$22 million 'daycation' island offers a taste of the Mediterranean in Dubai

Investors are free to acquire the island to use as a private retreat or for commercial purposes
$22 million 'daycation' island offers a taste of the Mediterranean in Dubai
Lebanon Island at Nakheel's The World is is up for sale for $22 million
By Shayan Shakeel
Mon 27 Aug 2018 12:52 PM

The only part of Dubai’s The World Islands development open to the public, Lebanon island, is up for sale for $22 million (AED80m).

Known as a ‘daycation’ spot since 2014, the island sits four miles off Dubai’s coast and comes with a private beach club, an 80-seater restaurant, dance floor, licensed bar and a swimming pool area large enough for 250 people.

The buyer will also be able to take advantage of several single-storey private chalets, VIP cabanas, and two beaches, as well as a private jetty for yachts and seaplanes.

The sale is  handled by Dubai-based real estate agency Allsopp & Allsopp, who said the island has been completely refurbished and presents “a unique resort and residential investment opportunity,” for investors who are free to convert the property into “a private retreat for an individual, or perhaps an exclusive resort offering from an upmarket hotel chain,” CEO Lewis Allsopp told Arabian Business.

In addition, the new Heart of Europe development on The World Islands could serve to boost Lebanon’s appeal, added Allsopp.

“The Heart of Europe is going to compliment Lebanon Island very well. There will be a vast increase of people on the world islands and few things will be as attractive as island hoping to the local beach club to catch some rays and enjoy some food and drink. The Heart of Europe will also bring increased interest and increased visitor levels, all of which is going to be fantastic for Lebanon Island,” he said.

“We are experiencing a wide range of interest from people looking to take over the running of the existing beach club, to some high-profile individuals who are considering purchasing the island and building a large residential home or palace,” he added.

Investment infrastructure spend by the island’s original buyer in 2008 totalled roughly $17m before the island was sold in 2014.

The current owner “is looking to release the equity that he has invested in the Island,” according to a statement sent out by Allsop.

 

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