French Polynesia government sign MOU with an American firm to construct world’s first floating city in the middle of the Pacific Ocean

Innovation at its peak as world first floating city to emerge a Pacific Ocean, as construction is billed to kick-start sometime in 2019.

The contract for the construction has already been signed by the parties involved.

According to source, a research firm named the Seasteading Institute, an American firm signed the contract for the dazzling project which is to be built in the centre of the Pacific Ocean with the government of French Polynesia,

Report has it that for over 5 years, the US based construction firm has been working round the clock on how to build "permanent, innovative communities floating at sea".

This innovative idea may due to the fact that French Polynesia, which happens to be a collection of 118 islands in the southern Pacific, is at risk from rising sea levels.

ABC’s report the government of the islands has signed a memorandum of understanding (MOU) with the San Francisco-based institute.

Though, more studies will undertaking as a result of the proposed city with regard to the economic and environmental effect of the project and its legal implications.

According to Randolph Hencken, executive director of the institute: "What we're interested in is societal choice and having a location where we can try things that haven't been tried before.

"I don't think it will be that dramatically radical in the first renditions.

"We were looking for sheltered waters, we don't want to be out in the open ocean - it's technologically possible but economically outrageous to afford.

"If we can be behind a reef break, then we can design floating platforms that are sufficient for those waters at an affordable cost.

"We don't have to start from scratch as this is a pilot project.

"They also have very stable institutions so we're able to work with a government that wants us there that we have respect for and they have respect for us."

Mr Hencken is confident the government of French Polynesia will support his firm's efforts: "We are confident there will be both a direct and an indirect benefit for them economically.

"They are a tourist-based economy and they're excited to bring us in because we are a technology-based idea."

After initial studies, it is hoped draft legislation will be drawn up next year and construction can begin in 2019.