Posted by Bob Brunskill
UAE developer Nakheel has begun construction on a second project at its offshore island development, the World.
Marwan Al Qamzi, group managing director at Nakheel, told Emirates Business 24/7, that the World remained an attractive prospect for developers because of its close proximity and accessibility to emerging markets.
"A long-term business plan is in place and we are pleased to see construction on several islands starting in the coming months," he added.
In addition, Emirates Business noted that the European developer Major Trade had also begun its own development work at the island project.
This development is located at the tip of the "Greenland" area of the World and plans for the island include a modern residential villa development and a luxury boutique hotel.
The World markets itself as "a blank canvas in the azure waters of the Arabian Gulf". As unique collection of private and commercial islands, it is designed to represent the luxury and exclusivity of the UAE.