The World islands revealed

In a world exclusive ArabianBusiness.com has published the first photograph of The World islands in Dubai following its completion on Thursday after five years of development.

The release of the first aerial photograph of The World, 300 manmade islands built off the coast of Dubai, is in anticipation of a prestigious multimedia special report ArabianBusiness.com will be publishing about the project in early February.

The last rock for the project was placed on the 27-kilometre breakwater which surrounds The World on Thursday, marking the completion of the first phase of one of the world's most exclusive real estate development projects.

Invitations to purchase on The World are by invitation only, with 60% of the islands already sold by January.

The cost of the islands average between $15-$50 million, but the most expensive costs around $250 million.

The World islands were 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.

The first sand for the project was poured in September 2003, with 320 million cubic metres of sand now dredged from the sea as part of the land reclamation for the project.

The next phase of the project involves handing over islands to developers for construction and the building of infrastructure.

COMING SOON: ArabianBusiness.com will be launching a world-exclusive Special Report about The World.