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Dubai Islands 'falling Into The Sea'

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By Richard Spencer, Dubai 9:30PM GMT 20 Jan 2011

The islands were intended as the ultimate luxury possession, even for Dubai. But the World, the ambitiously-constructed archipelago of islands shaped like the countries of the globe, is sinking back into the sea, according to evidence cited before a property tribunal.

The islands were intended to be developed with tailor-made hotel complexes and luxury villas, and sold to millionaires. They are off the coast of Dubai and accessible by yacht or motor boat.

Now their sands are eroding and the navigational channels between them are silting up, the British lawyer for a company bringing a case against the state-run developer, Nakheel, has told judges.

"The islands are gradually falling back into the sea," Richard Wilmot-Smith QC, for Penguin Marine, said. The evidence showed "erosion and deterioration of The World islands", he added.

FULL STORY

http://www.telegraph.co.uk/news/worldnews/middleeast/dubai/8271643/The-World-is-sinking-Dubai-islands-falling-into-the-sea.html

Wikipedia Link

The islands of Great Britain and Moscow on The World were acquired by Premier Real Estate Bureau in the Summer of 2008. The news was leaked in a Daily Mail article of January 2009, refuting claims that Great Britain was owned by Irish investor John O'Dolan, Richard Branson or Rod Stewart.[18] Safi Qurashi, the multi-millionaire entrepreneur at the head of Premier and his business partner Mustafa Nagri, paid an estimated $64 million USD for the 11-acre (45,000 m2) piece of land; he was later convicted for non-payment of cheques and sentenced to seven years in jail.[19]

http://en.wikipedia.org/wiki/The_World_%28archipelago%29

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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