Malaysian resort planned on The World

ASIAN RESORT: A luxury resort modelled on Malaysia’s Pangkor Laut Resort will be constructed on The World.

A luxury resort modelled on Malaysia’s Pangkor Laut Resort will be constructed on The World, the islands' developers announced on Wednesday.

City-D Development have launched sales for the 5-star Pangkor Laut Luxury Resort, Residence and Spa Village, which will be managed by YTL Hotels & Properties.

Sofia Zigangirova, CEO of Stars Dome Realty, the resort’s Dubai property agent, said Pangkau Laut will offer a “new dimension” of luxury to the emirates’ real estate market.

“The resort development on The World offers investors and guests a unique opportunity to experience island lifestyle on one of the most iconic projects on the planet,” Zigangirova said in a statement.

City-D Development will construct the resort on a 1,600,000 square foot island plot in the heart of The World, and will offer a five-star hotel and luxury residence, spa facility, marina and leisure facilities.

The resort comprises 120 deluxe guest rooms, 20 luxury beachfront villas, an aqua park and an underwater nightclub which is a first for Dubai, she added.

The residential component, Pangkor Laut Luxury Residence and Spa Village includes 92 luxury apartments, 20 attached beach villas with private pools, and 28 independent luxury villas with private marinas.

All the transportation needs will be served by Majesty Yachts, she added. City-D Development did not reveal the value of the project, or the purchase price of the island.

Islands on The World, located four kilometres offshore from Dubai, are being offered for sale on a freehold basis to selected investors, and are only accessible by marine or air transport.

The average price for an island ranges from $15 million to $50 million, but the total cost of developing an island is much higher as owners are expected to provide all necessary infrastructure. The most expensive island costs $263 million.

Around 50% of the 300 islands that make up The World have been sold so far. Some of The World islands represent countries, while others represent cities.

Nakheel, part of state-owned conglomerate Dubai World, has remained tight-lipped about many of the islands' owners, and numerous high-profile celebrities, businessman, royalty and sports stars have been linked with the development.

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