A joint venture of Dubai-based Select Group and UK-based Select Property has bought two islands from local developer Nakheel on the The World project, off the coast of Dubai.
The joint venture plans to turn the islands of France and Spain into a resort called Aquitainia.
Since 2004 the two companies have worked together on a number of projects at Dubai Marina, including The Torch and Bay Central, and recently partnered together for the Pacific development on the Al-Marjan Island scheme in the emirate of Ras al-Khaimah.
The group is also in the planning stages for a project on the Palm Jebel Ali (MEED 6:1:06).
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