The World Islands in Dubai were once the talk of the town, attracting tourists and investors from around the world. These man-made islands, created to resemble a map of the world, were built off the coast of Dubai in 2003.
However, over time, these islands have faced numerous challenges and setbacks that have left them in a state of uncertainty. Let’s take a closer look at what happened to the World Islands in Dubai.
The Plan
The idea behind the World Islands was to create a luxurious resort destination that would attract tourists and investors from around the globe. The project was initiated by Nakheel Properties, who envisioned creating 300 islands located 4 kilometers off the Dubai coast. The islands were designed to be constructed using sand dredged from Dubai’s shallow coastal waters.
The Construction
The construction process began in 2003, with each island being built to resemble a specific country on the world map. The entire project was expected to take three years to complete and cost around $14 billion.
However, construction was not without its challenges. The workers had to deal with strong currents, shallow waters, and extreme temperatures while working on the islands. Despite these challenges, Nakheel Properties managed to complete almost 70% of the project by 2008.
The Financial Crisis
In late 2008, however, disaster struck when Dubai was hit by a global financial crisis that forced many investors to pull out of their projects. This left Nakheel Properties in financial turmoil with debts amounting to billions of dollars.
As a result of this financial crisis, work on the World Islands came to an abrupt halt in 2009. Many investors who had bought properties on these islands were left stranded with no way of recouping their investments.
The Current State
Today, most of the World Islands remain undeveloped and abandoned. While a few islands have been sold to private investors, none have been developed as per the initial plan. The islands are now being used for various purposes, such as hosting private events and photo shoots.
In recent years, there have been talks of reviving the project with new investors showing interest in developing the World Islands. However, nothing concrete has materialized yet.
Conclusion
The World Islands in Dubai were once a symbol of luxury and grandeur, but the global financial crisis of 2008 dealt a severe blow to the project. While there have been talks of reviving the project in recent years, it remains uncertain if this will ever happen. For now, these man-made islands that once held so much promise remain an abandoned dream in the middle of the sea.
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Have you ever wondered what happened to the ambitious artificial islands in Dubai? These man-made marvels were once the talk of the town, captivating imaginations around the world. Let’s dive into the story and find out.
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