What Makes “The Heart of Europe” A Dream Community In Dubai?
The Heart of Europe is the most exclusive and a one-of-a-kind mega-development situated off the coast of Dubai. It is a $5 billion project dedicated to prime hospitality and second home that offers fast-emerging properties. It is interesting to note that these properties will match other world-class real estate standards. But what makes it a dream community in Dubai?
An Introduction To The Heart Of Europe
The development includes 6 islands comprising part of the World Island that has already attracted investors of unique properties from across the globe. 2,000 residential projects at the Heart of Europe will be handed over to the owners this month. It will be ahead of customization.
According to Kleindienst Group, prices for the collection of ultra-prime villas, floating villas, mansions, and apartment units will be higher. This makes the exclusive project more similar to the most sought-after property hubs in the world including Monaco, Moscow, London, Geneva, Vienna and Paris.
This marks the arrival of this project on the world-class real estate stage. Besides, it will reposition its prices alongside the rest of the penultimate luxury segment. According to Josef Kleindienst, Chairman of master developer Kleindienst Group, the innovation, sustainability, uniqueness and luxury of the project will add even more value to the properties within this project!
Now, The Heart of Europe is a destination of choice for second home investors from around the globe. The phase 1 of this project is getting ready for handover. Also, all of the islands in this development are now under construction.
What differentiates The Heart Of Europe is the ability of this community to deliver sustainable and unique setting that cannot be found in any other places in the world. The Heart of Europe is a world first in a class of its own. This one-of-a-kind luxury destination offers a variety of asset classes, ranging from epic mansions to flexible hotel suites.
After completion, The Heart of Europe will offer at least 4,000 hospitality and second home units. This community will include a world-famous Floating Seahorse Villas and 15 hotels. Highlights include Bauhaus-inspired villages of Germany Island, the stunning jungleflanked Beach Palaces of Sweden Island, Honeymoon Island with its sunset and sunrise beaches, Portofino Hotel and the Côte d’Azur resort.
The Heart of Europe will also host some of world firsts. One of them is the Rainy Street that offers on command rain showers for the guests to experience unique moments. In addition, the Coral Institute is located at the heart of the ‘seahabilitation’ program of the development. It is already busy breeding marine life that includes coral species. And the destination will also offer the region’s largest and most sustainable swimming pool alongside the longest private beach in Dubai.
How Are Prices In The Heart Of Europe?
Despite challenges brought by the Covid-19 pandemic, determined construction progress has been made this year. This was the reason why Kleindienst Group is closer to delivering the main opening phases of the iconic project. It also reflects the progress of one of the most tax-friendly, connected and safe cities in the world. Owing to the fact that investors take possession of the tangible results of this headline grabbing and exclusive project, Kleindienst believes they will be willing to pay price levels already experienced in other main global cities.
According to the recent date, prime properties in Dubai remain undervalued in comparison to other key international cities including New York, Singapore, Hong Kong as well as European cities such as London, Paris and Monaco. To be more precise, luxury properties in Dubai are almost 10 times cheaper than in some of the most expensive cities in the world, according to a research that was recently done by Knight Frank, the global real estate advisory.
Monaco sits high in a list of the world’s most expensive cities and the same spend will buy just 16.4 square metres. It is followed by 21.3 square metres in Hong Kong and 30.4 square metres in London. In global terms, Hong Kong was ranked as the most expensive big city market in the world with an average price of $45,760 per square metres. The average price in Dubai is at $6,729.