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Mohammed instructs 3rd Palm Island Reclamation

Emir of Ketir

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New Palm Island project to be built along Deira beach

After The Palm, Jumeirah, The Palm, Jebel Ali, and The World comes The Palm, Deira.

Dubai Crown Prince and UAE Defence Minister, General Sheikh Mohammed bin Rashid Al Maktoum, has ordered the quick implementation of a new Palm Island project in response to a popular request by investors. The project, which will be similar to the one at Jumeirah and Jebel Ali, is to be built along the Deira beach.

Sheikh Mohammed gave the order when he visited in Dubai yesterday the World Islands and Palm Island projects on the Jumeirah beach to acquaint himself with the progress of work on the two projects. The Dubai Crown Prince expressed satisfaction with the very good patronage the completed development projects had got.

He said the multi billion Dirham projects was just the tip of the iceberg in terms of the ambitious projects Dubai has in stock, adding that the projects will boost the emirate's economic and tourism growth and are great factors of attracting investors and holiday-makers to Dubai. Sheikh Mohammed was accompanied on the one-hour tour by a large number of officials. (The Emirates News Agency, WAM)


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The bullcrap with the numbers

I have been reading in the international press over and again now that Dubai eg. Nakheel is reclaiming the islands at a cost of US$ 2-3bn each.

Despite this making good headlines in the int. press, its bullcrap. I have confirmation from a local engineer that The Palm, Jumeirah island reclamation cost no less than US$ 250m, and The Palm Jebel Ali, despite 50% larger in size comes at approx. US$ 230m, mainly due to economies of scale of having the machinery, knowledge and experience.

That is 1/10th of what is being claimed in the international media. There is a team of just 300 people working on each of the islands and that includes project manager right down to the guy driving the trucks. Semi-skilled workers, mainly from the Far East, earn just about 350 bucks a month - where could there be billions involved?

I also saw an article in Dredging News August 8th, that The World reclamation, technically the most challenging to date comes at 200m Euros.

Dredging News

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