Luxury resort coming up on The World, Dubai

The World, real estate development in Dubai by Nakheel

Venture Capital Bank (VC Bank), Bahrain-based Islamic investment bank, has formed World Development Company Limited to develop a luxury resort on The World, an exclusive real estate project by Nakheel in Dubai. The cost of the project is estimated at Dh1.5 billion and is expected to complete by the end of 2010.

Hamza Mustafa, Director, The World, said, "We are proud to have VC Bank invest in The World. We invite only the very best investors, like VC Bank, to develop the islands within our project to ensure that The World will be the ultimate luxury tourism destination when complete".

The 90,000 sq m island is ideally located at the northern end of the Asian area of The World overlooking the Arabian Gulf. There are 113 villas classified into different categories. The real estate project at The World, Dubai will also offer a spa, 2 exclusive restaurants and a sunset lounge.