Floating country funded by PayPal Billionnare

26 Aug

Want to buy a home overlooking the sea? Then any estate agent will tell you that whether it’s in the UK or overseas, expect to pay a premium of up to 20% despite the risk (in some areas) of coastal erosion. But a seaside home that’s different in almost every way may soon be on offer, if billionaire dot com entrepreneur Peter Thiel (pictured, bottom) can get his latest big idea off the ground.

Thiel, who is the founder of online payment firm Paypal, has sunk (sorry, invested) £700,000 in a plan to create a floating island (pictured, above) not governed by the rules of any country.

The structures will reportedly have a displacement of 12,000 tons, be diesel-powered (so not that green) and initially be home to approximately 270 people. By linking the islands together they could grow to eventually support millions.

Thiel plans to anchor the islands in international waters making them therefore exempt from jurisdictions covering taxes, regulations, building codes, welfare requirements and weapons restrictions.

In 2009, a 3D design competition was held to help people visualise what these sea-bound communities may look like and the winning entry by Hungarian architectural cum graphic designer András Gyõrfi is described as a ‘recreational resort’, complete with grass, trees and a large communal swimming pool.

But what at first looks like a floating apartment block is in fact a experiment in creating a new society – which Thiel hopes can be achieved on the islands. Prices for properties have yet to be released, but despite it’s utopian aims, PrimeLocation.com thinks they won’t cheap.

5 Responses to “Floating country funded by PayPal Billionnare”

  1. Turkey Property August 26, 2011 at 10:49 pm #

    I wanna buy one :) It is really interesting guys.

  2. Floss August 30, 2011 at 2:33 pm #

    A great idea, but one of the ugliest things I have seen. Apartment blocks with huge steel (?) cables – yuch ! However, I am sure that one day this will be the future. Lots of practicalities to consider though – like getting to work, getting the groceries in, how many helipads are required etc etc. Plus, if they are far from shore the effects of the ocean are not to be underestimated.

  3. Luke August 31, 2011 at 4:39 pm #

    looks like a floating prison, (apart from the swimming pool)

  4. Chris Watts September 8, 2011 at 10:50 am #

    Economically unviable. Everything you need to live there has to be brought in from outside. Yet he puts it in international waters far from any source of stuff. The only people who will live there will be Mafia bosses. Want to live next to one of them?

  5. Manchester letting agents September 14, 2011 at 1:09 pm #

    Hasn’t this already been thought of many, many times over already?

    Stick to your ‘payment’ website.

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