Thailand on The World project on hold

Plans to develop a Thai-themed island resort within The World archipelago off the Dubai coast have been postponed, according to the design consultant on the project.

Development firm Profile Properties had taken the decision to put on hold Jasmine Garden, a residential and health resort project situated on the Thailand island of The World, said Carmi Flores, project manager and consultant director for US firm Bermello Ajamil & Partners (B&A), lead design consultant for the development.

She said infrastructure work on the development would continue but the schematic work was on hold. It would be at the discretion of Dubai-based Profile Properties when work restarted, she added.

When approached by Arabian Business, Profile Properties refused to comment on the situation involving the project.

Dubai master developer Nakheel, which is overseeing the development of the man-made The World, handed over the island to Profile Properties last year.

Inspired by Thai architecture, plans for Jasmine Garden include a mixture of 18 beach or water-side villas, 56 studio suites and 56 one-bedroom duplexes.

A spa, ten private yacht berths, a Thai restaurant, an international delicatessen and a mini market would also be situated on the island, which stretches across 273,000 square feet.

The total development cost of the project had been estimated at $110m, with the original date for completion slated as 2011.

Set up in 2003, Profile Properties offers off-plan and completed residential and commercial units including properties within the new Dubai Sports City development.

Designed and constructed to represent a map of the globe, The World is one of the best-known projects in Dubai, involving the creation of more than 300 man-made islands 4km off the coast.

The entire development was first announced by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on May 6, 2003.

Despite announcing delays to other projects, Nakheel said in November 2008 work on The World would continue as planned.

Nakheel, owned by state-backed investment group Dubai World, has already said it was stopping foundation work for 12 months on Nakheel Harbour and Tower, which is destined to include the world’s tallest building when completed.

It announced late last year it was delaying several of its flagship projects, including the Trump International Hotel and Tower, in addition to axing 500 jobs.

The impact from the global credit crunch has led to a number of cancelled and delayed projects in Dubai following a six year property boom.

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