Right now, the first project is underway in Cancun, Mexico. It's called the "Maya Hotel" due to open in 2010. Future plans include office space, industrial units, dormitories and much more.
Implications - If land development wasn't enough, Swedish company Oceanic-Creations has just released its plan to build both commercial and residential floating buildings all over the world. Starting with a floating pyramid hotel, which they have named "Maya" and is projected to cost a whopping $200 million, the company promises futuristic buildings that epitomize luxury and comfort.