Dubai doesn't have the lock on famous housing developments. An artificial island near Valencia Spain, near the Malvarrosa Beach, is meeting the next big location to fill the demand for water front properties. Spain's coastline is heavily built up, and developer Redis 6 is behind this new activity.
Implications - As the global population continues to grow, finding more space to develop both commercial and residential buildings becomes somewhat of a challenge. Developers seeking to get ahead of their competition have the option to explore by creating their own land mass on which they can construct a potential neighborhood. Doing so will allow them to create a unique environment that many will want to live in.