The first artificial island in the Caribbean Sea is expected to be complete in 2025, with an entry fee of HK$156,000 for a presale flat, the Daily Mail reported.
Hong Kong's artificial island is still in the research stage, but the world's first artificial island in the Caribbean Sea is expected to be complete in four years.
Sales of the homes on the island have opened, with prices ranging from 14,600 (HK$157,000) to 1.1 billion.
This floating city is on a man-made island built by developer The Blue Estate.
The artificial island, made of concrete, has a total area of 86.5 hectares - about 4.5 times the size of Victoria Park in Hong Kong.
The developer planned to float the islands in the Caribbean Sea and locate them near Miami and the Bahamas.
The houses on the island may be on sale, but the artificial island will not be built until 2022. Some properties can be delivered only in 2023. The cheapest one-bedroom unit is selling for 14,600, and the most expensive is the luxury Signature Estate, which is going for 1.1 billion.
The developer said the island can accommodate 15,000 permanent residents, and there will be several companies, clinics and an international school.
The prime location on the island provides residents with more than 340 days of sunshine each year.
The entire artificial island will use renewable resources to generate electricity with the aim of achieving negative carbon dioxide emissions and developing into one of the world's greenest communities.
Under the offshore zero tax rate and minimal legal governance, it is expected to create a market environment that is conducive to business.