The Reef Island is a man-made paradise in Bahrain which will include more than 1,300 luxury homes.
The 6.23 million square foot (579 thousand square meters) island, which is currently being built, is estimated to cost US$1.2 billion. The first phase is expected to be complete by 2009, the second by 2010.
The island previously in its place was Lulu Island, but the relaunched version will be far more opulent and have amenities like a shopping mall, exhibition center, marina, yacht club and a ton of green space which will compliment a beautiful lagoon. There will be only one high rise in the Lulu Tourism Company's project, the other towers no taller than 13 floors.
"Lying off the shores of Manama, Reef Island will include a total of 1,217 apartments among 39 residential buildings, 65 villas, 49 chalets and a 250-room 5-star hotel & spa," the Reef Island site details.
"We have renamed the project Reef Island in order to differentiate it from several other projects which also go by the name Lulu," said Robert Mouawad, Chairman of Lulu Tourism Company. "We believe that the new brand emphasizes both the development's uniqueness and beauty," he continued. "Reef Island will have a central location, 15 minutes from the airport, 5 minutes from the business district, and just a few minutes from Financial Harbor and central Manama. Yet due to its unique spacious designs it provides an environment as if you are living outside the city. We plan to provide a financing scheme shortly to facilitate the purchase of apartments."
Man Made Luxury Islands
Reef Island in Bahrain
Trend Themes
1. Luxury Island Developments - The trend of creating man-made luxury islands with high-end amenities and residential properties presents disruptive innovation opportunities in the real estate and tourism industries.
2. Integrated Green Spaces - The integration of extensive green spaces within luxury island developments offers disruptive innovation opportunities for landscape architecture and outdoor recreation industries.
3. Centralized Location - Developing luxury islands with a centralized location near major transportation and business hubs presents disruptive innovation opportunities in the transportation and hospitality industries.
Industry Implications
1. Real Estate - The real estate industry can explore disruptive innovation opportunities in creating high-end luxury island developments with unique features and amenities.
2. Tourism - The tourism industry has the potential to leverage the trend of luxury island developments to attract affluent travelers seeking exclusive and opulent vacation experiences.
3. Landscape Architecture - The landscape architecture industry can reimagine the design and integration of green spaces within luxury island developments to enhance the overall aesthetic and environmental sustainability.