Kleindienst Group, the UAE’s largest European property developer and creator of The Heart of Europe, is set to unveil real estate investment opportunities worth $5 billion during its debut appearance at Mipim real estate expo in Cannes, France this year.

Unveiling its Mipim plans, the company said it will be exhibiting jointly with the Dubai Land Department.

It will showcase The Heart of Europe, its innovative and imaginative freehold second home development and global tourist destination valued at $5 billion located on six islands in The World archipelago in Dubai.

Kleindienst is the only Dubai-based developer to increase its prices in 2018 due to the strong demand for second home investment opportunities resulting in selling 100 per cent of Phase One, said a top offficial.

"This development is an iconic masterpiece that will attract investment and new tourists from around the world. Dubai is an attractive market with Expo 2020 next year as well as many initiatives from the UAE government to make it easy to invest and operate here. The currency is pegged to the US dollar providing security and we have a high liquid property market offering some of the highest yields in the work and strong capital appreciation with zero income tax and readily available financing option," remarked Josef Kleindienst, founder and group chairman.

"The Heart of Europe is an exciting and innovative development opening a new underserved market segment in Dubai – the second home market," he stated.

According to an initial research, there is an estimated demand for 50,000 to 60,000 second homes worth around $15 billion reinforcing Dubai’s readiness to develop the freehold second home concept in line with other major cities around the world.

The Heart of Europe is therefore pioneering the second home market in Dubai with villas, chalets, palaces, cabins and hotel suites using its experience of the mature European holiday home market to spearhead this first development in the GCC region.

Kleindienst said the Heart of Europe provides favourable returns for investors that are written into its contracts, offering guaranteed return on investment in 12 years; strong capital appreciation, and a rental yield of eight to 10 per cent, higher than the city’s norm of 7.4 per cent as well as the international average short-let yield.

"As Europe moves towards a trend for income-generating assets, The Heart of Europe delivers an innovative, luxury resort destination that is purpose-built to attract and service tourists and ensuring rental income," he noted.

"The Heart of Europe has attracted a lot of positive attention from Middle East investors, particularly the GCC, who have bought off plan during Phase One resulting in it selling out and handover taking place in 2019," observed Kleindienst.

"There has been significant progress with construction with examples of the beautiful Sweden Beach Palace, unique Floating Seahorse Villas ready to view as well as Germany Island Beach and Lagoon Villas and Portofino Hotel all under way," he added.

Kleindienst pointed out that the group's vision was to bring the best of European culture and experiences to a Maldivian-inspired island setting in Dubai.

"We are creating a tourist destination that has never been seen before with a number of world firsts. We will have climate-controlled and rainy streets at all times of the year, 13 hotels each with their own unique personality, and the best in underwater luxury living on the Floating Seahorse Villa surrounded by mesmerising coral seascapes and marine life," he added.-TradeArabia News Service