Dubai’s The World Islands place ‘Lebanon Island’ up for sale for $22 million

The World Islands project was unveiled in 2003 with Lebanon Island being the only island developed for commercial use. (File/stvaranjewptemaodnule)
Updated 28 August 2018
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Dubai’s The World Islands place ‘Lebanon Island’ up for sale for $22 million

  • The island comes with a private beach club, a restaurant with dancefloor and a swimming pool big enough for 250 people
  • Included on the island are several private chalets, two beaches, VIP cabanas and a small pier for seaplanes and yachts

DUBAI: Dubai’s The World Islands’ Lebanon Island, known as the ‘daycation’ spot, has been put on sale for $22 million, according to Arabian Business.
The island comes with a private beach club, a restaurant with dancefloor and a swimming pool big enough for 250 people.
Included on the island are several private chalets, two beaches, VIP cabanas and a small pier for seaplanes and yachts.
Dubai-based real estate agency Allsopp & Allsopp are handling the sale, saying that the island is “a unique resort and residential investment opportunity,” and that it could be turned into “a private retreat for an individual, or perhaps an exclusive resort offering from an upmarket hotel chain,” CEO Lewis Allsopp told Arabian Business

Also read: Going, going, gone: A slice of Europe on Dubai’s doorstep

“We are experiencing a wide range of interest from people looking to take over the running of the existing beach club, to some high-profile individuals who are considering purchasing the island and building a large residential home or palace,” he added.
The World Islands project was unveiled in 2003 by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, with Lebanon Island being the only island developed for commercial use.


UAE gives 6,800 investors permanent residency under new ‘Golden Card’ system

Updated 21 May 2019
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UAE gives 6,800 investors permanent residency under new ‘Golden Card’ system

  • Permanent residency will be granted to foreign investors after they invest a combined $27 billion in the Gulf state
  • The UAE cabinet also approved providing renewable 10-year visas to foreigners with investments in the UAE of at least 10 million dirhams

DUBAI: The United Arab Emirates said on Tuesday it will grant 6,800 foreign investors permanent residency under a new “Golden Card” system after they invested a combined 100 billion dirhams ($27 billion) in the Gulf state.
Typically, foreigners have renewable visas valid for only a few years, often tied to employment, but the government announced plans last year to ease its visa policy.
“We launched a new ‘Golden Card’ system to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists,” Sheikh Mohammed bin Rashid Al-Maktoum, the ruler of Dubai and the vice president and prime minister of the UAE, said in a tweet on Tuesday.
“The first batch of 6,800 investors with 100 billion dirhams worth of investments will be granted the ‘Golden Card.’“
In May last year the Gulf Arab state announced plans to grant long-term permits to investors, senior scientists and entrepreneurs, in an effort to support its economy and real estate market, which had been hurt by low oil prices, but had not mentioned the Golden Card.
Economic growth has slowed since a slump in oil prices in 2014 and white-collar professionals are seeing stagnant or even falling employment.
“The permanent residency ‘Golden Card’ will be granted to exceptional talents and everyone who positively contributes to the success story of the UAE,” Sheikh Mohammed said his tweet.
Last year, the UAE cabinet also approved providing renewable 10-year visas to foreigners with investments in the UAE of at least 10 million dirhams, if non-real estate assets account for at least 60 percent of the total. Investors can bring spouses and children into the country.
It also approved five-year residency to owners of UAE real estate worth at least 5 million dirhams.