Monday 29 July 2019
The Heart of Europe
Dubai - MENA Herald:

Kleindienst Group, the UAE’s largest European property developer and creator of The Heart of Europe, has announced strong financial results with revenues exceeding AED 575 million (US$155 million) during the first half of 2019. The H1 sales interest demonstrates the popularity of The Heart of Europe and supports its estimates that there is a latent market demand for between 50,000 and 60,000 second homes in the UAE alone. The US$5 billion project, The Heart of Europe, is the first of its kind to introduce the second home concept to Dubai.

Kleindienst Group’s strong financial performance for the first half of the year has been supported by construction, which continues at pace. Second home builds, including the iconic Floating Seahorses, are on track to handover, while The Heart of Europe is also on target to welcome the first hotel guests to the islands by the end of the year, with the family-friendly Portofino Hotel development. 

Josef Kleindienst, Founder and Chairman of Kleindienst Group said: “Sales in H1 indicate there is a strong demand for a unique second home destination. We have over 2000 people working on the delivery of The Heart of Europe, and it is really taking shape. Germany Island and Honeymoon Island are the most advanced, while Sweden Island, which will hold 10 luxurious and intricately designed palaces, is 70% to completion. The Heart of Europe’s first hotel, the family-only Portofino Hotel is also around 50% finished. Creating something that has never been done before is not always straightforward, but our team has never wavered in its pursuit of perfection. Their hard work and dedication is beginning to pay dividends.”

The strong sales may, in part, be driven by the attractive guarantee of 100% ROI. For those existing investors who put money into the Floating Seahorse when originally priced at AED 5m, they now have a property worth AED 20m, demonstrating robust capital appreciation. 

In addition to highly positive sales, two of the islands on the inspiring The Heart of Europe project are more than two-thirds (66%) complete, with Germany Island and Honeymoon Island entering the final stages of build. 

Germany Island is shaped like a horse shoe, featuring 32 villas, either positioned with beachfront access or surrounding a purpose-built lagoon, with landscaped gardens and tropical vegetation. There will also be 12 Floating Seahorse villas (world-first underwater living residences) situated at Germany Island. 

The idyllic and romantic Honeymoon Island has been constructed in the shape of a heart, and will host over 100 Floating Seahorse villas, 4 restaurants and bars, adult infinity pool, children’s pool and play area, dive centre, and health spa. 

Phase One of this iconic destination is sold out with Phase Two and Three underway and seeing strong demand from European investors. The Heart of Europe project will also shortly announce an exciting new addition for potential investment, with the investor launch of one of the projects’ unique hotels.

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