Lebanon island, located within Nakheel’s World Islands just off the Dubai coast, is up for sale. The island is reported to be owned by an Indian businessman based in Dubai who is now currently looking for a buyer for his 420,000-square-foot owned island. The asking price has been put up at a a cool Dhs 80 million. According to Luxhabitat, a penthouse on Palm Jumeirah would go on sale for around Dh90 million.
Lebanon is the first island in The World Islands which was made accessible to the public and is already complete with chalets, a swimming pool and a restaurant.
The property is currently being utilised as a beach resort and has been a hub for a number of gatherings, with more public events to come before the end of the season.
Yasin Valimulla, associate partner at Keller Williams Real Estate said, “While the price tag may be reasonable, it may be challenging to find a buyer who is willing to spend millions of dirhams in the current market. However, for the right buyer, it's a very attractive piece of prime real estate and we are hoping to find a buyer very soon.”
“This is also not the only island for sale in Dubai right now. Nakheel and other private individuals who have invested in The World are also selling some islands, although they're mostly undeveloped”, said Valimulla.