Sink is «Peace»?

24.01.2011 00:03
The archipelago of "The World", consisting of artificial islands in the form of light of different countries, which are built off the coast of Dubai, goes under water. This was stated by the lawyer, Richard Wilmot-Smith, representing the interests of Penguin Marine.

The lawyer spoke at a meeting of the tribunal Dubai World Tribunal, which was established specifically for the parsing of cases related to restructuring and separation of the companies participating in the project "Peace." According to Wilmot-Smith, the islands are exposed to erosion, and the channels for navigation, placed between them, fills with silt.

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"Peace" is a group of 300 artificial islands, with a bird's-eye view of emerging in the world map. For their construction have required 386 million tons of stone and 320 million cubic meters of sand. The project began in 2007. However, as a result of the global financial crisis, construction of most islands has been frozen. Currently inhabited by only one of them - Greenland, owned by Dubai's ruler. According to the project developer, the company Nakheel, 70% of the islands have already been sold.

Penguin Marine Company acquired the rights to transport people to the islands of the archipelago by boat. But now, due to the almost complete absence of customers, it tends to terminate the contract in terms of which must make annual payments of $ 1 million pounds. Nakheel Company agrees to terminate, provided that keep the advance from Penguin Marine in the amount of ? 1 million, writes the Telegraph.

The representative of Nakheel Graham Lovett acknowledges that the project "Peace" is in a "coma", but points out that the stated term of implementation is 10 years old and that by 2017 it will be completed.

Press office Nakheel insists that the island did not sink into the sea and that in the three years that have elapsed since the start of the project, "any significant erosion have been reported.

Content tags: Overseas property
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