Dubai's uber luxurious man made island, the Palm Jumeirah, is nearing completion. The island will be an offshore city with space for 60,000 residents and 32 hotels. The project cost $14 billion, and is part of Dubai's quest to surpass Las Vegas as the world's leisure hub, and Hong Kong / Singapore as the world's business hubs.
From AP:
DUBAI, United Arab Emirates - With 14,000 laborers toiling day and night, the first of Dubai's three palm-shaped islands is finally about to get its first residents.
The Palm Jumeirah, a 12-square-mile island group, is part of what's billed as the largest land-reclamation project in the world, the product of five years of brute hauling of millions of tons of Persian Gulf sand and quarried rock.
On Nov. 30, the palm will open to some 4,000 residents, said Issam Kazim, a spokesman for Dubai's state-owned developer Nakheel.
Why This Trend Is Growing
- Luxury Island Living
- The completion of Dubai's Palm Jumeirah offers an opportunity for innovative luxury residential developments on man-made islands.
- Land Reclamation Projects
- The success of Dubai's Palm Jumeirah demonstrates the potential for large-scale land reclamation projects as a solution for crowded coastal cities.
- Leisure and Tourism Competitiveness
- Dubai's quest to surpass Las Vegas as the world's leisure hub highlights the need for disruptive innovation in the tourism industry.
Industries Being Reshaped
- Real Estate Development
- Real estate developers can explore opportunities to create luxury island living experiences, leveraging the success of Dubai's Palm Jumeirah.
- Construction and Infrastructure
- The completion of the Palm Jumeirah showcases the potential for growth in the construction and infrastructure industry, especially in large-scale land reclamation projects.
- Hospitality and Tourism
- The race to become the world's leisure hub presents an opportunity for the hospitality and tourism industry to create unique experiences and attractions.
