“The focus of our activity is currently being directed at reclamation works in areas closest to the shore. Once this is complete we will start progressive land sales and development,” it said in a statement.

It said it is in line with Nakheel’s business model, and is a very responsible approach in line with current global economic conditions. Palm Deira will be the largest man-made island in the world, covering 4,250 hectares and adding 226 kilometers to the coastline of Dubai. More than 800 workers are currently on site reclaiming 200,000 cubic metres of sand, 45,000 tonnes of rock by sea and 20,000 tonnes of rock by land per day, Nakheel said.