Dubai market is becoming increasingly competitive, but what Nakheel is offering with Coral Island will be unique."
