What is blue communities initiative by Nakheel ? Any thoughts ?

Question

What is blue communities initiative by Nakheel ? Any thoughts ?

Answer 1

Nakheel is a real estate developer most prominent for waterfront projects in Dubai, UAE.  Their current iniative appears to be butting a small amount of investment (about US 70 million) into research on 'sustanible practices.'  They are rather vague on exactly what they're spending the money on.  

Given this fact, and the fact that their developments (or most developments) in Dubai are far from green, I'd be skeptical that this is anything more than an expensive marketing program.

If they start to get involved in work in other countries (partucularly flood prone bangledesh, source of their cheap labor), I'd start to sit up and take notice.