First the World, tomorrow the Universe

Nakheel, developers of the three Palm islands and The World, plans to build The Universe. The project will comprise of a series of islands strung along the Dubai coast, stretching from Palm Jumeirah to Palm Deira. The construction will take 20 years to complete; choosing the name couldn’t have than longer than 20 seconds.

As if to head off any criticism that its offshore developments were creating an environmental disaster zone, the news was preceded by the announcement Nakheel is to commit $55m to raise awareness of coastal development issues.

Almost two-thirds of the world's population lives in coastal communities and a large amount of development is taking place in these locations. As such there is a need for significant investment in research, development and positive transformation of these environments. The long-term aim is to provide leadership in the development of sustainable coastal communities," says Sultan Ahmad Bin Sulayem, Executive Chairman, Nakheel.

In October, Chinese businessman, Bin Hu, bought one of the islands of The World, Shanghai, for $28m. The cost of construction of The World is estimated at $14 billion. The $55m ‘green’ fund is, literally, a drop in the ocean.