Participants at the International Property Show in Dubai revealed that real estate companies went on to create cities amid seas, arguing that the growing popularity of this type of real estate spur investors to provide huge financial allocations of billions of dollars for the implementation of new projects, according to German news agency.
They said during their participation in the exhibition, which was held this week in Dubai with the participation of 130 countries, the real estate islands projects implemented in the Gulf States currently at a cost of more than $ 5 billion.
The "Palm" island model in Dubai comes at the forefront of real estate projects that were built amid the Gulf Sea, and has achieved great success in attracting hotel investments, and sales of real estate units.
Island was built on the shape of a palm tree which is made up of the trunk and crown, and 17 fronds of hundreds of villas, surrounded by a semicircular barrier.
Next to this project, Blooaters Island project, which its implementation was announced in Dubai, and cost 6 billion dirhams, it is planned that the project embraces the "Eye of Dubai," the world's largest entertainment wheel.
Qatar witnessed earlier this year the launch of Bannana Island project, which was implemented to be similar to Maldives resorts, Moataz Al-Khayat Chairman of Orpacon company that carried out the project, that:"The Bannana Island" includes 141 rooms, suites, villa with swimming pool and villas on the surface of the water and is run by the company "Anantara" , and can be accessed via boat or helicopter.
And the resort extends on a beach of 800 meters long, also includes a platform for helicopters and movie theaters, a health club, sports stadiums and clubs for young people, children and swimming pools to ride the waves.
Al Khayat said that island can be reached with speedboats within 20 minutes, launching from a special port, pointing to the existence of a port in the island accommodate up to 30 boats.
"He added the resort provide for the people of the Gulf to spend tourist family activities of a new type into the sea and provides them with the establishment of weddings and the waves of the sea around them."
In Bahrain, the development of Bahraini company began construction of "Ras El Bar" project, which is new real estate project made up of more than 14 islands, and the project will be held on 1100 hectares of which 440 hectares will be buried at sea.
In Fujairah, the Green Valley company for Real Estate, announced the launch of Dana huge Island project, which extends over 1.7 million square feet of space and cost billion dirhams in Dibba Fujairah area, including 367 luxury villa amid gardens, in addition to the yacht club and five-star hotel.
In Saudi Arabia, Dana Bay project is being implemented on area of 760 thousand meters square. Abdul Mohsen Al-Rashed Chairman of Dana Bay Company said that The project includes the construction of palaces and hotels are expected completion of the infrastructure for the project during the current year, adding that "the total expected investment in the project is more than $ 1.25 billion.
The International Property Show held in Dubai in collaboration with the International Real Estate Professionals Association and the Royal Institute of Chartered Surveyors and the Department of land and property in Dubai, to provide insights around the major investment opportunities.
Geuzen Hijmanz director of real estate exhibition said that: "Forum included sessions presented by experts on Real Property Disputes and International Standards of property and tools of doing business in real estate projects and facilities management strategy."
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