More real estate developers are looking at floating structures to provide room for growth and development amid burdensome building restrictions and limited land space. There are currently floating structures like this already, but they only appear to be glorified house boats. However, investors and architects are working on developing structures that can serve as temporary hotels for large events, private office buildings, and even just simply residential housing as cities grow. Experts in the oil industry, who already have developed such structures for oil rigs and oil workers at sea, say that the basic technology for this idea has already been created, they just need to focus on finding investors and people willing to provide the needed capital for these projects.
Admares, a Finnish company who has already entered this market, is looking to develop floating hotels for the 2020 World Cup in Qatar. As pictured above, the plan is to build 101 room hotels floating along the coast of the Persian Gulf. This will provide the temporary housing necessary to host the World Cup. Once the event is over, the hotels will be able to float to a new location.
I found this article very interesting because this is an innovative idea. It provides a solution for limited space for developers in cities, for coastal cities that deal with fluctuating water levels, and simply for relieving the congestion of overpopulated areas. This is a market with lots of opportunity for innovation and creativity.
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