Luxury islands developer in Dubai hopes for Expo 2020 boost | Reuters:
Heart of Europe, a cluster of luxury homes on six islands off the coast of Dubai, will be ready when the city hosts the World Expo in 2020, says its developer, but concern remains about over-supply and falling prices in the local property market.
Resembling European destinations like Germany, Venice, Sweden, Switzerland and St. Petersburg, the project is part of The World, 300 man-made islands shaped like a map of the world.
The World project — costing $20 million to $50 million for each island — captured global attention when it was completed in 2008, at the height of Dubai’s property boom. Now, it’s a symbol of excess as the emirate grapples with a sluggish market.
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