Dubai's iconic offshore island development - The Palm, will be a key sponsor of the 2004 Dubai World Cup set to take place March 27. Race Four - The Dubai Sheema Classic, which is run over 2,400 metres, will be sponsored by The Palm with a prize purse ringing in at a massive $2 million. "The Dubai World Cup is a momentous event in Dubai's annual sporting calendar and we are proud to be playing a key part in it for the first time", said Wahid Attalla, director of operations for Nakheel.

"Horse racing is part of Dubai's heritage and The Palm is always keen to nurture this heritage wherever possible," he said. The Dubai World Cup is the world's richest horse race.

Attalla said: "The event attracts a large number of international entries and spectators to Dubai. "Similarly The Palm will attract a significant number of international visitors and it is through events and projects like these that Dubai has the opportunity to showcase the incredible progress we have made in terms of sporting events, tourism, commerce, communications and more." Located just off the coast of Dubai, the two palm tree shaped islands - The Palm, Jumeirah and The Palm, Jebel Ali - are expected to contribute to the city's position as a premier global tourist destination.

The project will increase Dubai's shoreline by a total of 120km and create a large number of residential, leisure and entertainment opportunities, all within a unique and inspiring setting. Construction of The Palm commenced in June 2001 and each island will take approximately two years to be completely raised from the sea. A further two to three years will be required to complete the infrastructure and the buildings. The end-result will be the creation of two virtually self-contained communities within the islands. The Dubai Sheema Classic sponsored by The Palm is a grade one race open to four-year old horses and will be run on turf. The Palm's sponsorship of this event is part of Nakheel's wider sponsorship strategy that incorporates supporting a variety of UAE events on a sporting, cultural and commercial level.

The Palm involves the creation of the world's largest two man-made islands known as The Palm, Jumeirah and The Palm, Jebel Ali. Located just off the coast of Dubai, the two palm tree shaped islands are expected to contribute to the city's position as a premier global tourist destination. The project will create a large number of residential, leisure and entertainment opportunities, all within a unique and inspiring setting. The creation of The Palm is an extraordinary project of grand proportions. Each island will consist of more than 100 million cubic metres of rock and sand. Between the two islands there will be over 60 luxury hotels, 5,000 exclusive residential beachside villas, 5000 shoreline apartments, marinas, water theme parks, restaurants, shopping malls, sports facilities, health spas, cinemas and extensive dive sites.

Construction commenced in June 2001 after many years of research and planning. Each island will take approximately two years to be completely raised from the sea. A further two to three years will be required to complete the infrastructure and the buildings. The end-result will be the creation of two virtually self-contained communities within the islands