Dubai-based developer and contractor Inspire Home Contracting has revealed plans to develop the Oman island at The World Islands project in the emirate.
The company, which is also developing villas in Dubai South and a tower on Dubai Islands (formerly Deira Islands), is moving into the floating homes market as demand in Dubai for waterfront properties soars.
It currently has preliminary approval from master developer Nakheel and is applying for a permit to start construction, Mohamad Chiah, the architect of the project, told The National at Cityscape in Dubai.
“Construction will take up to two years and it will have 167 villas, a massive swimming pool in the middle of the island, a clubhouse that will have a spa, five-star restaurant, cinema and ballroom,” he said.
The villas are all one-bedroom, with some of them floating, at the $20 million development. They are going to be manufactured in South Korea and then shipped and plugged in at The World Islands.
While the manufacture of the villas is going on, Inspire plans to carry out the infrastructure works on the island.
“There will be three types of floating villas — one with its own pool on the terrace, one without terrace but with pool on the roof, and a duplex with a pool on the roof,” Mr Chiah said.
The villas will be guaranteed for 50 years and prices will start from Dh6 million ($1.63 million), “which is good value as others are selling for much higher”, he said.
Dubai's property market has picked up pace this year as the wider economy makes a strong recovery from coronavirus-driven headwinds.
The development on the World Islands has been ramping up too.
Anantara is expected to launch a hotel on the South American section before the end of the year while the Kleindienst Group's Heart of Europe project is also close to opening.
This project also features floating homes — the Floating Seahorse villas, the first of which were handed over in 2020.
Last year, Josef Kleindienst, chairman of the Kleindienst Group, The Heart of Europe, told The National how the floating villas had appreciated in price from their initial selling price of Dh5 million, to as high as Dh88 million.
Meanwhile, Inspire will ensure that sustainability is at the forefront of its development.
“All water will be filtrated and treated, and we will use solar panels. We will not drop any waste in the ocean,” said Mr Chiah.
The Oman Island was appealing due to its shape, “plus it has a big border, the view of Dubai is good and it is protected by the other islands around it”, he said.
“Floating and waterfront homes [are] the trend in Dubai. People want to come for one month to enjoy the water and clubhouse entertainment.
“We are trying to make it so that everything that is needed is here so you don't need to go out — barber, supermarket, etc. They won't feel that they need anything from outside.”