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Ali and Amira Sajwani want to revive Dubai’s failed World Islands project.
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They plan to build 24 mansions, a beach club and two helipads.
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The brothers’ father, Hussain Sajwani, is a billionaire close to Donald Trump.
The children of a billionaire Dubai property developer have come up with a plan to revive the emirate’s abandoned neighborhood. “World Islands”.
Ali and Amira Sajwani teamed up to launch Amali Islanda real estate development that aims to revitalize the troubled project with the construction of 24 mansions, a beach club and twin helipads.
Nineteen of the 24 beachfront villas have already been sold and the rest are being sold for more than $13.6 million, Ali Sajwani said previously. Bloomberg.
One of the villas yet to be sold has seven bedrooms in 22,500 square feet on a 56,000 square foot plot.
The brothers’ father, Hussain Sajwani, is one of the richest people in the United Arab Emirates, with a fortune valued at more than US$5 billion, according to Forbes.
His children intend to regenerate Dubai’s “The World” archipelago – around 300 artificial islands in the shape of a world map.
State-backed developer Nakheel Properties began building the project in 2003, but the 2008 financial crisis halted it. Many of the islands were then abandoned.
The Amali project will be formed by the union of the islands that should represent Uruguay and São Paulo, according to Bloomberg.
The elder Sajwani is the chairman of luxury real estate developer Damac Properties, which he founded in 2002, and is known in the West for his close business ties to Donald Trump.
Damac and Trump teamed up in 2013 to build a Trump-branded golf course designed by Tiger Woods.
Sajwani also expressed his support for the former president’s trade war with China, commenting in a 2018 interview that he felt “sympathetic” toward Washington in its battle with Beijing.
“We signed an agreement with the Trump Organization. We are very, very happy with them – their service and their quality,” he told Bloomberg. “Without the organization, we would never have been able to build our golf courses.”
The World Cup was less successful than the Palm Jumeirah artificial island project, which now has thousands of houses and other buildings.
Read the original article at Business Insider
