Nakheel and the launch of blue communites - Essay Example

3; Dubai). There is a need for research, development, and positive transformation of these locations with a long-term aim for Blue Communities to provide leadership in the development of sustainable coastal communities. Nakheel is still a young company, formed in 2001, but bin Salayem notes that the company is already a leader in the region, as well as internationally, and offers its pioneering approach as applied to Blue Communities (Dubai par. 7). Dubai's Real Estate Regulatory Authority (RERA) has made developers responsible for any structural damage to a property and defective installations for 10 years after project completion.

The aims of the new law are to "monitor real-estate and development brokers, prevent fraudulent activities and increase investment" (Special Report par. 4). A Nakheel spokesman noted that the new policy is similar to already existing legislation in the UAE Civil Code. Nakheel's projects include The Palms, The World, and the forthcoming Waterfront, which when completed will add 1000 km of waterfront to Dubai. According to the spokesman for Nakheel, "We already guarantee the structural integrity of our properties for 10 years in our standard contracts, so this is not new to us" (Special Report par. 8). Nakheel has more than 1800 employees.

It currently has US$60 billion worth of major projects spread across more than 2 billion square feet. The company is committed to ensuring leadership for Dubai in all areas of life with special focus on sustained development and environment (Zakaria). The idea behind Blue Communities, according to Abdul Rahman Kalantar, the company's managing director for design and development, is to "launch new thinking and working methods, given that the initiative itself is not confined to one company or one country, [but] it's rather available for all parties concerned with coastal communities" (Zakaria par. 4). When Dubai's building projects created land where none had existed before, a whole series of environmental concerns were raised.

Nakheel met the challenge by initiating a global charter to define the best practice on how coastlines can be developed around the world. It's called Blue Communities and over the next three years is a call to action to the world (Think Blue). Almost half the world's coast is presently threatened by development related activities. At present, Dubai is building its coastline in harmony with nature. But, as more and more projects compete, how long can this be the case In North and Central America nearly a third of the coastline faces moderate to high threats from building for houses and industry.

About half of South America's towns, resorts, and leisure communities are mushrooming, turning natural habitats into steel and concrete. It is noted that "an estimated 80 per cent of all life on earth is found in the sea" (Think Blue par. 2). The future of the planet depends on looking ahead and meeting challenges to sustain a natural environment. Issues that must be addressed on a worldwide basis, not just in Dubai and its environs, but throughout the globe, are part of Nakheel's Blue Communities initiatives, as follows (Lamb):Climate