Dubai: Is “The World” Sinking?

There is a general consensus among media reports about the billion-project “The World” that is literally to sink if nothing happens soon. The excessively hailed idea to sell 300 artificial islands off the coast of Dubai to the super-riches from all over the world seems to pass through a critical stage at the moment. Strong ocean currents, storms and other natural processes are responsible for the cracking of the fortresses of the islands and these dream islands are threatened to sink into the sea. Reportedly, Dubai’s investor Nakheel has already spent around 25 billion US dollar for the region’s important prestige project … however, this seems to be too little to be able to do something against the relentless forces of nature. Furthermore, Nakheel still has to deal with the consequences of the financial crises: with property prices reduced to half of the price during the last months and investors who leave Dubai looking for other possibilities … (eap)