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Fashion TV islands on The World ruled out
UK-based developer Salya said on Monday the design and concept of two islands it has purchased on The World were still under review and would not be fashion islands as previously reported.
UAE daily Emirates Business 24/7 said on Sunday the developer had bought the islands of Finland and Brunei and planned to transform them into Fashion TV (FTV) branded resorts, citing a company official.
Both Salya and Nakheel, master developer of the manmade archipelago, confirmed the purchase of the two islands, but said the concepts had yet to be approved.
“While Salya World Island has bought two islands on The World, their concepts are still under development and pending approvals,” Salya said in a statement to ArabianBusiness.com.
“However, we can confirm it is not related to any theme or concept related to fashion or Fashion TV islands. We are in touch with the master developer and will bring out an amazing development shortly."
A spokesperson for Nakheel added: “We can confirm Salya has bought two islands, but there will be only one fashion island on The World.”
Dubai Infinity Holdings (DIH) in January announced plans to launch fashion island Isla Moda on The World.
RELATED: Dubai to build first fashion island
DIH said it intended to develop a fashion resort, themed residential villas, haute couture boutiques and luxury hospitality facilities on Isla Moda.
Salya has several subsidiaries based in Dubai, including Salya Homes Dubai and Salya World Island.
The group has so far invested 800 million dirhams in 14 projects across Dubai, including the Mario Valentino Boulevard at Down Town Jebel Ali and Giovanni Boutique Suites at Dubai Sports City, and plans to invest 4.2 billion dirhams over the next 18 months.
To view the ArabianBusiness.com special report on The World, click here.
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