Coco Chanel once said, “Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening.” So Chanel’s creative head Karl Lagerfeld is taking it rather seriously. The latest is Lagerfeld has just inked a deal with Dubai Infinity Holdings to create “limited edition” homes (we are assuming the interiors only) on Isla Moda island, part of Nakheel’s The World Islands project in Dubai.

Lagerfeld will design 80 homes, of which 10 per cent will be “bespoke”, on the island that is being billed as the epicenter of high-end luxury fashion labels and is expected for completion in 2011.