Real Estate

Kleindienst sells 85pc of Heart of Europe Phase One

January 2019

Kleindienst Group, the UAE’s largest European property developer, has announced that it has sold 85 per cent of the second homes scheduled for Phase One of its Dh1.5-billion ($408 million) development, The Heart of Europe, located 4 km off the coast of Dubai.

The Heart of Europe is pioneering the second home market and an innovative, world-class tourist destination on six coral-rich islands in The World, sustainably bringing the best of European culture to Dubai, states the developer.

Handover of Phase One started in 2018 and is fully on track for completion in 2019, says the group.

The demand from investors, predominantly UAE (40 per cent) and GCC nationals (30 per cent), has been positive, demonstrating an understanding of the new second home concept in this region, it says.

Kleindienst Group has worked on properties on Sweden Island, Germany Island and 78 floating seahorses situated in a Maldivian setting at honeymoon Island, St Petersburg.

Currently on The Heart of Europe, Kleindienst has built a fully functioning transportation hub to and from the mainland as well as a construction hub including barges, boats and a batching plant.

Over 1,700 workers now reside, eat and work on the six islands, an increase of 60 per cent since early last year. As more projects start construction in 2019, this number will grow to maintain the momentum of delivery.

With the  infrastructure in place to support such a large workforce from kitchens producing organic food to housing, power, IT and sewage treatment – adhering to the zero discharge policy – The Heart of Europe is equipped to welcome owners and tourists this year. 

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