Signaling deeping troubles in Dubai, Select Group, the developer of the France and Spain islands on The World, has recently confirmed that it is amending the design of its project and that the number of residential units is likely to be reduced by around 40 percent.

“We are in the middle of changing the design to suit the market conditions,” Rahail Aslan, CEO of Select Group, told Arabian Business. “We have reduced the density and made it more attractive ” he added. The France and Spain islands were launched by Select Group in 2008 and are collectively known as Acquitainia. At the time, the private island development was valued at AED5.5bn ($1.49bn) and was said to comprise 816 residential properties and a 75-room boutique hotel.

The World is an archipelago of 300 manmade islands located 4km off the Dubai coastline and designed in the shape of the world map. Launched in May 2003, there are 17 major projects worth more than $30bn currently under development.

Source: Arabian Business.com