A project milestone not only for the Kleindienst Group but for the entire World archipelago, Chief Executive Josef Kleindienst was joined by Nakheel Executive Chairman H.E. Sultan Ahmed bin Sulayem for the official ground breaking ceremony.

Construction has started just one week after FCG’s appointment, confirming earlier claims by Kleindienst that offshore logistical requirements of developing on The World will not hinder progress.

“Exactly two months ago we launched Germany Island with a clear promise to start construction in Q1 of 2010. I am very proud to say we are delivering on that promise. Today FCG started critical foundation stabilisation work. By the end of this year you will start to see the first villas on The World, one of which will be my own home,” said Kleindienst.

“While we are the first developer to begin construction, we are aware of several more that are not far behind us. The World project is very real, it is taking shape as we speak and I firmly believe that when complete it will become the most expensive property in the emirate of Dubai,” he added.

Commenting on the Kleindienst ground breaking, H.E. Sultan Ahmed bin Sulayem said, “On behalf of Nakheel and everyone involved in the creation of The World, I would like to congratulate Mr Kleindienst on this important milestone. We look forward to the successful development of Germany Island into another world class destination in Dubai.”

The soil improvement operation, called ‘vibro-compaction’, involves the use of electric depth vibrators that mechanically agitate and lock the sand particles together down to seabed level (a depth of 18 – 20 metres), to ensure that all construction on the island is stable and sound. The technique is recognised internationally and is a standard procedure in the densification of reclaimed land.

Since The Heart of Europe launched in December 2009 Kleindienst Group has sold 11 villas on Germany Island.

The paper quotes the company response as, ‘Nakheel continues to evaluate its projects and commitments against market conditions and opportunities. In doing so, the company also evaluates its cost base and efficiencies.’

Nakheel Properties is a state-owned property developer. Major construction projects include the Palm Jumeirah, Palm Deira, Palm Jebel Ali, The World, Jumeirah Islands, Ibn Battuta Mall, Discovery Gardens, International City, and Al Furjan.

In 2007 Nakheel purchased the famous ocean liner from Cunard and planned to anchor it at the Palm Jumeirah. She arrived in Dubai at the end of 2008 and is currently moored at Port Rashid.

The development on the trunk of the artificial island includes 860 residential units (one, two and three bedroom apartments, plus townhouses and penthouses). It is a joint venture between Nakheel and IFA Hotels and Resorts (IFAHR).

All residences will be managed by the Fairmont Palm Hotel, scheduled to open in 2010.

IFA HR recently introduced a scheme allowing Golden Mile owners to either occupy their apartments or lease them through IFA HR.

The driverless light rail system travels runs along the trunk of Nakheel’s artificial island, from the Gateway Towers station to Atlantis.

A round trip costs Dh25 and a single Dh15.

In April 2008 the Dubai-based property developer unveiled plans that would make it the largest shopping mall developer and owner in the Middle East by 2012, and one of the largest in the world by 2018.

5 mega mall projects were announced, offering a total retail space of 13 million square feet:

• Palm Mall – Palm Jumeirah
• Palm Mall – Palm Deira
• Ibn Battuta Mall Phase II – doubling the size of the Ibn Battuta Mall
• India Mart – International City
• Great Dubai Mall – International City

The handover of more than 900 apartments will begin in April 2009.

The Marina Residences are located at the tip of the trunk of the Palm Jumeirah and consist of 6 luxury residential towers, each with direct access the exclusive Anchor Marina.

Nakheel and the Busch Entertainment Group have delayed the projects for at least one year.

Nakheel recently announced delays on several other major projects, notably the Trump International Hotel on the Palm Jumeirah and the Nakheel Harbour and Tower.

The company has sold over 96 percent of villas and townhouses at the development and expects more than 2,200 properties to be handed over to residents by the end of 2009.

Marwan Al Naqi, General Manager, Jumeirah Village, said ‘We extend a warm welcome to our new residents here at Jumeirah Village, a development that offers a strong sense of community at the geographic heart of Dubai. By implementing a quality plan we have set a bench mark to ensure that all Nakheel products are handed over in the highest standards we can achieve. The first words that come to my mind as we start the handover of 300 villas are very worthwhile. To be able to witness first hand how teamwork and dedication can turn the completion of a vision into reality is remarkable.’

Jumeirah Village is a residential and commercial development situated between Emirates Hills and Dubai Sports City. It features 2 areas:

• The Circle – comprised of commercial, residential and retail components
• The Triangle – predominantly made up of villas, surrounded by 30-35 level residential towers

Completion is expected in 2013.

Nakheel announced that the monorail will open to the public in April 2009.