m i l l i o n a i r e H a b i tat

Dubai’s islands in the sun

Shaping

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World
The

Millionaire meets the people who have ambitious and expensive plans for the islands
they have bought. Whether it is about recreating history or making a fashion statement,
this is the place that will launch a thousand dreams

text Shalini Seth

W here in the world would a man buy an

island and swim all around it for sheer joy?
Where in the world would you have a buyer
give a blank cheque for an island, asking
the sales executive to fill in the right amount – and the have the
seller return it? Where in the world would two young men buy an
island and proceed merrily to build a sand castle on it?
While it is not possible to reveal everything due to the
privacy promised to buyers by Dubai-based developer Nakheel,
Millionaire spoke to a few key players and buyers who are shaping
the private islands that make up The World. We tour it, get the
sand out of our shoes and take a sea-shell home as memento.
Pity it’s not before 2006 or we could have even seen the show
villa on “Greenland” where even the helipad is marble-tiled.
An apocryphal story goes that a Chinese gas tycoon offered a
blank cheque for it (the one that was not accepted). The villa is
now marked ‘private property’. >

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Nakheel sales centre in Dubai

The World is now moving into its next phase, which will
see the islands handed over to developers for the creation of
infrastructure and the construction of resorts. The World team
was on hand as the last rock was placed at 8am on January 10,
2008, by Director Hamza Mustafa.
“I think few people realise the level of luxury. It is your
possession. You can even change the name of the country once
Hussein Al Yasiri sells The World
you buy it. You can reshape it in the form of a seahorse or a leaf,”
says Adnan Dawood, brand manager, The World, who thinks
the islands are practically an art form. That they could be, given
that aerial shots of it were displayed at the Miami Art Fair.
Dawood is not off the mark. Developers on The World can “I think few people realise
create their own environment within the project through a process
known as terraforming – literally meaning earth-shaping. Islands the level of luxury. It is your
are sold as undeveloped land on a freehold basis in the form of
continuous plots with both land and water areas; the developer
possession. You can even
can then reshape the islands to create unique features such as
private beaches, coves, harbours and marinas by moving the sand
change the name of the
within designated setbacks and regulations. Investors also decide country once you buy it”
what water and power-generation infrastructure they will need.
The development – 4km off the coast of Dubai – adds 232km
of beachfront to the emirate’s natural 67km coastline. There is a
story about that too… but The Palm islands come first in that one.
Legend has it that in 1997 His Highness Sheikh Mohammed bin

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 The profile of a buyer
• 30 to 50 years old.
• Ultra-high net worth.
• Globetrotter, with homes in at least two countries.
• Has a staff of 50 to 100 people.
• Speaks more than one language.
• Wealth is relatively new – not overnight but earned over the
past decade.
• Innovative and influential and driven by a hope to leave a
legacy.
• Makes a statement.
Private estate owners on The World are older. They are between
40-60 years of age and reclusive. They prefer to remain in the
background.

Rashid Al Maktoum, Vice-President and Prime Minister of the

UAE and Ruler of Dubai, asked Dubai World Chairman Sultan
bin Sulayem to find a way to increase Dubai’s coastline. The
result came from an architect who sketched plans for a circular
island with seven kilometres of beachfront. Sheikh Mohammed
was unimpressed. “Seven?” he is said to have asked. “Why not
70? It doesn’t have to be round.” And he then proceeded to draw
something that was shaped like The Palm.
The Palm islands sold out quickly – within a week. After two
more Palms came The World, double the size and designed as
the absolute pinnacle of luxury. If the Palm islands were designed
for high net worth individuals, The World was targeted at “the
royalty, the Richard Bransons of the world”. After all, what is
more luxurious than a private island (or 300) 20 minutes from
a big city?
The only restrictions on developers’ imaginations are the
zoning regulations introduced to ensure overall conformity with
the master plan. So while some islands are reserved for single
homes, others can be completely built over should the owners
so wish. Alaska, for example, has been designated a resort zone
because it is suitable for hotel development with unrestricted
views of the sea.
Regardless of its closeness to Dubai, as you enter the waters of
The World, the waves become smoother and the temperature
drops a notch or two. Dawood rattles off facts such as there
being enough sand here to construct 32 giant pyramids. And
that you can see the islands from the moon. “The view is like
seeing Dubai on a postcard. And that is our biggest selling point,”
he says, pointing at the skyline that is only a few decades old and
still growing.
If reality is suspended some kilometres from Dubai then this
is the world or an inexact replica of it, with roughly 300 islands
divided into countries and cities. So inexact that Switzerland did
not exist until Roger Federer pointed it out in an interview >

Nakheel changed the map of Dubai

* Data available from USGS/EROS, Sioux, SD
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The World with Burj Dubai in the foreground
to Vogue magazine. The tennis ace, who has a home in Dubai
Marina, was asked if he considered buying an island. Federer said
he was unable to bid for his homeland. “It doesn’t exist,” he said.
“Switzerland is too small.” And, hey presto, now it does.
There are many stories concerning The World. A lot of them
are about celebrities who supposedly own islands. Brad Pitt and
Angelina Jolie were rumoured to have bought Ethiopia. Rod
Stewart was said to have shelled out £18 million for Britain.
Shahrukh Khan was said to own an island too after he was
taken on a tour by Nakheel. A news channel actually bumped
into Prince Albert of Monaco outside the sales centre. Michael
Jackson, Richard Branson and Bill Clinton are said to be
amongst the high-profile visitors. Mötley Crue singer Tommy
Lee was rumoured to have purchased Greece for ex-wife Pamela
Anderson. Most of these are only rumours, though some real
buyers do believe that they have these superstar neighbours.
Roger Federer on his way to The World
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But the man who can verify them, or not, is Hussein Al
Yasiri, Sales Consultant, The World, who has sold most of it,
including all the islands that make up Africa, sold to one buyer
in the largest sale for The World – approximately $1 billion.
“The World is not for your ordinary Rolls-Royce driving, eight-
digit bank account holders. One of the people on The World,
from China, is actually going to recreate China’s most famous
buildings on The World. He is also recreating a Dubai street in
China,” says Al Yasiri, profiling the buyer for us and the visions
that drive them.
Dawood confirms that amongst the buyers are 19 people who
want to call it home, not make it a resort or a public space. These
are private buyers and amongst them there are Arab, European
and Asian royalty, film stars and tycoons. These islands are
located further off from the coast of Dubai.
The islands of The World vary in size between 100,000 square
feet and 450,000 square feet, averaging at roughly 300,000
square feet of rock and sand. Prices range from $10.8 million
to $36 million per undeveloped island. The average price for an
island ranges from $15 million to $50 million, but the total cost
of developing an island is much higher as owners are expected to
provide all necessary infrastructure. The most expensive island
costs $263 million.
Al Yasiri, we are told, has almost unlimited access. He can
even drive into Dubai airport and pick up a prospective buyer.
And who knows, he might have. After all, the people he has
hosted include Richard Branson, Diane Furstenberg and
Cantona. “They are all friends,” he says, rattling off a story about
having met Roger Federer in the men’s room when both of them
discovered that there were no tissues. By the time mutual friend
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“You have to be a member to
enter the island. You have
to be fashionable to be a
member. People ask us who
are your targets, which
segment? And we always
tell them every fashionable
person is our client”
Annie Leibovitz (“she took John Lennon’s last photograph hours
before he died”) formally introduced them, Al Yasiri could
thump him on the shoulder and say, “Oh, it’s you!”
Al Yasiri is the one with stories about what people do when
they first visit their island. He does not tell most of them. The
ones he does are interesting and true. “One guy got into the
water and swam all around his little island. It was a small country,
so he could do that,” he says. “The buyer of Shanghai got real
soil from his country to the island and sprinkled it all over. You
should have seen him standing and throwing sand from his
country on to this island… Another owner, when he first came
to his island after the deal was done by his people, had tears in
his eyes. And, of course, there was Branson who said ‘I stake my
claim on England’,” he tells us.
Isla Moda:
Samira AbdulRazzak
When you have a company named Infinity you can take on The
World. “At Dubai Infinity Holdings our job is foresee trends
coming up in the next 5-10 years and implement them now. We
foresee that luxury and fashion would be in the forefront in the
next five to 10 years. Being in real estate we have combined
the two,” says Samira AbdulRazzak, Chief Executive of Dubai
Infinity Holdings.
The name Isla Moda means an island of fashion, in Spanish.
“We tested the name in the market, everyone liked it. We also
checked with fashion houses in New York, publications, event
Samira AbdulRazzak, CEO, Dubai Infinity Holdings
organisers, marketing agencies. Everyone thought it was trendy.
This was our first and last choice,” says AbdulRazzak.
Isla Moda is to be developed into the world’s first fashion
island. It can be compared to the haute couture of real estate.
The island’s first set of villas will go on sale in the fourth quarter
of this year. AbdulRazzak mentions that it is in the concept stage
right now and work will start in the second quarter of 2009.
“We think fashion is global. It is becoming art. We are trying
to get a total of seven top designers from different continents.
Whether it is villas or interiors, they will have inputs on the
development, while we work closely with the master developer,”
she says.
Isla Moda has finalised four out of seven designers already.
While we are told that there are two from Italy, one from the
US and one from Paris, AbdulRazzak is not willing to name
names. “Each time we finalise a designer, they put a flag on the
island and we take a photo. Designers are very excited with
the concept. This complements their vision and fits into their
expansion plans,” she says.
“Isla Moda will provide a seamless series of intimate experiences
fashioned by the world’s most famous designers, architects, and
fashion celebrities. Residents and members will enjoy a tailored
experience of living fashion, creating fashion, and consuming
fashion,” a statement says.
AbdulRazzak says they have ensured everything is 100 per cent.
“We took fashion houses to the islands and took their feedback on
the concept about the location. It is a very sophisticated industry.
You have to think like them, talk their language,” she says. >
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Bin Hu buys Shanghai. On The world

with Hamza Mustafa, members of his
team and Al Yasiri

Confirmed buyers • Singapore-based Cinnovation Group purchased Nova Island to build a

• Kuwait-based Investment Dar, which has purchased 20 islands that $200 million resort and spa on the development. Nova Island represents
make up Australia and New Zealand to build a $3.5bn resort named the northern Russian archipelago Novaya Zemlya, situated next to
Oqyana. Russia and Serbia.
• Irish business consortium Larionovo has also been announced as the • Dubai Multi Commodities Centre announced its Pearls of Arabia project
buyer of Ireland, which is to be developed into an Irish-themed resort on Antarctica.
called Ireland in the Sun. • North Asia is being developed by World Development Company as a VC
• Chinese businessman Bin Hu, President of Zhongzhou International Bank Resort.
Holding Group, has been revealed as the owner of Shanghai, for which • Brunei is owned by Salya Corporation, which is building
he paid $28 million. FTV Resort.
• Dubai Infinity Holdings announced plans for a mixed-use island • ACI, a German developer based in Dubai, is developing a leisure resort
development, Isla Moda, which will aim to establish Dubai as a global on Ecuador.
“fashion hub”. • Orenburg and Rostov are being developed by Perseus Property
• Beijing, Taiwan and Hong Kong have reportedly also been bought by Management.
unnamed Chinese companies. • Zanzibar is owned by One&Only for a resort.
• Greece was sold for $15.5m to European hotelier Baron Jean van • Turkey is owned by MNG Holding.
Gysel de Meise who said he plans a $170 million development • Thailand is owned by Profile Real Estate. Villas are for sale in Jasmine
on it. Gardens.
• All of the islands that make up Canada and the US have already been • Nakheel is developing its first island on The World, Coral Island, a super-
bought. Europe has almost been sold out. Moscow and Kazakhstan luxury resort on the north coast of Canada. Coral Island covers 7.86m
have also been sold. India has been sold to one of the richest Indians on square feet and is located across 20 connected islands in the North
the planet. Tokyo fetched $45 million. American region of The World.

In keeping with her belief is this: “So the work for Spring
Summer collection of Villas will start in May 2009. We have
three types of units, prêt a porter, haute couture and limited
edition. Each designer will have to design all three. They are
commissioned to design.”
The epicentre of the island will be the piazza playing host
to classic ateliers and masters of fashion, whilst gallery spaces
will combine art and culture. The island will have a 100-room
boutique hotel. Limited edition lines will also be offered to
guests on an appointment basis exclusively catered and designed
for Isla Moda. There will be 170 fashion residences.
Speaking about working with the best designers in the world
whose names will be announced later this year, AbdulRazzak
says: “The biggest challenge was how to bring them under one
roof. We managed that. They like to expend their creativity as
they want. You cannot tell them, ‘You have this box. You have
to do this’. We left the floor open to them. We need a 100 per
cent from them. You need them in the driver’s seat. You have to
be the passenger.”
Designers will be invited to place their wares in boutiques.
Those products will not be available in the rest of Dubai. “What
is the point if a 20-minute boat ride can get you the same things
anywhere else?” AbdulRazzak says.
And who is the customer? That criterion is taken care of.
AbdulRazzak says: “You have to be a member to enter the island.
You have to be fashionable to be a member. People ask us who
are your targets, which segment? And we always tell them every
fashionable person is our client.”

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Aquitainia: Mark Stott,
Rahail Aslam
Mark Stott, Managing Director, Select Property, together with
Rahail Aslam, Chief Executive, Select Group, owns Spain and
France. Their plan is to unite the two under a project named
Aquitainia. “It is an ancient name for the two countries,” Stott
says. And if there is irony in the fact that two Englishmen are
buying Spain and France, the duo is not unaware of it. They
celebrated its purchase with two castles on the sand and had
themselves photographed having high tea on beach chairs, with
their suit trousers rolled up. A butler served it. Stott says that
the requirement for owning an island, or two, is to have a sense
of humour, a passion for Dubai and a vision.
Aquitainia, which allows you to lunch in Spain and dine
in France, is going to link the two with a pedestrian bridge.
Apartments, townhouses and water-villas, a French restaurant,
spa and boutique hotel are some of the highlights of the
development. The 75-room hotel is to be operated by a global
brand. And a 200-berth marina will accommodate residents
and guests’ boats. According to a statement: “A well known,
Michelin star chef in the UK is in line to front the restaurant to
be named Aquitaine.”
Aslam and Stott having high tea on their islands
Stott says: “There is scepticism about whatever Dubai has
achieved. At the start, people find it unbelievable. But then
Dubai makes it possible. And I believe this is the highest and
boldest of its achievements.”
Never mind that the sand castles aren’t actually made of sand.
They are symbols. And not only do they work, they also last.
“Someone else made them and they are made of polystyrene so
they last longer,” Stott says.
It is still not the strangest experience of his life. “When I visited
the islands for the first time, it was the most surreal experience of
my life. I was in South Africa – then, five minutes later, I was in
Cuba. And for the first time in my life I felt that I could swim the
Atlantic. I am trying to get my partner to do it,” he says.
Was he invited to buy? “Yes,” says Stott, adding that the
master developer carefully checks credentials before it allows a
purchase and Select has already cut its teeth on four off-plan
developments in Dubai Marina. “Even if you say it is only a
marketing gimmick, they are going to end up with the best.”
One of the things they say about owning a private island
from amongst 300 is that you’d better learn to live with your
neighbour. With “Greenland” next to him, Stott has no worries
on that score. “There are various rumours about who owns >
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the show villa. I would be very happy to have the ruler as my
neighbour,” he says.
Pangkor Laut
If you are given carte blanche to not only build but even shape
the very piece of land that you have to build on, why not use
it? “We just got five pieces and we worked to shape them into
one project. We found that if we created two sea horses looking
at each other, it would suit the shape very well,” says architect
Kamal Agostine, the managing partner of Agostine and
Raphael Group.
Agostine is working closely with City-D Development, a
company known for its luxury projects in CIS countries, for
Pangkor Laut, which takes its name from a resort on a privately
The World at night. A rendering
PLANS
Low density islands are located at the perimeter of the master plan to ensure
maximum privacy with open vistas to the large water bodies allowing for
convenient access for mega yachts and other large vessels.
Resort islands are dedicated to hotel and resort developments and may
also include residential and limited commercial uses; land parcels are
conveniently located near marinas, providing the ideal location for intimate
boutique hotels, spa sanctuaries or world-class resorts.
Mid high density islands are low-rise, mixed-use communities complete
with commercial offerings to meet the needs of residents, whether it is a
full-time or vacation home.
Commercial islands are strategically located adjacent to major transportation
centres or navigation channels and will offer an array of retail venues,
including fine dining, canal seaside cafés, and leisure options for residents
and guests.
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Stott says that the
requirement for
owning an island,
or two, is to have
a sense of humour,
a passion for Dubai
and a vision
Transportation
The World master plan incorporates a network of canals that allow access
to every island and defines the overall traffic order. The canals represent the
‘streets’ or ‘waterways’ and have a draught of four to five metres allowing
ships up to 200 feet to navigate the interior areas of The World. The
network of canals provides a comprehensive system of access ways to the
islands that will service customers, visitors and services, while not intruding
on island privacy. So be prepared for service canals rather than service lifts.
Water taxis and ferries will handle a large portion of the transportation;
however, it is also anticipated that a majority of property owners on The
World will own or operate a boat. There are four distinct strategies to meet
marina demand on The World: Island Marinas will service estate or customers
of resort islands; Commercial Marinas are situated along the open water or
major waterways and have the capability to integrate larger marinas; Public
Transportation Hub Marinas comprise the space to accommodate public
marinas with a percentage of berths designated for island owners; Mainland
Hub Marinas will accommodate various requirements of The World such as
vehicle parking with a designated number of slips available to customers
who require a permanent mainland dock.
Hubs
Hubs provide the major transportation and logistics centres; commercial
focus for convenience shopping and amenities; accommodation of the
major commercial marinas; and locations of the islands’ critical public
services such as security, emergency services and health care facilities. They
are located 15 minutes from any island.
Utilities
Utility services will be provided to each island from central and regional
plants. A centralised system will provide basic services to residents of The
World by way of utility plants located at service hubs. However, each island
may be responsible for their individual connection to the distribution and
collection mains.
This system comprises two central plan sites for water and power located on
opposite ends of The World. Combined sewage system and reuse systems
will also be located strategically where reuse demand will be high.
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The sea horse shaped islands
owned island located three miles off the coast of Malaysia. “We
have been operating on an island for more than 25 years,” says
Carl Kono, Executive Vice President, Operations at YTL Hotels
and Properties, which manages Pangkor Laut. “The difference
is that in one you live with the geography that you have, in the
other you can even put in all the infrastructure as you build,”
he says, speaking of the luxury development that will see five
islands come together as Pangkor Laut Luxury Resort, Residence
& Spa Village, a five-star multi-module resort property.
The Pangkor Laut Luxury Resort will offer 120 deluxe guest
rooms, 20 fully equipped luxury beachfront villas, shopping
The Octopus as the hub
gallery, restaurants, aqua park and an underwater nightclub – a
first for Dubai.
The residential component, Pangkor Laut Luxury Residence
& Spa Village, will consist of 92 apartments, 20 attached beach
villas with private pools and 28 independent luxury villas with
private marinas. A community club, a spa village, a gourmet
food boutique are some of the highlights of the resort.
“There were several guiding principles in the design. One of
them was that water naturally shapes things, second was that
we wanted to maximise the edges. We wanted the residents
and guests to be able to see water at all times. We also wanted
to create another world so we build a lagoon inside. The
beating heart of the property is an Octopus-shaped building,”
Agostine says.
The result is a resort that seems to float. There are suspended
gardens and you can actually jog from one part of the resort to
the other, if you so wish. Says Agostine: “The eye should not get
bored, so we ensure that you have different scenic views at each
turn. And once you are in the underwater nightclub you may as
well be living in an aquarium.”
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