The Heart of Europe, the $5 billion (Dh18.3 billion) luxury tourism destination off the Dubai coastline, will start handing over private villas and beach palaces to investors in December, it was announced on Monday.
Developer Kleindienst said the handovers will be part of its phased delivery of about 2,000 residential and hospitality units in phase one of the project.
The announcement comes as construction of St Tropez, the fifth hotel of phase one, is nearing completion and will recreate the famous French Riviera town with a private long beach, restaurants, promenade and luxury yachts and boats.
Overall, 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 4km off the Jumeirah coast of Dubai.
Phase one components will commercially open once the situation normalises after the Covid-19 pandemic, Kleindienst said.
It added that construction of the project’s 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”.
“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,” said Josef Kleindienst, chairman of Kleindienst Group, said. “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 the Covid-19 pandemic, 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.
“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 two of the project – and plan to complete the development of the island by 2022.”
Since about 90 percent of the developments of the island are hospitality units, hotels and resorts will be opened when large-scale tourism traffic starts to pick up, he added.
Kleindienst said construction of St Tropez is on a “fast track” and has already topped out, and will be connected to the UAE’s largest unbroken private pristine beaches stretching up to 700 metres. It is one of the 15 hotels that are being built on the Heart of Europe.
St Tropez will offer seven cultural festivals annually.
Source:https://www.arabianbusiness.com/property/455306-heart-of-europe-developer-says-property-handovers-to-start-in-december