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In: Estates
17 May 2010Despite the no flipping rule, it looks like an island in the World Project has been listed for sale, at a semi-reasonable $11.44 million.
An investor in the World project has listed an island on sale defying the “no flipping” diktat by UAE Defense Minister, Nakheel. While flipping is not allowed for islands on the World and since transfer of ownership is a complicated procedure in the UAE, still the 20,000 sqm island is up for sale for $11.44 million (Dh42 million).
Okay, first item on the to-do list, get $11.44 million somehow. Second item, contact investor. And third, move in, of course.
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