Kleindienst Group, a European property developer and creator of The Heart of Europe, has announced that it has sold 85 per cent of second homes part of phase one with a project value of Dh1.5 billion.
Kleindienst Group has worked on properties on Sweden Island, Germany Island and 78 Floating Seahorses situated in a Maldivian setting at honeymoon Island, St Petersburg.
Handover of phase one started in 2018 and is on track to complete in 2019.
The demand from investors, predominantly UAE (40 per cent) and GCC nationals (30 per cent) has been positive.
The Heart of Europe is pioneering the second home market and a tourist destination on six islands in The World.
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Currently on The Heart of Europe, Kleindienst has built a fully functioning transportation hub to and from the mainland. Over 1,700 workers now work on the six islands, an increase of 60 per cent since the beginning of the year. As more projects start construction in 2019, this number will grow.
The Heart of Europe is equipped to welcome owners in 2019 and tourists later in the year too.
Josef Kleindienst, founder and chairman of Kleindienst Group, said: "The Heart of Europe is on track with phase one with 85 per cent of second homes sold. As the only developer to increase prices more than 50 per cent due to strong demand for the second home market, we are confident that we will witness an increase in year-on-year sales during 2019."
