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Dubai's Nakheel to build 500 artificial reefs

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Property developer Nakheel has said it plans to build 500 artificial reefs off the coast of the Dubai to help develop marine life and sustain the emirate's fishing industry, The National has reported.

Construction on the project, which is being built in consultation with Emirates Marine Environmental Group (EMEG), will begin in the next three months and last about a year, the state-owned firm said. The 500 artificial reefs will be built in and around Nakheel's various developments, such as the Palm Jumeirah, the World and the Palm Jebel Ali, and will be open for public use and fishing.

 
 
 
 

Dubai is considered one of the most profitable real estate opportunities in the world today. This premier tourist destination is also becoming home to a rapidly increasing number of foreigners. With growth a rate of more than 50% over the past five years and more than USD80 billion in real estate projects underway, this tax fee capitol is the perfect investment prospect, promising unmatched returns. Unique developments such as the Palm Jumeirah and The World, together with the region’s booming economy and insignificant crime rate, secures Dubai as one of the safest investments today.

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