Greater regulation and a maturing market see interest return to properties still under development
You can now own your very own island on the World Islands development — for a mere Dh80m
The only fully operational island among the World Islands development is now up for sale — stand aside, Richard Branson.
Lebanon Island, now simply known as “The Island”, is on the market for a cool Dh80 million — that’s just south of $22 million. You’ll need a boat or seaplane to get there, of course, so add that to the bill for this once-in-a-lifetime opportunity.
Opened in 2014, the nearly 40,000sqm dream island was the first of the 300 proposed World Islands to be completed, and is the only one open to the public.
The island complex — which sits just off Dubai’s coast — includes a private beach club, an 80-seat restaurant, dance floor, licenced bar and a swimming pool area large enough for 250 people.
The island has been refurbished recently, and the buyer will also get several single-storey private chalets, VIP cabanas and two beaches. There’s also a private jetty for yachts and seaplanes.
Whether purchased by an individual as a playground for the ultra-rich, or by a hotel group as a potential new luxury resort, one thing’s for sure — this is a unique property.
Boasting a commercial licence, this beautiful spot offers seemingly endless potential.
With stunning views of the Dubai skyline, neighbouring islands and the distant horizon from all vantage points, a multi-purpose circular events area can easily be adapted to host weddings, launches, fashion shows, award ceremonies and parties that will be talked about for seasons to come.
Duke + Dexter
In its four years of operation, the island has become synonymous with luxury lifestyle and holds enormous appeal to the international party set that frequents Dubai. A popular daycation spot, revellers are currently ferried to the island for dancing and dining, at the island’s restaurant — Toro Blanco.
The original buyer of the island in 2008 is said to have invested some $16.8 million in constructing the island’s infrastructure, before selling it to the current owner in 2014.
Lewis Allsopp, CEO of Allsopp & Allsopp, the company marketing the island globally, said: “It’s absolutely fascinating for us to be given this iconic, ground-breaking property to sell. It has so much potential. It could become a private retreat for an individual, or perhaps an exclusive resort offering from an upmarket hotel chain. It’s the sort of venue where what it evolves into is only limited by the imagination of the new owner.”
The agent responsible for the sale, Alex Whayman, says the company has never sold an island before, but he is excited to be involved in this exciting transaction. “We have sold some large and beautiful homes previously, both in the UAE and the UK, but we have never yet sold an island. Hopefully that will change soon!
“As you might imagine, 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.”
Whayman cites the great potential for development, the incredible views and the magical location as great pulls for potential investors. “After all, who doesn’t want to own their own island. The advantage of this unique opportunity is that you’re only a very short boat ride away from one of the best cities in the world and all it has to offer. It’s the ultimate dream lifestyle.”