Work to construct offshore palm islands in Dubai may take two decades to complete, developers admitted this week, with future phases set to be held back because of uncertain market conditions.
A spokesman for Nakheel, developer of the completed Palm Jumeirah, the nearly complete Palm Jebi Ali "World" development and the partially complete Palm Deira, told NCE: "The scope of our projects is going to change with the market conditions now."
This came amid reports this week that work on Palm Deira, off the east coast of the city, which is already 36% complete, wasbeing suspended. A source close to the project denied that works were being suspended and told NCE that dredging for phases two and three of the project would continue as planned, but that later phases could be held back.
The reclamation works for the first island of the Deira development have completed and building works are beginning. The first of three land bridges connecting the island to the mainland have been completed.
Preliminary work are complete on the 300 islands shaped as "The World" with Nakheel now set to handover islands to owners/developers. "We will be handing over 40 islands this year and 90 next year," said the Nakheel spokesman.
Most of the islands, ranging from 13,935 m2 to 41,806 m2 have been sold except for some islands depicting countries in South East Asia and northern Russia, the spokesman added.