Islands in the sun

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Wall Street has collapsed, the UK is in recession and Europe is on the brink, but how has the current economic crisis affected The World?

‘Four kilometres off the coast of Dubai, lies an elite man-made community of 22 islands', reads the press release.

I can almost hear the American movie announcer guy's voice in my head reading the tagline of a dramatic new film, in which a new species will emerge from said islands and wreak havoc on Earth.

And then I realise it's Dubai. To be precise, the elite man-made community in question is Qqyana, the Australasian arm of The World.

The multiple islands constitute the largest cluster of the ambitious Nakheel project located slap bang in the middle of the ocean, and will form the shape of Australia and New Zealand.

Derived from the Arabic word ‘Oceania', Oqyana is touted as one of the most impressive lifestyle destinations on the planet.

Five hotels, 2000 apartments, 200 villas which will boast beach frontage on one side and private yacht berths on the other, a snorkeling Reef Lagoon (on the Great Barrier Reef island, of course) and an endless list of the obligatory designer eateries and boutiques. A mammoth project indeed.

There has been all number of reports about stages of development of the project, including delays due to ongoing credit crisis, so it's time to get an update in person. I'd already seen it from the air.

When I swooped over it by helicopter some months ago, the entire World looked like, well, sand. This time I'm being taken out by speedboat to view Oqyana in all its glory, up close.

Completing construction on Oqyana is predicted to take three years, I'm told by our host. Deadlines have been put back and it's hard to get an exact answer as to when construction will actually begin.

So where is it all at, I wonder as we speed across the glassy, aquamarine waters that lead to The World.

It is a question on the mind of a gentleman I'm seated next to on my journey. He bought an apartment on Oqyana's Fraser Island (the real thing in Australia is the largest sand island in the world) in 2005, with the intention of renting it out as a holiday destination upon completion.

"How's development going?" I ask gingerly, as the barren clusters of islands come into view. "Too slow," he says rather sadly, shaking his head.

The good news, he tells me, is that his investment has doubled in price, even though it is currently invisible.

It turns out, contrary to reports, that my fellow guest won't have the Australian golfer Greg Norman as a landlord. Incorrect rumours that the ‘Great White Shark' bought the entire continent some time back have now been vehemently denied, although our host does say Norman may have purchased another island.

Celeb connections are still coming thick and fast and it all helps publicity even if the rumours aren't true, a PR admits. For their part, Nakheel will never confirm any rumours to the affirmative or negative unless they feel like it, she says.

Rumours still persist that Angelina Jolie has bought an island, but which one is under wraps. At least we can count on her cluster being eco-friendly if partner Brad Pitt has anything to with it, thanks to his upcoming involvement in designing a new environmentally friendly hotel in Dubai.

"Even we don't always get a straight answer how much of The World has been purchased," interjects another guest. Vince Easton is a sales director with Sherwoods Independent Property Consultants and has had dealings with a number of other islands of The World for investors. This is merely a sightseeing trip.

"Nakheel are very good at marketing," he smiles. "It's opaque in terms of knowing what exactly is sold."

There's little sign of action as we begin to weave through the continents. All look identical from side on - mostly flat sand masses, piled up in some parts, and little else. They almost resemble what I imagine the surface of the moon might look like.

The sand looks quite dirty, the result of the construction mix added to it in preparation for vibro-compaction, so that it may be built upon. Some far off islands still have dazzling white sand and I assume these are at an earlier stage of construction.

It's hard to tell when there's no sign of life doing anything about it. Today is Tuesday, a normal working day of the week in Dubai but there is no one, and certainly no signs of construction, to be seen. Not a good sign, one can only conclude.

We approach Latin America first, which is owned by Sheikh Mohammed Bin Rashid Al Maktoum. I'm surprised to see a handful of white tents pitched on one corner and all the guests onboard crane their eyes for signs of life. "Maybe the Bedouins were given an island of their own," suggests one.

Antarctica is next. "I thought it was getting colder," jokes Easton. With nothing to see or any way of distinguishing each island from the next, making up our own jokes is about all we can do.

Finally we reach Oqyana. A flagpole confirms our destination, but only a sorry looking withered white piece of material flaps in the breeze. Apparently an Australian flag was hung there not so long ago so it's a bit of mystery as to how the change occurred.

A major advantage of Oqyana's location is that it is located very close to the 27 km breakwater wall that surrounds The World, and is situated by two of the five breaks in the wall for ferry access so it is easily and quickly accessible from the mainland.

It also has a plum position at the bottom of the ‘map', which boasts an unobstructed and quite beautiful view of the Dubai skyline.

Reclamation for the Oqyana development is now complete. The resulting islands are embedded into four separate land masses that will soon serve as construction platforms.

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