[M II A II R II K]

Developer Moves Forward with Ambitious 'World' Development in Dubai


12/23/2009

By Bernhard Zand in Dubai

Read More: http://www.spiegel.de/international/...668853,00.html

Dubai may be perilously close to economic disaster, but life goes on for some of its most high-profile projects. Although much of the ambitious "The World" archipelego of high-end real estate developments are languishing, an Austrian investor says he will soon proceed with construction on the island of "Germany."

- Kleindienst, 46, has bought half of Europe. But this Europe happens to be made up of sandy islands lying four kilometers (2.5 miles) off the coast of Dubai. Each island is named after a country.