Dubai's residents set to enjoy a slice of luxury island living on Nakheel's iconic development

Speaking at the first day of the first TDIM 08 (Tourism Development project & Investment Market) event at the World Trade Centre in Dubai, Hamza Mustafa, Director of The World, said:

'Many people see The World as a luxury island development that will be the sole preserve of multi-millionaires and celebrities. While there are some private estate islands bought for that purpose, the majority of the islands are commercial resorts. Most of the 50% of the islands sold so far have been sold to developers, who have plans to create resorts, restaurants, yacht clubs, scuba diving, marinas, beach clubs and more. This means that people living and working in Dubai, along with tourists, will be able to enjoy a slice of luxury island living in their leisure time. The World is Dubai's island destination.'

Last week the final stone on the breakwater for The World was placed and reclamation work was completed - exactly to schedule. With reclamation completed on time, Nakheel will be moving onto phase 2 of the development of The World. Islands are being handed over to individual developers who will shortly begin construction work on the individual islands. These islands are sold by invitation every year to carefully picked developers who will bring creative experiences to the island destination.

The World will become one of the most exclusive tourist destinations on the planet. From 2010 more than 40 luxury resorts will start to open. Different world class brands and names will offer fine dining, spas and luxury boutiques, idyllic vacation homes, spectacular marina, yacht and beach clubs and scuba diving, snorkeling and dive centres.

The first show of its kind in the Middle East, TDIM 08 (Tourism Development project & Investment Market) is an exclusive event that focuses on the Middle East & North Africa region. The exhibition aims to bridge the gap between leading tourism developers, investors and the pillars of the industry such as asset providers, government, master property developers, operators, global destination brands, architects and industry specialists. As the creator of some of the world's most iconic developments, Nakheel plays a crucial role in the exhibition, which features the company's largest ever stand.

-As masterplans for projects have the flexibility to evolve, facts and specific statistics may change in the future.

-All rendered images are conceptual

About Nakheel

Nakheel is one of the world's largest privately held real estate developers, and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business, and tourism.

Nakheel is developing an iconic portfolio of innovative landmark projects in Dubai across a range of sectors - residential, commercial, retail, and leisure. Nakheel's developments spread across more than two billion sq ft of land, and its projects are projected to be worth US$60 billion. Upon completion Nakheel's waterfront projects will have added more than 1000km of shoreline to Dubai's coastline.

Nakheel's portfolio currently includes The Palm Jumeirah, The Palm Jebel Ali, The Palm Deira, The World, Waterfront, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City, Dragon Mart Complex, Dubai Promenade, and Dubai Design Centre.

Nakheel is a key entity within Dubai World. Dubai World is one of the world's largest holding companies and supervises a portfolio of businesses and projects for the Dubai government across five continents and more than 100 countries.