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The Waterfront project stalled with the onset of the Great Recession and Dubai World's debt crisis in 2009. Nakheel was forced to restructure over $11bn of debt and scale back many of its projects. In December 2011 Nakheel advertised for sale 13 unused construction cranes intended for use in the Waterfront project.
The World Islands are composed mainly of sand dredged from Dubai's shallow coastal waters and are one of several artificial island developments in the emirate. [1] The World's developer is Nakheel Properties , and the project was originally conceived by Mohammed bin Rashid Al Maktoum , the ruler of Dubai.
Deira Islands were developed to include the Deira Night Souk, Deira Mall, and Deira Island Towers and Boulevard on the islands to develop it into a shopping, retail, and housing waterfront. [1] The project added 40 km (25 mi) of coastline and 21 km (13 mi) of beach to Dubai.
Dubai Waterfront was expected to become the largest waterfront and largest man-made development in the world. The project was a conglomeration of canals and an artificial archipelago; it would occupy the last remaining Persian Gulf coastline of Dubai, right next to Palm Jebel Ali and the Dubai-Abu Dhabi border.
The project is part of a major overhaul of the waterfront Marasi Marina neighborhood in Business Bay, a new high-rise development on the Dubai Creek, south of the city’s downtown area. It is ...
A private Island of 1,500,000 square feet (140,000 m 2) - to the south west will be exclusive and contain 140 luxury apartments, a marina and a boutique hotel. [ 4 ] A convention centre, restaurants, three additional hotels which will add 2,400 rooms to the city facilities and shopping outlets are included in the project.