Posted by meb at June 11th, 2008

The “Island of Turkey” is among 300 properties in the World Islands Project, a land reclamation project in Dubai created by real estate company Nakheel Properties.

The island was sold to Günal İnşaat, an affiliate of MNG Holding, for $50 million. Günal İnşaat plans to construct luxurious villas on the island.

Nakheel Properties initiated the luxury island development along with a series of other artificial island projects in 2003. The development, which sits four kilometers from the city center, features numerous islands designed to resemble a city or country. Completed in January, the islands offer an image of the world in a very concentrated area. (more…)