Privilege Dubai, a real estate consultancy, has sold five underwater villas each worth a whopping Dh5 million ($1.36 million) at The World Islands project in Dubai, UAE, said a report.

The project features a floor below water-level and two floors on the surface in a cluster of islands known as the Heart of Europe being developed by Kleindienst Group.

These villas will be constructed across a 1,700-sq-ft area on The World Islands and will be one of the myriad of attractions of the Heart of Europe project, reported the Emirates 24|7.

A total of 42 underwater villas are being planned as part of the Heart of Europe project. Twenty have been sold to Privilege Dubai, while the developer holds the remaining 22 villas, which it plans to launch at a later stage, stated the report.

The World project, which is 9-km wide and 7-km long, covers an area of 931 hectares and will add 232 km to Dubai's natural 67 km of beachfront.

It comprises six islands - Germany, Austria, Switzerland, Netherlands, Sweden and St Petersburg - with six additional destinations being Sochi, Belgium, Luxembourg, Geneva, Monte Carlo and Poland.

The Heart of Europe will also boast rain and snow-filled streets and floating bridges, stated the report.

"Privilege Dubai has bought 20 villas from us. They launched five villas on Saturday and all of them have been sold for Dh5 million ($1.36 million),” the group chief executive Josef Kleindienst was quoted as saying in the report.

"Two of the investors are from Europe, while the remaining three are from the GCC states including an Indian, with a UAE residency permit," he added.