DubaiDevelopments:First they decided to create The World - now the developers of that ambitious project plan to build The Universe, another mixed-use scheme that will wrap around it. Fiona Tyrrellreports
FIRST there were three reclaimed palm-shaped islands, then there was The World, now Dubai is gearing up for the latest artificial luxury island resort - The Universe.
Located off the Dubai coastline and wrapped around The World project, The Universe will incorporate a series of man-made islands, and according to its developer, Nakheel, "draws its inspiration from the wonders of the solar system with islands in the shape of the sun, the moon and the planets".
Nakheel has yet to draw up a master plan for the development of The Universe and neither the cost of the project or its planned completion date have been announced.
The company has confirmed, however, that The Universe will be a mixed-use development with residential and tourist facilities broadly similar to The World, a group of 300 islands shaped to form the map of the world. Also being developed by Nakheel, it is currently being sold to individuals and developers.
Half of the islands at The World have been purchased to date. One of the first islands to be sold was the island of Ireland which was purchased for €26 million by an Irish consortium which is now selling holiday homes on the island.
Nakheel's announcement about The Universe was accompanied by a commitment to spending €37 million on a coastal sustainability research project.
The Universe is the latest in a line of brash property projects currently underway in Dubai. Plans to build an offshore island in the shape of a palm tree were greeted with much scepticism when first announced in 2001.
Now the 4,000-unit luxury development is half built and residents have started moving into the first of three artificial islands called The Palms, Dubai's first man-made development. Around 2 per cent of these are Irish, according to the developer.
Since then, projects announced for Dubai range from uber-luxurious schemes to outlandish novelty concepts, each developer trying to out-wow its competitors.
Plans to recreate the French town of Lyon in Dubai, complete with museums and universities, by a local entrepreneur were revealed recently.
Then there is Bawadi, a Las Vegas-style development in the desert outside the city of Dubai, which will see 51 hotels built along a 10kms boulevard in the desert with themed areas such as the Wild West, HollyBolly, Camelot and Fantasia.
And Stephen Spielberg's film studio DreamWorks plans to set up a theme park in Dubai.
Development in Dubai is taking place at breakneck speed and as a result it is a massive building site.
The ruling family's plan to transform the small emirate into the Middle East's leading business and leisure hub demands this frenetic pace of activity.
Despite this, Dubai has earned a name for itself as a luxury destination with its high-end beach resorts, indoor ski slope and unrivalled shopping malls.
