Dh400m Thai-style resort planned on 'The World'
Plans to build a unique new "Thai-style" resort on one of the islands of 'The World' project at an estimated cost of Dh400 million were recently revealed by industry sources.
The proposed resort will be situated on a 273,000 square foot plot on the Thailand island of The World. It will have nine beach villas, 10 water villas, 56 studio suites, and 56 one-bedroom loft units, according to Gulf News.
"It is essentially a residential resort based on Thai architecture. The main tourist element will be a spa that will be run by an outside operator. We are looking at the spa business if it can attract people to the resort for one or two weeks," said Imtiaz Khoda, one of the four shareholders and director of real estate firm Profile.
Owners not using their units will have the option of giving them to the management company, who may then rent out the apartments to tourists.
Construction on the resort is expected to begin after Nakheel, developer of the World, hands over the island to Profile in mid-2008. The resort is set to open its doors in mid-2010.
Khoda stressed that he expects strong European buyer response as the company has had marketing experience in the region.
"We expect between 60 to 70 per cent of our buyers to come from Britain and other European countries. The rest are expected to be from the Gulf, India and other neighboring countries," Khoda said.