Kleindienst Group, a leading European real estate company based in the UAE, has announced that it will start handing over private villas and beach palaces to investors from next month, as part of its phased delivery of residential and hospitality units within the most exclusive island destination in the region that, once completed by 2022, will become the most sought after destination in the Middle East.
The ultra-luxury island will host around 4,000 units spread across 15 hotels and resorts in a cluster of inter-connected six islands and a floating Lido Island about 4 kilometres off the Jumeirah coast of Dubai.
Phase I will see the delivery of nearly 2,000 units including, mostly hospitality units spread in five hotels, in phases and will commercially open once the situation normalises after the Covid-19 pandemic, said the statement from Kleindienst.
Construction of the project’s innovative landmarks, including the Floating Seahorse Villas, Sweden Beach Palaces, Germany Island Villas, Honeymoon Island, Portofino Hotel and Côte d’Azur Resort are progressing in full speed with all the Phase I projects having topped out while engineers are currently putting finishing touches on the exterior facades and interior décor – making them ready to receive tourists from all over the world – when large-scale tourism traffic starts to pick up.
The announcement comes at a time when the construction of St Tropez has reached roof top level, stated the developer.
This is the fifth hotel of Phase 1 that is nearing completion and will recreate the environment and charms of the famous French Riviera town of St Tropez, with a private long beach, restaurants, promenade and luxury yachts and boats moored to serve visitors for a boat ride into the Arabian Gulf and enjoy sipping drink while watching sunset, it added.
Announcing the handover, Chairman Josef Kleindienst said: "At the beginning of the year, we made a commitment to deliver part of the Phase 1 of the Heart of Europe to the owners by the end of 2020. At that time, we were not fully aware of the devastating effects of the Coronavirus pandemic and its magnitude."
"However, despite the challenges posed by Covid-19, we were determined to go ahead with our planned development and as the lockdown was announced in March, we shifted our entire team to the Heart of Europe islands and continued to construct. During the lockdown, we were isolated from the mainland and confined to the island and focused on construction," he stated.
"Now, I am pleased to announce that, we are ready to hand-over residential units to home-owners so that they can fit out the interiors. This reflects our strong commitment to the investors and as they start taking over, I am also excited to announce that we have started construction of the Phase II of the project - and plan to complete the development of the island by 2022" he added.-TradeArabia News Service
