Overseas Property Blog :: guide to international real estate investment

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If you build it they will come.

It seems to me, the Dubai city planners may have watched the Kevin Costner movie, “Field of Dreams,” one too many times. But they weren’t far wrong. They did build it and they did come. In fact, they are still coming and the planned developments over the next few years should bring even more. I found some interesting photos of Dubai which show the development over the last few years. The first one is taken in 1989 and the second in 2005. Spot the difference? There has been quite a stunning amount of development in Dubai, and these two photograph, seen together, graphically demonstrate that fact. The next few are some projections of future developments. It’s hard to see an end in sight, with the ‘Palm Islands” and “World Archipelago” developments pushing the boundaries even further.

Dubai 1989:

Dubai 2005:

Future Dubai:

The Palm Islands:

The Palm Islands are technically artificial peninsulas constructed of sand dredged from the bottom of the Persian Gulf by the Belgian company Jan De Nul and the Dutch company Van Oord. The sand is sprayed by the dredging ships, which are guided by DGPS, onto the required area in a process known as rainbowing due to the way the sand arcs when sprayed. The outer edge of each Palm’s encircling crescent is a large rock breakwater. The breakwater of the Palm Jumeirah has over 7 million tons of rock. Each rock was placed individually by a crane, signed off by a diver and given a GPS coordinate. The Jan De Nul Group started the work on the Palm Jebel Ali in 2002 and finished by the end of 2006. The reclamation project of the Palm Jebel Ali includes the creation of a 4 km long peninsula, protected by a 200 m wide and 17 km long breakwater built around the island. 135,000,000 m³ of rock, sand and limestone were reclaimed (partly originating from the Jebel Ali Entrance Channel dredging works). The slope protection works for the crescent include approximately 5,000,000 m³ of rocks.

World’s Islands:

Rumors about celebrity purchases of the islands on “World’s Islands” have been rife since the development’s announcement. David Beckham, Rod Stewart, Richard Branson are all rumored to be investing in an island. Although Michael Shumaker was given one by Dubai’s Crown Prince Generak Sheikh Mohammed bin Rashid Al Maktoum. One of the few confirmed developments is the purchase of 14 islands that make up Australia and New Zealand by Investment company Dar. The islands are being terraformed to the investors specifications to create 19 islands, to be developed as a resort named OQYANA.

Irish business consortium Larionovo has plans to develop the ‘Ireland’ island into an Irish-themed resort. The plans include a large internal marina, apartments and villas, a gym, hotel, and Irish-themed pub. In July 2007 it was announced that ‘Ireland’ Island would feature a recreation of Northern Irelands’ famous Giants Causeway. Keep on building, they’ll keep on coming.

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  • http://realestateinscottsdaleaz.com Phoenix az real estate

    Thanks for sharing the pics. It’s absolutely amazing the difference made in less than 20 years.

  • http://www.MortgageRatesReport.com Brian Brady

    Dubai looks like the Strip in Vegas- just 40 year behind.

  • http://www.horizon-consultancy.com Eric S Doms

    Is it just me, but does the fact that there is 1 sole person (ie.the Sheik), who can wake up one day and say, ‘All westerners out, otherwise they get their hands chopped off and with it, they lose their properties without compensation’??

    Or do you think that there has been so much done since 1989, that this will never happen?

    Any comments?

  • Overseas Property Mall

    Dubai is in the position of running out of oil within the next ten years. My thinking is that, at the moment, there is very little tax in Dubai, but in the future that will change. Dubai will need revenue from another source and having millions of ex-pats living or owning property there will be that source. So, I believe the chances of being thrown out are low, but the chances of being heavily taxed on property owned there is high.

  • http://www.overseaspropertymall.com/regions/middle-east-property/uae-property/tallest-buildings-in-the-world/ Tallest buildings in the World – Overseas Property Blog :: guide to international real estate investment

    [...] on from a look at the development in Dubai over the last few years, (If you build it, they will come) here is a closer look at one of the major new developments currently underway. Construction of the [...]

  • http://www.dubaiasitusedtobe.com Len Chapman

    Dubai has been “under development” since the early 1960s. I have some photos of that time on my site that show how Dubai used to be before “New” Dubai appeared.
    Dubai’s growth is based on trade and always has been. It needs people to sustain and grow its trade.

  • http://yahoo.com justin

    omg i love the design my name is justin wiesner im am 12 i want to be an architect when i grow up one day i will be living there

  • http://yahoo.com justin

    hi my name is justin wiesner i am 12 and i want to be an architect when i grow up i know your probably thinking i`m too young well one day i will be living on one of the islands

  • http://www.propertyportal.ae/ Laura

    The Dubai property market is still gorwing at a phenomenal pace some of the projects that people we saying would never be completed and we just a dream have tennants now moving in.

    Some of the projects recently announced are breathtaking.

    Visit us for more info.

  • James in DC

    The flaw with this plan is that oil will be gone everywhere and the global economy is going to come to a screeching halt without it. Even if we come up with alternative energies it will be impossible to fly a plane on a battery. Read “The Long Emergency” by Jim Kunstler

  • http://www.overseaspropertymall.com Overseas Property Mall

    @James, just read some reviews of “The Long Emergency”. Looks very interesting & I’m going to order a copy.

  • http://salepale.com Kay Altos

    The Palm Islands are the most exciting project on earth.

  • Mark Walker

    What Larionovo don’t tell you is After taking our deposit along with around 350 other investors, Larionovo pulled out of the deal.
    But trying to get your deposit back is another story. The directors seem to be living in some kind fantasy land and think that people wont care about having to wait months for their Money based on the well known Family name. This is from the Horses mouth who seems to be living it up in Dubai.
    They have also been promising the refund week after week since July. We have even been told they have had some money back from the Developer and would be paying some people this week. One of the investors we stay in touch with was promised a bank transfer before the 28th of October, Surprise Surprise this never happened.
    They are now saying they never got any money from the developer
    So enough is enough there is quite a group of us now that keep in touch and keep each other up to date on developments. We now have no choice but to go through a Solicitor, who has been following our lack of progress and agrees we have a very good case.
    So Beware.

  • Tom Savine

    While this development has exceeded my expectations, i have my doubts as to how long it will last. As mentioned above, Dubai is running low on oil, hence the reason why this is all being built (to attract more tourism and compensate the money from oil with money from tourists). You cannot fly with a battery. You cannot use dredgers to move sand without oil. You cannot run all these light, appliances etc with out oil. If the oil is runnning out, what will they use? In my eyes, the county is rich, but what happens when these richs dry up with the oil? How does this new city sustain life without basic essentials. It is in the middle of the dessert. Fully self reliant for food, sewage disposal, and the care of its own people. Without the thing that has made this country something, it will be nothing. Looks good now, and very impressive i must say, but how long this will last is anyones guess. Id guess 15 years before it starts to hit the fan. Then what..all this money, and artchitectural history will be washed away without the maintinace it requires. Maybe the developers shoud be thainking about the bigger picture? only a comment. Anyone agree?

    Tom- 21 – UK

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