Homes on The Heart of Europe's Germany Island in Dubai sold out
Germany Island's construction started in early 2018 and is due to complete by Q2 2019, Kleindienst said
The developer of The Heart of Europe in Dubai said all 32 villas on the megaproject’s Germany Island have now sold out as second homes.
According to statement by Kleindienst Group, this figure was made up of 15 beachfront villas, each priced at an average of $7.1m (AED26.2m), and 17 lagoon villas, for which off-plan prices started at $3.1m (AED11.5m).
Construction on Germany Island started in early-2018, the developer said, and is expected to complete by the second quarter of next year.
It added: “Since the villas are under way with bricks and mortar available, it has started to draw in European investors who prefer to see part-built or built units, as well as attractive forecasts for return on investment before purchasing.”
Each villa on the island will be powered by green energy and solar power, with landscaping in the style of the Maldives with palm trees and luscious vegetation.
Kleindienst said this will reduce the climate temperature by up to 4-5°C in the same way as on The Heart of Europe’s Sweden Island.
Speaking on the news, Josef Kleindienst, founder and chairman of the Kleindienst Group, said: “We have witnessed strong interest from UAE, GCC, and now European investors in second homes on The Heart of Europe, which reinforces that Dubai is ready both for this concept and a new investment opportunity with guaranteed returns.
“Out of our 4,000 units that will be available, we have now sold over 1,000 units to a mix of buyer nationalities and we will bring more new investors from Europe in Q4 this year and beyond.”
August 2018 saw the developer announce it had sold out all 10 Sweden Beach Palaces on the land reclamation project’s Sweden Island, part of the megaproject’s Phase Two launch in December 2014.