00:03In 1966, this fellow went all out to transform a sleepy fishing village into a shiny metropolis brimming with skyscrapers.
00:12It was all founded on oil money.
00:15Investors and expats started pouring into the city year by year.
00:19And now, Dubai houses indoor ski resorts, outdoor water parks, drone-controlled weather, futuristic gardens, and floating tennis courts.
00:30But is everything as bright as it seems?
00:36The city is built on shifting sands in a desert where temperatures can exceed 115 degrees Fahrenheit.
00:43Could Dubai be that catastrophic cautionary tale waiting to happen?
00:47It might be, or it might not.
00:50Let's find out.
00:53Well, one of the most questionable projects of this emirate might indeed be in danger.
00:58Here, I'm talking about Dubai's artificial islands off the coast.
01:03Built from sand dragged up from the seabed, they're part of a super ambitious plan to create resorts and residential homes for the ultra-rich.
01:12But at the moment, most of these islands are largely abandoned, and their market collapsed.
01:18And the worst thing?
01:19Well, no one expected such an outcome.
01:22They're already sinking back into the sea.
01:24Let's take a closer look at these wonder islands.
01:29There are the three Palm Islands, Palm Jumeirah, Palm Jebel Ali, and Palm Deirah, an archipelago of 300 small islands called the World,
01:41and a final set of tiny islands designated after constellations, the Universe.
01:46The construction started in the year 2000 with the Palm Islands.
01:52The main goal was to create one more oasis within the oasis of Dubai, with more shops and more luxury goods, more resorts and hotels, more restaurants, and more beaches.
02:04The Palm Islands, for example, have mansion-like houses built in contemporary styles within gated communities.
02:11It turns out they're meant to mimic the Hollywood Hills lifestyle.
02:15At the moment, Palm Jumeirah is the most developed one out of all of them, and has functioning businesses, homes, and hotels.
02:24The other two Palm Islands are reported to be rather underdeveloped, if not desolate.
02:31As for the Universe Archipelago, it hasn't even gotten underway.
02:35But at the same time, it's supposed to be finished by 2028.
02:39The World Archipelago has been encountering one issue after another during its development.
02:46The problems were mostly related to using sand from the ocean to build the islands.
02:51Erosion from water and wind started eating away at the islands from day one.
02:56But that's not the only problem.
02:58To make matters worse, rising ocean levels are threatening to swallow them completely.
03:02Plus, economic problems that started in 2008 haven't let up yet.
03:09But let's delve into details to see how truly disastrous the whole venture is.
03:15Palm Jumeirah, the only successful set of islands so far, is literally sinking at a rate of 5 millimeters per year.
03:23It turns out that sand piled on the ocean floor isn't all that great for sustaining the weight of hundreds and thousands of tons of human-made structures.
03:33So, Dubai's islands sink, the ocean level rises, that's clear.
03:38But couldn't the engineers behind these magnificent projects predict such an outcome?
03:44Apparently not.
03:46Wave breakers surrounding the islands have a height of a mere 6.5 feet.
03:50That's well below any serious protective height.
03:53Water erosion also removes between 353,000 to 530,000 cubic feet of sand per year.
04:02And these numbers are going to grow as global warming makes weather and ocean tides more severe.
04:10We should also mention the ecological problems the construction of the islands provoked.
04:15For one thing, in the process, too many natural resources were used,
04:20which led to the decline of biodiversity and the extinction of wildlife and vegetation.
04:26The islands are extremely harmful to marine life and the ecosystem.
04:30Dubai uses loads and loads of energy and natural resources.
04:34The average water consumption in Dubai in 2019 was 145 gallons per person per day,
04:42the highest consumption rate of any country.
04:4498% of this water comes from desalinization plants, which uses a tremendous amount of fossil fuels.
04:51Plus, the extensive use of marine sand and sediment to build the islands
04:55had catastrophic consequences for the local ecosystem.
04:59During the construction, the waters became clouded with silk, stifling once abundant sea inhabitants.
05:05For example, oyster beds have been covered with two inches of sediment.
05:11Now, let's have a closer look at one of the projects, the World Islands,
05:16and find out the deepest secrets behind them.
05:19The construction was launched in the early 2000s.
05:22Since then, the project has been surrounded by a veil of rumors,
05:27from celebrity purchases to outlandish hotel projects.
05:31For many years, the chances of completion seemed slim after the islands were left mostly abandoned
05:37following the financial crisis in 2008.
05:41One of the UAE's most ambitious projects almost turned into a ghost town.
05:46At the same time, Dubai's reputation as a luxury vacation destination and investment hub
05:52has been growing, and it had its impact on the once-abandoned world islands.
05:57For example, Globo Hotel Group and Anterra open the doors to a 70-room resort
06:03called Andanterra World Islands Dubai Resort.
06:07Don't you think it gives a new buzz of hope for this destination?
06:11So, what exactly are the World Islands?
06:14They sit around 2.5 miles off the coast of Dubai in the Persian Gulf.
06:20It's a collection of small islands replicating the world in miniature.
06:23Each island has its own name corresponding to a certain country.
06:28The archipelago was created by Dubai-based company Nahil Projects.
06:33The name is linked to many high-profile projects, including the St. Regis Dubai and the Palm.
06:40The artificial islands were built by pulling sand from the Gulf and moving it to the designated spot.
06:47Several million tons of rock were used to keep it in place.
06:50In total, there are 300 islands, and each is from 250 to 900 square feet.
06:58At this point, more than $14 billion have already been spent on the construction.
07:03The developers had to deal with a lot in the process.
07:07Besides the chaos of work halting, there were also rumors that the world islands were sinking back into the ocean.
07:13For many, the Heart of Europe project was the most convincing.
07:19Its development will see a certain number of the islands in the world transformed into the continent of Europe.
07:25It's planned to be done to such an extent that fake weather conditions with rain and snow might be created in some areas.
07:32The Heart of Europe includes the construction of several luxurious hotels, private mansions, and even floating villas.
07:40Each of these villas is designed to transport people to different European destinations, including Venice, Sweden, Monaco, and Germany.
07:49This ambitious project is still under development, and the group is looking for potential investors.
07:55But the most exciting World Islands project is probably the Antero World Islands Dubai Resort that I mentioned before.
08:05Located in the South America region of the islands and having a great view over the main city, it opened in 2021.
08:13The resort's accommodations include suites, beach villas, and pool villas.
08:18At the moment, it's the only open resort on the entire archipelago, which gives it a sense of seclusion and privacy.
08:26Interestingly, the development and purchase opportunities remain a closely guarded secret.
08:33There was an old listing on one internet site for the entire collection back to when the World Islands was just an intriguing project.
08:41But later, there was only one individual island left for sale.
08:45Which island it was wasn't disclosed, but the listing advertised it as a 505,000-square-foot, undeveloped island.
08:54And the price they wanted for it was $16 million.
08:58It may seem like a hefty sum considering the problems associated with the World Islands project.
09:04But the islands may easily increase in value if the Antero Resort lives up to everyone's expectations.
09:11By the way, if you want to own a piece of the World Islands but can't find any for sale, look into private purchase opportunities within the heart of Europe.
09:23This project offers investors the opportunity to buy either a second home on one of its resort islands, including luxury mansions and villas, or an incredibly exclusive private island.
09:35Hmm, I wonder.
09:36What about grocery shopping?
09:38As far as I know, the infrastructure is lacking there.
09:42I mean, do they even have DoorDash?
09:45Or do you have to walk all the way to the nearest luxury hotel to have breakfast?
09:49On the other hand, considering the price you're paying for property there, splurging on breakfast shouldn't be your biggest concern.
09:57I mean, do they even have a minimum limit on breakfast?
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