A palatial villa on the landscaped island of Sweden
Almost a decade after the global financial crisis, Austrian developer Kleindienst Group has unveiled its plans for developing its islands on Dubai’s infamous The World Islands project.
Kleindienst group chairman, Joseph Kleindienst, took a group of reporters on a tour of the company’s The Heart of Europe project, which so far consists of a palatial villa on the landscaped island of Sweden and a “Floating Seahorse” which resembles a house boat with an underwater observatory, on 13th August.
A “Floating Seahorse” on the shores of The Heart of Europe.
The island of Sweden will eventually be home to 10 villas. Each property will have its own private section of beach, including a private coral reef. The total plot build up area of standard villas will be 2456.86 m2 and of HRH villa will be 8913 m2.
The Kleindienst group plans to install a total of 131 Floating Seahorses around various islands that make up The Heart of Europe. They started selling the Floating Seahorses at about AED 5 million (US$1.36m) and they currently sell at around AED 15 million (US$4.1m).
The Kleindienst Group started selling the properties on the island and the Floating Seahorses at AED 2000 (US$544.48) per square feet, and their target price upon completion is about AED 7000 (US$1905.70) per square feet . “Currently, we sell at about AED 3000 (US$816.73) per square feet, that means we are somewhere in the middle of the price range,” Kleindienst told reporters.
The properties have been designed as freehold second homes. The second home market is a new concept for Dubai, where people leave their primary property and head to a second home for the weekend. “There is a high demand for ‘the second home’ and we are the only one building free hold second home right now,” the chairman added.
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