Friday 29 March 2024
 
»
 
»
Story

Kleindienst starts delivery of The Heart of Europe Phase One units

DUBAI, December 21, 2020

Leading property developer Kleindienst Group has announced that it will start handing over the first of the 2,000 residential and hospitality units including the floating villas, mansions and apartments within its $5-billion premium development, The Heart of Europe, in Dubai.
 
According to the developer, the exclusive development on six islands, comprising part of the World Island’s, Dubai, has already drawn investors from across the globe. 
 
And with handover of the units commencing this month ahead of individual customisation, the Kleindienst Group said the prices for its mix of ultra-prime villas, mansions, floating villas and apartment units will now increase fourfold.
 
This brings the exclusive project into closer parity with the most sought-after property hubs in the world such as Monaco, London, Moscow, Geneva, Vienna and Paris where prime property prices can range between Dh59,000 up to Dh235,000 per sq m, said the Chairman Josef Kleindienst.
 
The move rightly applies increased values to properties within a project hallmarked by its innovation, uniqueness and sustainability as well as luxury.
 
"Our price increase, specifically 4.5 times, marks a turning point for our existing investors as we enter a new phase in the development," he added.
 
Where previously Heart of Europe prices have been quoted in UAE Dirhams and at a discount to their international equivalents, those numbers will remain the same, but will now be denominated in Euros, said Kleindienst.
 
"This marks the project’s arrival on the world-class real estate stage and repositions its prices alongside the rest of the penultimate luxury segment," he noted.
 
"The Heart of Europe has performed very well across the second home and hospitality segments in the last five years; our Phase 1 is getting ready for handover and all islands are now under construction," he said.
 
"The Heart of Europe has performed very well across the second home and hospitality segments in the last five years; our Phase One is getting ready for handover and all islands are now under construction," stated the top official.
 
"Where the cost of a spectacular Floating Seahorse Villa was Dh20 million, it will now increase to €20 million, while an ultra-luxury Beach Palace on the Sweden island rises from Dh80 million to €80 million. Units in the Côte d'Azur section of the project will now cost €1.7 million instead of Dh1.7 million previously," he explained.
 
"We firmly believe that our prominence within the UAE's fertile hospitality and second home sector, alongside our world-famous assets and experienced management team, is a potent combination which will support the company's future growth and will further reward our investors," he added.
 
Kleindienst pointed out that determined construction progress has been made this year in spite of the challenges brought by the Covid-19 pandemic.
 
"This has seen our group leaping closer to delivering the key opening phases of the iconic development, which lies a short hop from one of the most connected, safe and tax-friendly cities in the world," he added.-TradeArabia News Service

 




Tags:

More Construction & Real Estate Stories

calendarCalendar of Events

Ads