00:00As global warming leads to rising sea levels and erosion of coastal real estate, developers will need new and innovative ways to house an ever-growing population.
00:10Enter the Blue Estate, a floating housing endeavor that could change coastal real estate forever.
00:15They're calling it the, quote, new generation of distinctive luxury, with their first man-made island set to float between Miami and the Bahamas,
00:23featuring hyper-modern designs and all the amenities of a planned city, such as a myriad of parks and green spaces.
00:29A contrast to the Blue Ocean waters that surround it.
00:32But Blue Estate aren't the only ones looking to the open waters for real estate development.
00:36Itai Matamambe, president of Oceanix, another proposed floating city, said about the prospect of building on the ocean, quote,
00:42Many coastal cities are already resorting to land reclamation to create space, which damages precious marine ecosystems.
00:49This issue is now compounded by rising sea levels, which threaten to destroy billions of dollars' worth of infrastructure worldwide.
00:55Floating cities are a solution for coastal cities looking to expand sustainably and adapt to climatic threats.
01:01Both housing projects are still in their early stages and currently looking for backers for their developments.
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