EU plans "EU" in Dubai

Monday, September 25, 2006 | 0 comments »

Following the success of "The World" in Dubai, EU officials have approached the developers, Nakheel, with a plan for a luxury offshore development called "The EU".

Initial proposals include 25 individual "member states", actually man-made islands, each with an eight-bedroomed villa, jetty and series of guest-houses.

Other amenities include room-service, helicopter landing pads, tennis-courts and jacuzzis.

Although the price is high - Malta and Estonia start at 28m AED and 42m AED respectively (roughly 6 and 9 million euros) - the advantages are clear; anybody purchasing a property at The EU will automatically become an EU citizen, and enjoy free movement throughout the union.

Said a joint spokesman for DG Enlargement and External Relations, "it's not only a great way of promoting Europe abroad, but also a fantastic resource for boosting EU funds, as we can enlarge to 50 countries without the normal associated costs."

It is understood, however, that take-up is slow. The annual charges, which include a 30 million euro contribution towards the Common Agricultural Policy "Special Fund", are putting off prospective investors.

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