Dubai's ambitious World Islands - a scaled recreation of the planet's landmasses, realized as a series of exclusive, expensive man-made islands - are in imminent danger of being reclaimed by that ornery old cad, Poseidon.
The twin forces of erosion and steadily rising sea levels have allied to ensure that Sheikh Mohammed bin Rashid Al Maktoum's controversial pet project will sink faster than Kevin Costner's career in the mid 90's.
First announced by state-owned property developer Nakheel in 2003, the Islands - also known as the World - were intended as personal havens and resorts for the mega-rich global elite. Located about four kilometers off the coast of Dubai, a number of the various 'states' making up the archipelago - including fan-favorites such as 'Great Britain', 'Moscow', 'Austria', 'Shanghai' and 'Turkey' - were sold off, often on-spec, to an eclectic group of foreign investors and aspiring Bond-ian super villains.
By 2005, eighty-eight of a proposed two hundred and sixty islands had been completed, using locally sourced dredged sand and rock. The project was to span a space of six by nine kilometers at a reported cost of around fourteen billion USD.
Just five years ago, the Islands were THE emerging status symbol for the monied super-class. Keen to stake out their little corner of the World - shaped like, well, their own little corner of the world - the hot-selling properties were scooped up various British, American, Chinese and Middle Eastern interests. Richard Branson was reported to have been eyeing off 'Great Britain'. The Sheikh presented Formula One superstar Michael Schumacher with his very own island, for some reason. There were even (unfounded) rumors than Brad and Angelina had purchased 'Ethiopia', presumably with an eye to populate it with African orphans that could then be adopted by the couple at their leisure.
But the 2008 Global Financial Crisis put to a stop to the Dubai's putsch into Poseidon's home turf. In one fell swoop, property prices in the region plummeted as much as 58%. Nakheel - suddenly the proud owners of a twenty-five billion dollar debt - were in serious need of a bailout. As of last year, only one of the islands featured any kind of permanent structure - in this case, a show home. Development has stalled on any future structures, be they commercial or residential. It seems Armageddon has come to the World a little ahead of schedule.
Now - despite the developer's adamant claims to the contrary - there is some verification of the erosion of the islands and the silting of established passageways between them. Penguin Marine, an independent company contracted to provide water-based transportation to and from the archipelago, recently published the results of a study insisting that the Islands are sinking into the ocean that borne them at an alarming rate.
With the project's developer well on its way up a particularly foul-smelling creek, it seems the World Islands are destined to eventually settle into a new home - at the bottom of the ocean. Despite all the jet-set buzz and grandiose hoopla surrounding their creation, the Islands were never even officially populated. The World, it seems, is doomed.
Oh well. Here's hoping Costner and his rag-tag crew of Merry Mariners can get some use out of it.
There are now only 408 days left until the End of the World.
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