Wednesday, June 19, 2019 10:49 AM

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Kleindienst Group sells Dh1.5 billion worth of properties

Kleindienst Group, developer of The Heart of Europe, said, it has successfully sold 85 per cent of the second homes scheduled for Phase One with a project value of Dh1.5 billion.


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. Handover of Phase One started in 2018 and is fully on track to complete in 2019. 


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 and the strong opportunity for favourable returns on investment.


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

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 the beginning of the year.


As more projects start construction in 2019, this number will grow again 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 in 2019 and tourists later in the year too.


Josef Kleindienst, Founder and Chairman of Kleindienst Group said, “After a highly successful 2018, The Heart of Europe is on track in Phase One with 85 per cent of the second homes sold. We are passionate about building the impossible and the innovative world firsts excite our investors as well as 100 per cent guaranteed return on investment after 12 years, attractive rental yields and strong capital appreciation.


“As the only developer to increase our prices more than 50 per cent due to strong demand for the second home market, a new concept in this region, we are confident that we will witness continued success year on year sales increase during 2019.”


Established over 30 years ago in Austria and Hungary and present in Dubai since 2003, Kleindienst Group is the largest European real estate company in Dubai with more than 1,500 employees over its diverse portfolio of businesses which include property development, construction, hospitality, property brokerage, and corporate business centres. Kleindienst pushes the boundaries of innovation, creating new concepts such as Dubai’s second-home real estate market in a touristic destination, as well as exceptional hospitality attractions and world firsts.


Kleindienst Group offers unique investment opportunities, attracting local and global wealth to support the UAE National Agenda 2021 and bolster the country’s economic, commercial and touristic aims. Kleindienst Group is committed to supporting Dubai’s inspirational goals and assisting in helping the DTCM meet its target of adding 40,000 new hotel rooms by 2020. Kleindienst Group is also in line with The World’s vision to bring the best of European experiences to Dubai.


The Heart of Europe, part of the Kleindienst Group, is a celebration of the best European experiences in an unrivalled holiday home destination comprising six islands – Germany, Sweden, St Petersburg, Switzerland, The Floating Venice and Main Europe - with 13 hotels and resorts including Portofino Hotel, Ikaria Hotel, Ibiza Hotel, St Petersburg Resort, Côte d’Azure, The Floating Venice, London Hotel, Scandinavian Hotel, Amsterdam Hotel, Munich Hotel, Empress Elizabeth Hotel, Marbella Hotel and Tsar Hotel. The Heart of Europe is committed to delivering the best of European culture, heritage and lifestyle through traditional architecture, authentic experiences and innovative technology.  The development is located in a cluster of six islands nestled in The World archipelago, 4km from the Dubai coastline. The Heart of Europe brings never-seen-before experiences, including the world’s first floating and underwater living experience, the first dedicated wedding hotel, and the world’s first artificially engineered, climate controlled raining streets.