'V…' launches region's first boutique island on The World

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Valued at Dhs624m ($170m), 'V…Greece on The World' brings a new concept in luxury, beauty and business to Dubai and the Middle East.

Believing that the percentage of younger customers going to traditional hotels is decreasing compared to boutique hotels, Jean van Gysel decided to move to a more dynamic, smaller product with much more attention to detail. He plans to launch a hotel under the V… brand every year for the next five years in the Middle East.

The 45 thousand square meter island of 'Greece', laying barren in the crystal waters of the Gulf today, will witness a transformation beginning at the end of 2008 into an ultra luxurious boutique hotel with 65 guest living spaces, all with a unique business angle. Investors who buy 'V…Greece on The World' property will have access to that property for 2 months of the year, and earn a 50 percent share of the property's gross income over the remaining 10 months.

'In my opinion The World is a one-of-a-kind destination, and I was attracted by the freedom, sun, light and fresh air the property would provide. Combining this unique opportunity with a business model that will attract high net worth investors looking for something different, something out of the ordinary, in my opinion in a winning formula,'

said Jean van Gysel.

''V…Greece on The World' is a simply vision of beauty inspired by light and water. It emphasizes an interesting balance of interior space and exterior landscaping offering a vision of pure and simplistic comfort and ultimate luxury.'

Designed by internationally prominent Italian designers Architetti Associatti, the hotel will feature a mixture of innovative techniques and environmentally friendly materials. Rooms will be decorated with simple lines and vivid colors to reflect the perfect composition of traditional architecture and chic design.

'V…Greece on The World' will not only emit luxury and nobility, but has an environmental agenda to match. The built up area will only cover 37% of the island, or 17 thousand square meters, which leaves plenty of room for green luscious gardens and walkways. Grey water management and environmentally friendly construction codes will be strictly followed in line with Nakheel's 'Blue Communities' launched earlier this year.

Hamza Mustafa, Director of The World said: 'Developments on The World will leave a legacy for the creative owners of these islands and 'V...Greece on The World' is exactly such a development. I am delighted that Baron Jean van Gysel is going to bring his talent and passion to our exclusive club of island developers. The 'V...Greece on The World' experience will surely be fascinating and a much sought after destination when complete.'

With 65 living spaces ranging in size from 2000 square feet to villa type spaces reaching up to 3,500 square feet, 'V…Greece on The World' consists of many elements including a specialist spa hotel, fitness center, business center, conference rooms, luxurious shops and restaurants and a residential development with the best views of stunning beaches and sunsets.

The purchasing of 'Greece' Island on The World was negotiated by Bin Shabib & Associates (BSA), a leading Dubai based law firm, which will also be responsible for structuring the legal framework in relation to the sales of units on the island.

'V…Greece on the World' is a very appealing project and we are glad to be involved,' said Michael Kortbawi, Partner, and Corporate at BSA. 'In order to safeguard the rights of property owners, we have revised the legal structure of purchasing agreements to be in accordance with the appropriate laws, Dubai Law number 27 of 2007, concerning the ownership of joint properties and condominiums as well as Dubai Law number 8 concerning real estate trust accounts. This will ensure that end users can be confident in the quality of their property or their ability to make the developer resolve any structural problems.'

Jean van Gysel's first foray into boutique hotels came when he began to renovate a Spanish property in the tiny Andalusian village of Vejer de le Frontera, where he mixed modern elements -including outstanding services; fabulous transport; modern spa and fine dining - with the old architecture creating a stunning boutique hotel and a genuine retreat.