Dubai World news

Work to start on The World’s Germany in 2010...

The Kleindienst Group is due to commence construction on the island of Germany on Nakheel's The World project in the first quarter of 2010, the company announced on Tuesday.

The island of Germany is part of the Kleindienst Group's ‘The Heart of Europe' project which includes six islands on the archipelago located around 4km off the coast of Dubai.

According to the company's website, ‘The Heart of Europe' will include a part of the Netherlands Island with a leisure area and its own beach, which will be called Amsterdam, a luxury shopping arcade and two 5-star hotels in an area to be called St Petersburg and a dolphin pool on the island of Austria.

Land reclamation on The World was completed in January 2008. Developers of islands in the ambitious scheme postponed work and withdrew off-plan sales in the wake of the financial crisis, but by summer 2010, under-construction apartments and villas are poised to go on sale, it was reported in October.

Real estate companies tasked with selling units on Spain, France and Kazakhstan said they hoped by then there would be a renewed appetite for off-plan investment.

Construction is due to commence on island of the Germany in the first quarter of 2010, Kleindienst said.

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