Islands aren’t really a common topic in the investment world, but sometimes, a story is so interesting it’s hard to pass by. Recently, there has been a literal city rising from the waters of the Indian ocean. The island is emerging on the coast of the Maldives, just 10 minutes from the capital. The island isn’t just magically appearing though, rather, it’s being constructed by man and will be large enough to house 20,000 people. The architecture of the island is similar to a brain coral, an interesting touch that embraces the ocean feel for tourists and those who wish to live there.
On the Island will be over 5,000 floating units including houses, restaurants, shops, and schools, with canals running in between. The first few buildings will be revealed this month, and residents are expected to begin moving in by early 2024; the entire city will be complete by 2027.
In the United Arab Emirates, similar projects are slowly being built up. Indeed, some self-sustaining floating cities are looking to become reality within the next decade. But whether it’s in the Middle East or the Maldives, the global issue of rising sea levels is at the heart of these innovations towards coastal communities. From an investing perspective, it could be interesting to see how real estate developers and investors approach the floating cities.
What do you think about these floating cities, and would you invest or even potentially live in one if given the opportunity?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.