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Ultra Luxury Homes in The Heart of Europe Project Dubai, To Become Costlier
- 2nd Apr 2021
For lovers of luxury real estate in Dubai - The Heart of Europe Project Developer has definitely been an attraction for a long time. As per the property developer Kleindienst the major price increase in this project will make the Heart of Europe project in Dubai as expensive as some of the most luxurious projects across the globe.
Kleindienst Group has announced prices for its mix of ultra-prime villas, mansions, floating villas and apartment units will now increase fourfold
The price of these Dubai luxury properties on the USD 5 billion ultra luxury project called The Heart of Europe currently under construction just off Dubai's coast are poised to zoom upwards as per real estate developer Kleindienst recent announcement.
The real estate developer in Dubai confirmed a price increase around 4 times and that this luxury project in Dubai is now in alignment of other global luxury real estate assets.
This unusual luxury project in Dubai being carried out on six islands including parts of the World Islands, Dubai, has been a real attraction for luxury real estate buyers and luxury property investors from the world over. Dubai rea estate which is already a global favourite has gained further momentum due to The Heart of Europe project.
The possession of the initial Two thousand residential and hospitality units in The Heart of Europe, Dubai is expected to happen from April 2021.
Coinciding with the same, the Kleindienst Group has confirmed that the ticket sizes of all available luxury real estate in The Heart of Europe including ultra-prime villas, mansions, floating villas and apartment units will go up by four times.
As per the luxury real estate development company this The Heart of Europe alongside the best and the most in demand luxury real estate in Monaco, London, Moscow, Geneva, Vienna and Paris and other top luxury real estate locations in the world. By the way prime luxury real estate in such locations can cost anywhere from AED 59,000 up to AED 235,000 per square metre and even beyond in certain cases.
The Heart of Europe real estate costs will now be quoted in Euros instead of being priced and quoted in UAE Dirhams.As per Kleindienst this particular move at this stage signifies the transition of this luxury real estate project in Dubai on the world-class real estate platform and cements its position alongside the exclusive gathering of the most premium luxury real estate assets in the world.
The updates and changes in pricing:
Previous cost of a Floating Seahorse Villa - AED20 million.
After increase cost of a Floating Seahorse Villa - €20 million
Previous cost of an ultra-luxury Beach Palace on the Sweden island - AED80 million
After increase cost of an ultra-luxury Beach Palace on the Sweden island - €80 million.
Previous cost of luxury units in the Côte d'Azur section - AED1.7 million
After increase cost of luxury units in the Côte d'Azur section - €1.7 million.
As per Josef Kleindienst, chairman of master developer Kleindienst Group
The price increase of around 4.5 times, signifies a major shift for their existing luxury real estate investors as the luxury project enters a new phase in its development.
He also confirmed that The Heart of Europe has performed extremely well in the second home and hospitality categories in the past half a decade and that their phase 1 is close to handover and all islands in The Heart of Europe, Dubai are currently under construction.
He also reiterated that the project's and company's prominence within the UAE's rich hospitality and second home sector, alongside their well renowned luxury assets and experienced management team, is a strong combination which will result in the robust future growth of the company and will benefit stakeholders and investors in a big way.
This particular step is a significant one as it will boost the prices of the amazing yet under valued luxury real estate in UAE and bring it at par with luxury real estate markets in Europe, Asia and America including locations like Monaco, London, Paris, New York, Singapore and Hong Kong.
The cost of Luxury properties in Dubai is almost less by around 10 times when compared to luxury real estate in the world’s most expensive cities. This is as per a report by Knight Frank.As per Kleindienst, this is the biggest increase in luxury real estate asset prices in a city and most likely the only one in the world where property prices are increasing despite the impact of the Covid pandemic.
For property owners at the Heart of Europe, this means they could make nearly 400 percent profit when they sell their assets to new investors.
The quotes of Josef Kleindienst, chairman of master developer Kleindienst Group truly bring to light some of the best aspects of this ultra luxury project
“This is the largest jump in asset prices in a city and perhaps the only one in the world where property prices are appreciating despite the pandemic,”
“For property owners at the Heart of Europe, this means they could make nearly 400 percent profit when they sell their assets to new investors.
“The decision to change the currency denominations to Euro is in line with our vision to offer the most authentic European experience to property buyers and visitors.”
Once ready, The Heart of Europe will have least 4,000 prime luxury hospitality and second home units, including 15 luxury hotels and a community of Floating Seahorse Villas.
This global luxury project in Dubai called The Heart of Europe boasts of jungle-flanked Beach Palaces of Sweden island, Bauhaus-inspired villages of Germany island, Honeymoon Island with its sunset and sunrise beaches, Portofino Hotel and the Côte d’Azur resort.
The Heart of Europe also features some of the most exclusive firsts in luxury real estate like the Rainy Street, where residents can experience on command rain showers as part of an innovative climate control system.
This luxury real estate property in Dubai is truly on its way to become one of the most innovative and sough after global luxury real estate trophy for the luxury real estate connoisseurs of the world.