First official trade license granted for The World

The license was handed over during a ceremony on Germany island

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Kleindienst Group has been granted with the first trade license for business operations on The World.

Kleindienst is the owner and developer of The Heart of Europe, a luxury hospitality project that will extend across six islands on The World. When complete, the project will incorporate private holiday homes, apartment buildings, hotels, floating palaces and a diverse range of retail, entertainment and food and beverage outlets.

“The Heart of Europe project has been a groundbreaking one – not only literally, when we became the first developer in the world to begin construction on The World, but also metaphorically now, as the owners of the very first trade licence to be issued for the development. We are delighted to part of Dubai’s history,” said Josef Kleindienst, CEO of Kleindienst Group.

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Awarded by Trakhees, the Government Department for Planning and Development, the trade licence was handed over by Dawood Mohammed Ahmed, the organisation’s commercial registration manager, during a special ceremony on the Germany island.

Construction on the first two islands began in February this year, with completion of 20 luxury villas on Germany island scheduled for the end of the first quarter of 2011. Thirteen villas have already been sold. Development of the full project is scheduled for completion in 2015.