Commercial sale of hospitality units at The Heart of Europe, the$5 billion (Dh18.3 billion) prime hospitality and second-home mega-project off the coast of Dubai, gains momentum as developer Kleindienst Group intensifies broker engagement to sell the remaining units of the project as it prepares to open the first hotel – Côte d’Azur Monaco – that is set to be the next top luxury tourism destination in the Middle East and North Africa.
“This is a very exciting time for all of us as we prepare to partially open the world’s newest and one of the best island leisure destinations in the world,” Josef Kleindienst, Chairman of Kleindienst Group, master developer of The Heart of Europe, says. “Starting from September this year, international tourists will be able to see something that is absolutely out of the world – a luxury destination combining the best of European culture and hospitality with Emirati luxury.”
Set on six coral-rich islands, The Heart of Europe is at the centre of the artificially developed “The World Islands” in Dubai – a cluster of 300 man-made islands in the Arabian Gulf four kilometres off Dubai’s Jumeirah coast. Set against the backdrop of Dubai’s skyline, it is a self-sufficient upscale resort, leisure and second-home destination. The first hotel to open is the Côte d’Azur Monaco, a luxury, adults-only party paradise.
The Côte d'Azur Resort received a 5-star rating from the Department of Tourism and Commerce Marketing (DTCM), the tourism regulatory authority of the Government of Dubai.
Construction of the Côte d’Azur Resort, which comprises four upscale hotels each named after the most famous coastal cities along the French Riviera – Monaco, Nice, Cannes and St. Tropez, is also nearing completion and will deliver 916 units in total this year. The developer will then gradually deliver parts of the project in 2022 and 2023, in line with the increase in international tourist arrivals to the region.
An incentive campaign which offers special commission and sales perks to the brokers will take place during an exclusive 3-day-long event, with 450 brokers touring the Côte d’Azur Resort and The Heart of Europe from June 23 to 25, 2022, followed by presentations and speeches by the top management of the company with a projected price appreciation in the next six months. Brokers may invite their top investors along to experience a preview of the soon-to-open hotel.
“We have worked day and night and year after year to realise this project, which is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, since the World Dubai was unveiled more than 15 years ago. We are now transforming it into reality. That day is nearing,” says Josef Kleindienst, Chairman of master developer Kleindienst Group.
“Prices of the Floating Seahorse Villas and other hospitality units have jumped four-fold in the last few years. Soon after the delivery of the project, we expect a further jump in the property prices. Hospitality units that are currently offered to the buyers, will jump manifold in the next few years while fetching 8.33 percent annual rental income or 100 percent return in 12 years that we are guaranteeing.”
Kleindienst Group is currently in the process of hiring the first group of hospitality professionals to serve the hotel guests. The new sales campaign takes place as prices of properties are going up in the UAE. The Heart of Europe has already drawn investors from across the globe.
“So, this is the right time for the brokers to bring investors to the island, conclude sales and benefit from extra commission and other incentives! For investors, buying a unit at today’s price gives them – in addition to the annual rental income – a high appreciation value that will fetch them 300 to 400 percent profit when sold later,” Josef Kleindienst says.
